Unspent Transaction Output (UTXO)
Coin, Transaction Output
The accounting system at the protocol layer for blockchains like Bitcoin and Litecoin. All unspent units of the native currency are stored a list of UTXOs owned/held by user wallets/private keys.
Analogy: A UTXO is somewhat equivalent to a dollar bill (e.g. $5, $10, $50 etc) although may be of any denomination of the native blockchain currency.
Coin moved, UTXO destruction
A UTXO destroyed by the owner by broadcasting a spending transaction to the network which is subsequently confirmed by miners/validators.
Unspent coin, UTXO creation
A UTXO created and held in the owner's wallet.
A UTXO that is determined by Glassnode heuristics to be the left-over change that is returned to a users wallet after a payment to another destination is made.
A public key which represents the source or destination of a blockchain payment.
A private key that owns all coins associated with the addresses derived from the public-private key-pair. A single wallet may own multiple addresses.
On-chain entity, Unique entity
An entity is a collection of addresses or wallets that Glassnode heuristics and labelling has determined are owned by the same unique owner. For example, a cluster of user deposit addresses maybe owned by a single exchange which would be then be defined as a unique entity.
Total sum of value held by a single address, entity or wallet.
The sum of native coin units within the specified grouping (e.g. circulating supply, supply held by wallets > 1k etc).
UTXO value, Coin volume
The value held in a UTXO, account or wallet denominated in the native currency (i.e. BTC, ETH, LTC etc).
For UTXO based chains: The accumulated time between the creation and destruction of a UTXO.
For account based chains: The time since a coin was last moved.
The unit of Lifespan (value x time)
A descriptor indicating that a coin/UTXO has not been spent and thus is currently accumulating lifespan.
The difference in fiat denominated value between the time when a coin was last moved (UTXO creation), and at the time when a coin is spent (UTXO destroyed).
The difference in fiat denominated value between the time when a coin was last moved (UTXO creation), and at current price indicative of the profit/loss that would be realized if the coin were to be spent.
A cohort of on-chain entities associated with own coins that have a lifespan less than 155-days. These coins are statistically more likely to be spent.
A cohort of on-chain entities associated with own coins that have a lifespan more than 155-days. These coins are statistically less likely to be spent.