Describe what Unspent Transaction Outputs (UTXO) are.
The difference between inputs and outputs
What would happen if you don’t have any single UTXO that is large enough to cover for your transaction?
The wallet will reject the transaction
How would a bitcoin wallet specify the transaction fee when creating a transaction?
The difference between inputs and outputs is the fee
How could you use the notion of transaction inputs and outputs to increase privacy in your transaction?
Since every transaction uses all of my UTXO, in each transaction the blockchain produces a new address for me. changing addresses makes it hard to understand who is the owner of the wallet.