Accounts
This article describes the wallet accounts and how they interact on-chain.
Last updated
This article describes the wallet accounts and how they interact on-chain.
Last updated
If you need to create a wallet account and don't care about the technical details then you can follow this article.
Usually, an account means the user's identity in the blockchain. An account has an address, stores a balance, can send and receive funds, and calls smart contracts. In particular cases, an account is a smart contract with state storage.
Ethereum accounts can be externally owned (controlled by anyone with private keys) or deployed as smart contracts. In the Venom blockchain, an account and a smart contract are the same things. Here we don't have externally-owned accounts in the usual sense, and any accounts are smart contracts.
Receive, hold and send VENOM and tokens
Receive external messages from outside the blockchain
Send and receive messages inside the blockchain from other accounts
Send external messages to nowhere (think of this as events in Ethereum)
address - The identifier by which an account is stored in the blockchain
storage - The storage contains balance, state, last transaction logical time, and initial code hash
The address is the entry point for inbound messages, and it's the unique identifier of the contract storage which stores such data as balance, state, last tx logical time, and initial code hash.
The account address is represented in two parts: an identifier of the workchain where 1st part is the account storage is located, and 2nd part is the hash of the initial data.
Example: 0:0000000000000000000000000000000000000000000000000000000000000000
0 – workchain_id. An unsigned 32-bit integer is an identifier of a workchain.
0000...0000 – account_id. A 256-bit address is determined by the hash of the contract code and initial data.
Currently defined workchain IDs list
-1
The masterchain contains the information about a network configuration
0
The basic workchain is used by regular users to work with smart contracts and transfer tokens
last_trans_lt - a last transaction logical time
balance - the number of VENOMs on the account balance
init_code_hash - hash of the contract code with which the contract was deployed for the first time
state - a current state of an account, can be one of the following values:
uninit - the account only has a balance; its code and data have not yet been initialized
active - the account’s code and data have been initialized as well.
frozen - the account’s code and data have been replaced by a hash, but the balance is still stored explicitly. The balance of a frozen account may effectively become negative, reflecting due storage payments.
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Any users who needed to call smart contracts, store, send and receive Venom tokens in the network must have a wallet account. A wallet account is a smart contract in the Venom network designed for this purpose.
When a user wants to transfer some funds from a controlled wallet account to some other wallet account, In this case, the user sends a signed external message to the wallet account, then the wallet account authorizes the sender and allows them to pay for the transaction fee from their balance, and transfer funds from a wallet balance to the balance of another wallet account.
Anyone wanted to send tokens to another wallet account must know the recipient's address. The important concept here, there is an easy way to calculate an address even before the contract is deployed on the network and send funds to it. It follows that anyone can send tokens to a recipient whose contract has not yet been deployed, and those tokens will be accepted and the contract deployed.
A wallet account with simple logic transferring funds. Suitable for most users.
A multi-signature wallet is a wallet that is used by two or more users to enhance security by requiring signatures from multiple parties to sign transactions before execution.
