区块链数据解析（7-1）：Bitcoin-EN
Bitcoin Data Model
UTXO Account Model
UTXO is different from the mainstream blockchain account model which is now used by most block chain projects. Bitcoin, the first blockchain cash system to emerge, uses the UTXO model as the data structure for its underlying storage, full Name as Unspent Transaction output。
Each bitcoin transaction consists of input and output, where the input contains the data amount of the transaction and the address, and the output contains the output amount of the transaction and the output address. During a bitcoin transaction, the input of each transaction is the output of the previous transaction, and the output of each transaction can also be the input of subsequent transactions.
Because each bitcoin transaction is based on the output of a previous transaction, a new transaction can only be made before the input is spent. This avoids reusing bitcoins and ensures that transactions are secure.
Transaction content
In a transaction, each input and output of the transaction is recorded, similar to what is recorded in double-entry bookkeeping：
The above double-entry bookkeeping can be understood as a transaction in Bitcoin, the left side shows the input of this transaction, putting in bitcoins from 4 addresses, and the right side shows the output of this transaction.This transaction is output to three addresses with a total input amount of 0.55 and a total output amount of 0.5, with the difference being the miner’s revenue.
Therefore, in the same transaction, this equation must be satisfied：
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Total Input - Total Output = Miner Fee
Balance calculation
All transactions are stored on the blockchain through the UTXO account model, and the balance in an address is not recorded on a block, but is composed of all UTXOs related to that address in the blockchain network.
With the above double-entry bookkeeping operation, if you want to calculate the balance of a certain address, you need to calculate the amount not spent by the address in multiple double-entry books, you can derive the equation
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Balance = Total Input - Total Output
Related BlockChain
The UTXO model is the transaction model used in Bitcoin and many other blockchain ecosystem. Here are some blockchains that use the UTXO model, the data structure of these blockchains, and the way the calculations are kept consistent. The queries we used in the article are able to be applied to these blockchain data：
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Gogecoin (DOGE)
Data Structure
Overview
Blockchain data has the data structure of a blockchain, but is less friendly for analysis. Therefore, we need to transform the blockchain data into a relational database to analyze. Footprint has taken care of the hard stuff for users. When blockchain data is converted into a relational database, Bitcoin data consists of Blocks, Transactions. The relationship as shown below：
The tables bitcoin_transaction_inputs and bitcoin_transaction_outputs are derived from Footprint (subsequently FP) to facilitate the calculation of the UTXO model. Through the above diagram we can observe the following characteristics of their relationship：
- One block contains multiple transactions，association via block_hash
- One chain’s transaction contains multiple inputs transaction and outputs transaction，association via transaction_hash
UTXO computational extrapolation
Next, let’s try to extrapolate the process of calculating the balance of UTXO using the FP analytics. This calculation process provides a clearer picture of the entire UTXO data structure，to perform calculations of custom metrics using bitcoin Bronze level data provided by FP.
By browsing Bitcoin Rich List , We found some of the richest bitcoin wallets. Let’s take this fourth ranked (stats on 2022/12/22) address:1LQoWist8KkaUXSPKZHNvEyfrEkPHzSsCd as an example. We know some information about this address from the website：
- Inputs: 37
- Outputs: 164
- First transaction time：2022-06-15 08:25:24
- Current Balance： 124348 BTC
We used the FP analytics to try to query these data, to verify that the data in the blockchain is consistent with the results given on the Rich List.
Input/output list
Through the bitcoin_transaction_inputs table provided by FP, Execute the following SQL
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select
array_join(inputs.addresses,',') as address,
inputs.type,
-inputs.value as value,
block_timestamp
from
bitcoin_transaction_inputs as inputs
WHERE
CONTAINS(addresses,'1LQoWist8KkaUXSPKZHNvEyfrEkPHzSsCd') and block_timestamp > timestamp '2022-06-13';
Query Results：
- Total number of rows of transaction output： 37
⚠️ Attention：
- The bitcoin_transaction_inputs table contains the address related records of the inputs action, Since it is a inputs action, the money in the wallet will naturally flow to outputs, So to calculate how many outputs there are, you need to use the inputs table. And vice versa, calculate as many inputs as you need to use the outputs table.
- The purpose of using block_timestamp filtering here is to improve the efficiency of the query, When the block time of the first transaction is known to be on 2022-06-13, It is possible to filter the data in time to improve the efficiency of the query.
Total input/output amount
By executing the following SQL on the FP’s SQL interface, summary of inputs records associated with this address. get the total output amount for the address, the outputs same as that.
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select
array_join(inputs.addresses,',') as address,
inputs.type,
SUM(-inputs.value) as value
from
iceberg.footprint.bitcoin_transaction_inputs as inputs
WHERE
CONTAINS(addresses,'1LQoWist8KkaUXSPKZHNvEyfrEkPHzSsCd') and block_timestamp > timestamp '2022-06-13' group by 1,2;
Calculation results：
- Total input amount：21016587227364
- Total output amount：-8581746649469
Unspent Transaction Amount (UTXO) & balance
According to the equation raised above，The transaction unoutput amount (UTXO) is equal to the total input minus the total output, Calculate the balance 124348 BTC consistent with data from Rich List. At this point, we have verified the authenticity of the address balance through the FP on chain data.
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(21016587227364 - 8581746649469) / 10e7 = 124348.40577895
Remarks：
- Because 1 BTC = 100000000 satoshi, the data on chain is calculated in satoshi, so it needs to be converted after getting the results.
Application Scenarios
- The data tables provided by FP allow for more in-depth exploration, such as some of the following scenarios：
- Calculate the miner’s fee generated by each transaction
- Calculating the World’s Richest Bitcoin Wallet
- Calculate how many addresses is Diamond hands (Addresses where no inputs have occurred for a long time)
- In combination with the alerts function provided by FP, monitoring of some big whale wallets is possible, monitor wallet inputs and outputs behavior, through timely access to dynamic data on blockchain to make better investment decisions.