3min chapter

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#192 – Charles Hoskinson: Cardano

Lex Fridman Podcast

CHAPTER

The Extended UTxO Model

The two most valuable and popular cryptocurrencies used to rather different ledger models known as the UTxO model and the account model respectively. The problem with this particular model is that there was no notion of how do we run complex predicates, complex contracts on this thing? So a lot of people are trying to figure out in the early days of Bitcoin, how could we improve the expressiveness of the system? This raises the question of whether it is possible to have expressive smart contracts while keeping the semantic simplicity of the UTXO model.

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