I am trying to learn how blockchain works. I know that blockchain is nothing but list of blocks containing transactions, what I cannot understand is how do we then know how much money is contained in each account, since we are only maintaining list of transactions?
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1The amount is the sum of all transactions. – ocrdu Jan 17 '21 at 14:04
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In distributed platforms, 2 models of accounting for account balances are most commonly used:
- a state model, when each of the nodes, after the execution (or reception) of the transaction, accordingly changes the account state record in its local database (Ethereum, Hyperleger Fabric)
- model of unspent remainings (UTXO), when the account balance is formed from the sum of the balances of "unused" transactions (Bitcoin, Corda)
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