Established Accounts

Established accounts

Unlike implicit accounts, which exist as soon as the keypair is generated, an established account must be initialized with an on-chain transaction. It is associated with one or more cryptographic keys.

Generating an established account

Before submitting the transaction to initialize an established account, you must have created an implicit account and funded it with enough funds to pay for the transaction fees.

Initializing an established account entails submitting an init-account transaction on-chain to associate the account with one or more public keys. We'll use the aliases my-implicit and my-established in this example, where the my-implicit account is assumed to have been previously been created and funded.

We can create a new established account my-established and associate it with the public key of my-implicit with:

namadac init-account --alias my-established --public-keys my-implicit --signing-keys my-implicit --threshold 1

Note that:

  • the implicit account my-implicit is required to sign the init-account transaction and pay the associated fees (with the --signing-keys argument)
  • One public key is being associated with the account, and the signing threshold is 1. Technically, all established accounts are multisignature accounts and therefore a 'typical' established account can be considered a '1 of 1' multisignature account. See here for further details on using multisignature accounts with multiple keys.