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I read the whitepaper of ethereum and I have a question:

APPLY(S,TX) -> S'

My question is since S is defined as a set of UTXO, but AFAIK the blockchain does not store each balance in a block, is this set of UTXO only preset in RAM and not on the blockchain? Is it calculated by the node by going through each block since the genesis block and only present in RAM?

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    Hi there. I realise the white paper is referring to Bitcoin in that particular line, but UTXO is a Bitcoin concept - Ethereum doesn't use the same thing, so S can't be defined in that way. See: What are the pros and cons of Ethereum balances vs. UTXOs?. If your question is actually about Bitcoin, you could try their SE board: bitcoin.stackexchange.com – Richard Horrocks Oct 26 '17 at 19:30
  • ty sry I forgot that the first part of the Etrhereum whitepaper is about Bitcoin you are right. – Ini Oct 26 '17 at 20:09

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