Cardano’s eUTxO model takes Bitcoin’s proven foundation and adds three powerful ingredients: Datum, Redeemer, and Context.
Custom data attached to script-locked outputs. This is the “state” of a smart contract, think of it as a note pinned to a banknote that says what it’s for.
Data provided by the person spending the output. It’s the “action” or argument passed to the validator: claim, swap, vote, cancel, whatever the contract expects.
The full transaction visible to the validator script. Inputs, outputs, fees, signatories, time range, everything needed to decide if this spend is valid.
The critical advantage: because the script sees only the transaction (not global state), validation is fully deterministic. You know whether your transaction will succeed before you submit it. With honest pre-validation, transactions don’t fail on-chain unexpectedly, and if a script does fail in phase-2 validation, only the dedicated collateral is consumed, not the full transaction value.
Explore how an eUTxO validator evaluates a transaction. Configure the inputs and see the result.
Satoshi introduces the UTxO model: simple, robust, designed for decentralized value transfer.
Vitalik chooses accounts to enable richer smart contracts. Trade-off: shared mutable state.
Chakravarty et al. formalise an extension of UTxO that supports expressive contracts while preserving the dataflow properties of the original model.
Cardano brings eUTxO smart contracts to mainnet with Plutus scripts.
Design patterns emerge: CEM, multi-validator protocols, batch processing at scale.
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