-
Notifications
You must be signed in to change notification settings - Fork 72
Smart Account
Weiwu Zhang edited this page Dec 13, 2019
·
3 revisions
A Smart Account is a smart contract whose address is the owner of assets and tokens.
Again smart account is not smart. It simply has richer and rigid functions and security risks that come with them, thanks to being driven by a smart contract.
A smart account might have any of these features:
- Authorisation - user authorises someone to take money from his Smart Contract Wallet.
- Delegation - user chooses some smart contract or someone to trade for him.
- Security Policies - take threshold policy for example. A user configures a threshold so that transactions beyond the threshold require 𝑛 days of delay or 3rd party signature or the use of a hardware wallet.
- Account Recovery - user chooses a few friends or authorities to assign the account ownership to a new key pair.
- Deadman's switch - the money is redeemable by a beneficiary if not touched 3 years.