Reading assignment - Wallet, Keys & Accounts


#21
  1. An account a simple name that is kept on the the blockchain. It is require to transact on the blockchain.
  2. Wallets are important because they protect and make use of your keys.
  3. The two permissions are owner and active. Owner implies ownership of an account and can do changes to its authority. Active is used for transferring funds, and other high-level changes.

#22
  1. Accounts are strings of characters representing entities on the EOS blockchain

  2. Wallets are the safes where accounts keys are stored. They are important because they represent the entity behind them and can’t be restored if lost or stolen.

  3. There are 2 kinds of permissions: owner permissions and active permissions. Both serve different purposes.
    Owner permissions have a higher authority which allows them to change permissions on other related accounts.
    Active permissions on the other hand are used to transfer funds, for voting or other high level changes


#23

1.What is an account?
An account is human-readable name that is stored on the blockchain, and is required to transfer or push any valid transaction to the blockchain. The authority within an account can either belong to an individual, or split into a group, depending on the configurations.

2.Why are wallets important?
Wallets store keys. As long as a person possesses a key, they essentially own and are able to control the account. Therefore, the wallet stores the keys safely, and should be guarded carefully.

3.What two permissions exists, and how do they differ?
The two native permissions that exists are “owner” and “active”. “owner” symbolizes ownership of an account, and I would compare it to a root user account, where “owner” possesses the ultimate power over the account, and is often only used for transactions that effect big changes, like making a change to the owner authority itself.

“active” can be used for the conventional effects on the blockchain, like transferring funds, voting for producers, and other high-level account changes.


#24
  1. An account in EOS is a user-owned entity for storing and signing transactions and smart-contracts.
  2. Wallets are important for storing key pairs.
  3. owner and active are the 2 default permissions that exist on an account. Owner is as stated - the owner of the account. The active permission is used when transferring funds or voting for block producer status.

#25
  1. An account is a human-readable identifier that is stored on the blockchain.

  2. Wallets help with storing keys and making transactions. It makes the blockchain accessible to the user.

  3. Owner and active are the two permissions. Owner is the admin of the account and should be kept hidden or in cold storage. Active is used to make transactions or vote for producers.


#26
  1. What is an account?
    An account is a human-readable identifier that is stored on the blockchain. an account is required to transfer or push any valid transaction to the blockchain.

  2. Why are wallets important? Ideally, a wallet has a locked (encrypted) and unlocked (decrypted) state that is protected by a high entropy password.

  3. What two permissions exists, and how do they differ?

  • 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.

#27

1. What is an account?
An account is a human readable identifier that is stored on the blockchain that can be owned by authorisation by an individual or group of individuals and is required to push valid transactions to the blockchain.

2. Why are wallets important?
Wallets are important because they protect your keys make use of your keys.

3. What two permissions exists, and how do they differ?
Owner permission and active permission. The owner permission let you take control of your account while the active permission let you make transactions/voting/high level changes.


#28
  1. What is an account?
    An account is a human-readable identifier. It’s a unique group of permissions within a given EOS network identified by an unique name.

  2. Why are wallets important?
    In order to store keys to receive access permission.

  3. What two permissions exist, and how do they differ?
    here 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.


#29
  1. What is an account? It is a human-readable name 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 are the 2 native permissions for every account. owner are for actions that can make any kind of change to the owner authority. active is used for transferring funds, voting producers and making other high-level account changes.

#30
  1. What is an account?

    An account is a human-readable identifier that is stored on the blockchain.

  2. Why are wallets important?

    Wallets are clients that store keys and provide permissions for the account.

  3. What two permissions exists, and how do they differ?

    Owner and Active. Owner permission is related to the account ownership, whereas, active authority is used for transferring funds, voting for producers and making other high-level account changes.