Unhosted Wallet

In their Interpretive Letter #1172, the Office of the Comptroller of the Currency (OCC) defines an unhosted wallet as “one where an individual owner of a cryptocurrency maintains control of the cryptographic keys for accessing the underlying cryptocurrency.” Unhosted wallets are also sometimes referred to as “self-hosted wallets,” “private wallets,” and “personal wallets.”

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Unspent Transaction Output (UTXO)

An unspent transaction output (UTXO) is an abstraction of electronic money. Each UTXO represents a chain of ownership implemented as a chain of Digital Signatures where the owner signs a message (transaction) transferring ownership of their UTXO to the receiver’s Public Key. The total UTXOs present in a blockchain represent a set, every transaction thus…

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