transactions – How are funds verified?

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I understand that transactions go into mempool and a miner “verifies” the transactions such as ensuring the user has the appropriate funds and correct signature. Specifically, how are available funds verified? It seems like you would have to iterate through every relevant transaction in every block to determine whether the funds have already been spent or not. This seems quite time consuming so surely there is a shortcut to verifying a user has available funds to spend.

How does a miner verify that the funds are available and not already spent without iterating through the entire Blockchain?



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