Understanding Blockchain Ledger Models

Understand Blockchains
by Operating Them.

Build transactions. See outcomes. Explore how value moves through a UTxO ledger.

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FreeNo Sign-Up
InteractiveLearn by Doing
No WalletRequired
Live LedgerSlot 12,456,789
Your Wallet
27 ₳#a1bd...0d18 ₳#bdf1...1f42 ₳#0bdc...ff13 ₳#2bd1...aa7 ₳#eef...09
Build Transaction
Send
₳
Change
4.00 ₳
Try:
Fee0.17 ₳
Tx Size580 bytes
PrivacyMedium
ParallelismHigh
Start your journey

Eight chapters from "what is a UTxO" to "I just built one".

No sign-up. Progress lives in your browser. Around 75 minutes end to end, or jump into any chapter from the sidebar.

Start with Chapter 1 →Peek at the capstone
The journey, chapter by chapter
01

What is a UTxO?

Start with the foundation: how a UTxO ledger tracks value as discrete, unspent outputs.

02

UTxO vs Account

Two paradigms compared: cash-like outputs versus balance-like accounts.

03

Inside a Wallet

How a wallet holds many UTxOs and what addresses really are.

04

Coin Selection

How wallets pick which UTxOs to spend, with privacy and fee trade-offs.

05

Mempool & Fees

What happens between submit and block: fee markets and deterministic fees.

06

Extended UTxO

Datum, redeemer and context: how scripts decide whether to unlock a UTxO.

07

eUTxO in Practice

DeFi, state machines, oracles: how real apps compose eUTxOs.

★

Build Your First eUTxO Transaction

Compose inputs, outputs, datum and redeemer. Submit to a sandbox validator.