Cardano uses an innovative Extended UTxO accounting model to support multi-assets and smart contracts. It is different from the account-based model that is used by banks or Ethereum. In this article, we will briefly explain the difference between account-based and UTxO models. The aim of the article is to explain in detail how users spend UTxOs.
This article was prepared by Cardanians with support from Cexplorer.
Read the article: https://cexplorer.io/article/understanding-utxo-spending