Nervos and IOHK, the development team behind the Cardano blockchain, will co-author research papers on how to improve UTXO models, open source future developments, and explore the creation of a universal standard for the accounting method. They will form an alliance with other UTXO-based blockchains to help collaboration across research, development and education in the industry. 

UTXO, which keeps track of a user’s unspent transactions across all their accounts and monitors every single transaction, is a more secure alternative to the account-based accounting method used by smart contract-based blockchains such as Ethereum, Nervos said in a statement shared with CoinDesk. 

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