Account

An account is a key pair (private and public key) associated with a mutable state stored on the NEM blockchain. In other words, you have a deposit box, which only you can modify with your private key.

Note

The private key has to be kept secret at all times. Anyone with access to the private key, ultimately has control over the account.

Think of an account as container for assets. It can be used to hold XEM or other mosaics, whether they are tokens or specialized assets.

Moreover, NEM accounts can also represent non-fungible assets that must be unique and updatable: a package to be shipped, a house deed or a document to be notarized.

Properties

Accounts have the following properties:

Private key

A private key is a key to an account. Anyone having the private key to an account can initiate any account related action.

Note

The private key must be kept secret at all costs. Make sure your private key is backed up safely somewhere offline.

Public key

The public key can be used to verify signatures of the account. The public key is stored in the blockchain with the first issued transaction. An account which has not issued any transaction has its public key field empty.

Address

Each account has a unique address. You will normally share the derived address instead, as it is shorter and gathers more information.

Mosaics

The amount of different mosaics the account owns.

Importance

The relation between the amount of harvesting mosaics the account owns and the total mosaic supply.

Multisig Account

Accounts become truly smart when configured with special rules – directly on the NEM blockchain – that define how they relate and control each other, as well as how their contents can be updated and transferred.

One crucial type of rule is multisig control that allows ownership of account based assets to be shared in a variety of ways between multiple parties.

Filters

Accounts may configure a set of smart rules to block announcing or receiving transactions given a series of constraints.

Guides