FIGURE 10.

Examples of the first order merge (${\mathrm{ℂ}}_{2\to 1}$), transition (${\mathrm{ℂ}}_{2\to 2}$), and split (${\mathrm{ℂ}}_{2\to 3}$) k = 1 chainlets from the UTXO network of Figure 5. An address can appear in multiple chainlets, each time spending or receiving a different UTXO. Transaction nodes can appear in a single chainlet only