Account

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

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 with access to the private key ultimately has control over the account.

Note

The private key must be kept secret. 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.

Balance

The amount of different mosaics units the account owns.

Importance

The importance score determines the probability of an account to harvest the next block in case the account has harvesting turned on and all other accounts are harvesting too.

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.

Restrictions

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

Guides