The complete collection of all unspent transaction outputs at a given point in time.
The UTXO set represents all currently spendable outputs. Full nodes maintain and update this set as new blocks are processed, removing spent outputs and adding newly created ones.
"When a block spends 500 outputs and creates 520, the node deletes 500 entries from the UTXO set and inserts 520 new ones."
UTXO set size affects node memory/disk use and sync times. Techniques like pruning, compact block filters, and efficient serialization help manage resource usage.
"A pruned node discards old block bodies while keeping the current UTXO set and recent blocks to validate new transactions."
All terms and definitions may update as the Cryptionary improves.