Reading assignment - Wallet, Keys & Accounts


#1

Welcome to the discussion about the reading assignment about Wallet, Keys & Accounts.

Leave your answers to the questions below in this thread. If you have any questions or you want to discuss something connected to the assignment feel free to do it in this thread as well, but please everything to the topic.

  1. What is an account?
  2. Why are wallets important?
  3. What two permissions exists, and how do they differ?

#2
  1. An account is an unique human readable identifier on the blockchain and all transactions has its permissions evaluated under the configured authority of an account.
  2. Wallets are holding private keys and protected by high entropy password.
  3. Owner and Active. Owner account represents ownership of an account, which is used to recover another permission, which has been compromised. Active account is used for transferring funds and making other high level changes.

#3

Account in blockchain like some hash value added with 0x starting.
This is calculated like below:

first seed which is bunch of english words use to find private key (some math required here) then elliptic curve math used to find x,y cordinates which help us to find corresponding public key. Now kecakk256 hash function in ethereum is used to find hash of this public key .
first 20 characters with 0x in starting is your account.

Wallates help us to store above data.

I thind third point need me to go to course. :slight_smile:


#4
  1. An account is a unique grouping or permissions within a given EOS network. It is identified by a unique name;
  2. Wallets are important because they are the interface of use of the blockchain to the common people. They store the keys to manage assets within the blockchain;
  3. There are no two permissions, but two native permissions. The two native permissions are owner and active: owner is used to transfer the ownership of a given account and manage the other account permissions and active is used to perform transactions (not only money transactions) within the blockchain.

#5
  1. an entity with the ability to send transactions to the blockchain
  2. store keys
  3. owner and active, owner can give permissions, active executes transactions

#6

1. What is an account? An account is a human-readable identifier that’s used for transacting on the blockchain.

2. Why are wallets important? Wallets are important for storing keys that can then be linked to an account or multiple accounts, which in turn are important for determining whether the operations you like to perform on the blockchain are properly authorised or not.

3. What two permissions exists, and how do they differ? There are two native named permissions, owner and active. They differ in terms of the privileges granted to an account – the owner permission can be used for transferring ownership, whereas the active permission tends to be used for the more regular tasks like transferring funds and voting.


#7
  1. an account is just a name which is stored on the blockchain and can be owned by either one or several persons. An account is neccessary tot do transactions on the blockchain.
  2. a wallet is important for storing the key belonging to a certain account. it is also the interface to interact with the blockchain.
  3. owner : low level account changes (e.g. recover another permission), active : high level account changes such as transfering funds and voting.

#8

1. An account is a human-readable identifier that is stored on the blockchain. Accounts are required to push a transaction to the blockchain.

2. Wallets allow to store keys and encrypt them with a password. Another important feature of a wallet is that it offers a interface to interact with the blockchain.

3. owner authority symbolizes ownership of an account. It can be used to recover another permission that may have been compromised. active authority is used for transferring funds, voting for block producers and making other high-level account changes.


#9

1. What is an account?
A human-readable name that is stored on the blockchain. It can be owned by an individual or a group

2. Why are wallets important?
Wallets are clients that store keys associated with the permissions of one or more accounts.

3. What two permissions exists, and how do they differ?
owner: used for actions that make any change to the owner authority
active: transferring funds, voting


#10
  1. An account is a human-readable identifier that is stored on the blockchain
  2. Because they store keys that may or may not be associated with the permissions of one or more accounts.
  3. owner authority symbolizes ownership of an account. There are only a few transactions that require this authority, but most notably, are actions that make any kind of change to the owner authority. Generally, it is suggested that owner is kept in cold storage and not shared with anyone. owner can be used to recover another permission that may have been compromised.
    active authority is used for transferring funds, voting for producers and making other high-level account changes.

