Abstract
This specification proposes a UTXO ledger for one of the two tokens in the Quai two-token system.
Motivation
The Quai protocol is designed to be a two-token system. The first token ledger is designed to be highly programmable, including a smart contract VM and an account based ledger to compliment the VM. The second token ledger, will sacrifice programability in order to achieve maximum computational and communication efficiency. The second token ledger will use a UTXO accounting system, due to its improved resource efficiency. This specification describes the design of that ledger.
Full Spec
The full specification for QIP #0007 can be found here.