When looking at competitors, there are constant debates around Proof of Work (PoW) vs Proof of Stake (PoS), yet rarely is any focus put on the top of UTXO-model vs Account-based model which are at the foundation of every blockchain ledger. In many ways the latter topic is more important than the former for a smart contract platform, because it dictates the long-term viability of everything from scaling, security, to formal verification. A useful analogy to understand the difference is to imagine that a UTXO behaves the same way as dollar bills work, wherein you will receive change back because you over pay with an indivisible bill. In the Account-based model on the other hand, you always transfer the exact amount the same way that you do with bank transfers. The latter may seem more efficient by default, however it has numerous unexpected consequences which make a significant difference.