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The UTXO model, as used in Bitcoin, treats transactions as a series of inputs and outputs, where each output is an unspent transaction output that can be used as an input in future transactions. This model provides a clear ledger of all Bitcoin movements, enhancing security and transparency. On the other hand, Ethereum operates on an account model, similar to traditional banking, where each user has an account balance that can be incremented or decremented with transactions. This offers flexibility for smart contracts and complex transactions but can be less transparent than the UTXO model. Both models have their strengths and weaknesses, shaping the unique characteristics of each blockchain network.
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