Default VEX Blockchain Account (12 Character)
Vexanium (VEX) uses a different account structure than most blockchain you know. Even though it may look complicated at first, it’s not so difficult once you understand the basics, all of which will be discussed in this article. So, how exactly does a VEX (VEX Address) blokchain account work?
VEX Premium Blockchain Account (under 12 Character)
This account is a premium account obtained from bidding on the blockchain through namebid.vexanium.com, every day there is 1 premium account that will win the bid process, so there will be 365 premium accounts in 1 year
VEX Blockchain Account Structure
Each user has one or more accounts on the Vexanium blockchain. VEX blockchain accounts are stored human-readable identifiers
On the blockchain and they are required to push or transfer
any transaction (valid) to the Vexanium blockchain. This account also has permission configuration. A VEX account consists of 12 characters and can contain letters a-z and numbers 1-5. These account names replace the long, awkward wallet addresses used in most other blockchain.
Furthermore, each VEX blockchain account has a unique Permissions configuration. Permission can be seen as a requirement that must be met for the transaction to be passed. VEX accounts by default have 2 permissions, namely:
Owner: indicates ownership of the account and is required to make any changes to the ownership of the account. The key to this permission is best kept securely, because they don’t need to do much in the Vexanium blockchain network.
Active: used to transfer funds (VEX Coin or token under VEX), vote for Block Producer (Voter) and make other high-level account changes.
In addition to the 2 default permissions you can create new, special permissions that suit your needs. Each permission has one or more key or account names associated with it. Each key from a VEX account associated with a permit has a certain Weight, and each permission has a certain Threshold that must be met before a transaction that requires a permit can be accepted.