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Bitcoin uses the Unspent Transaction Output (UTXO) model, comparable to transactions with physical cash where Every unique Monthly bill would need to be traced. On other hand, Ethereum uses an account product, akin into a banking account with a running equilibrium, and that is additional centralized than Bitcoin.

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All transactions are recorded on line in the digital databases known as a blockchain that takes advantage of strong one-way encryption to guarantee security and evidence of ownership.

For example, if you buy a copyright, the blockchain for that electronic asset will eternally tell you about since the owner Except if you initiate a sell transaction. No one can go back and change that proof of possession.

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On February 21, 2025, when copyright workforce went to approve and indicator a schedule transfer, the UI confirmed what seemed to be a reputable transaction with the meant location. Only once the transfer of money to the concealed addresses set because of the malicious code did copyright workforce comprehend one thing was amiss.

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