By: Geeq on Sep 14, 2022
Ordinary user accounts are coin asset accounts controlled by its public-private key (PPK) pair. When a coin asset account is created, a coin asset account record is created in the validation layer ledger. These user accounts may contain coins, NFTs, and fungible tokens. A user may send and receive any of those assets using (the same) standard transactions. When those transactions are validated and written in the validation layer block, balances are updated in the validation layer ledger.
Proxy accounts are user accounts that require additional validation criteria. Conceptually, it is helpful to distinguish them from ordinary user accounts by imagining their functions. An individual controls their own coin asset accounts and may wish to assume anonymity. In contrast, an administrator may control a proxy account and wish to separate the proxy account’s PPK from their personal PPK.
A proxy account must be created in order to mint NFTs.