#11
  1. An account is a human readable name existing on the blockchain that can be either singly or collectively owned through permissions.
  2. Wallets allow for the keys to be stored in it and allow for their usage. The wallet is typically locked behind a high-entropy password. It has 2 states; locked, where the features of the wallet are kept secured against malbehavior, and unlocked, where the features are made accessible to the the one accessing.
  3. Active and Owner
  • Active: This permission allows for the functions which are high level account changing.
  • Owner: This allows for the more critical functions. This includes things such as making changes to the owner permission itself, or restoring other permissions which may have been compromised. It symbolizes ownership of the account.

#12
What is an account?

Accounts are “usernames” that are tied to a public key on the blockchain

Why are wallets important?

They provide encryption for your private keys

What two permissions exists, and how do they differ?

Owner: Authoritative - similar to root in linux - should be kept in cold storage
Active: A sub account of the owner - the account that should be used for signing transactions


#13

1. What is an account?
It is a human readable identifier that is stored on the bloackchain and it is required to transfer any valid transaction to the blockchain
2. Why are wallets important?
Wallets store keys that are associated with permissions of accounts
3. What two permissions exists, and how do they differ?
- Active permission used to transfer funds, vode producers and making other high-level account changes.
- Owner permission used for actions that make any kind of change to the owner authority


#14

1. What is an account?
An account can be thought of as an on-chain identifier that has access permissions associated with it.

2. Why are wallets important?
The wallet facilitates obtaining signatures in a secure manner by storing keys locally in an encrypted store that can be locked.

3. What two permissions exists, and how do they differ?
Owner and active. Owner is for ownership of an account and managing account permissions etc. Active deals with things such as transferring funds, voting, etc.


#15

1. What is an account?
Account reside on blockchain and associates to an individual or individuals. It facilitates a valid transaction to be pushed to blockchain.

2. Why are wallets important?
Wallet holds keys so that only authorised individuals can perform transaction on blockchain. Wallets provide secure storage which may vary based on the type of wallet.

3. What two permissions exists, and how do they differ?
owner - Account ownership.
active - Used mainly for Transferring funds.


#16
  1. An account is a human readable name pointing to your public and private keys
  2. A wallet is a platform for storing public and private keys, these are important to interact with the blockchain without having to input your keys every single time
  3. Owner and active, owner gives the permission while actives does the execution

#17
  1. An account is a human-readable identifier which is stored on the blockchain. It can be owned through a permissions configurations set by an individual or group of individuals. An account is required to transfer or push any valid transaction to the blockchain.
  2. Wallets are clients which store keys that may or may not be associated with the accounts. Wallets have a locked and unlocked state that is protected with a high entropy passcode.
  3. The two permissions that exist are “owner” and “active”. Owner means you have ownership of the account. There are very few transactions that require this authority. Active permission is used for transferring funds, voting for producers, and making other high-level account changes.

#18

What is an account?
It is a human-readable identifier that is stored on the blockchain

Why are wallets important?
A wallet is software that protects and makes use of your keys. These keys may or may not be granted permission to an account authority on the blockchain.

What two permissions exists, and how do they differ?
owner: authority symbolizes ownership of an account.
active authority is used for transferring funds, voting for producers and making other high-level account changes


#19
  1. What is an account?
    an account is a human readable identifier that is stored on the blockchain
  2. Why are wallets important?
    because they store keys
  3. What two permissions exists, and how do they differ?
    owner and active
    owner -symbolize the ownership, should be kept in the cold storage,
    can be used to recover other permisssions
    active - used for transferring funds, voting for producers, and other high-level changes

#20

What is an account?

  • human readable identifier stored in the blockchain.
    Two named permissions: owner and active

Why are wallets important?

  • Because is a software that protects and make use of keys to operate on our behalf.

What two permissions exists, and how do they differ?

  • Owner and Active
    Owner:
    ownership of an account.
    helpful to recover permission of a lost account
    Active:
    funds transfer
    voting for producers
    high-level account changes