Transaction output is an element of a transaction in a UTXO-based blockchain that defines an amount of funds and the conditions required to spend them later.

In Bitcoin-like systems, an output generally contains a value and a locking script or spending condition. Once the transaction is included in a block, the output becomes part of the set of unspent funds until it is referenced by a future transaction input.

Change outputs

If the value of the inputs exceeds the amount being sent, a transaction commonly creates a separate change output controlled by the sender. A single transaction can therefore create outputs for both the recipient and the sender.

In the UTXO model, the difference between total input value and total output value generally represents the transaction fee.