Accounts, Transactions, and Wallets

Accounts are the entities responsible for issuing transactions within the Locus Chain.
Each account possesses a unique account address, which serves as a distinct identifier across the entire network. These addresses also function as public key values, enabling the signing of transactions using the corresponding private key.
General user accounts are responsible for initiating transactions based on direct user actions, while smart contract accounts execute transactions in response to the execution of associated program code.

Account addresses uniquely identify accounts within the Locus Chain. They are cryptographically generated and correspond to the public key of the account. This ensures the origin of transactions is transparent and prevents external tampering.
Transactions specify the sender and recipient using account addresses. The sender signs the transaction with their private key, and the network verifies this signature using the public key associated with the account address. This process guarantees the transaction’s integrity and maintains data immutability.
Account addresses are synonymous with wallet addresses when used to designate the recipient of digital assets. Users can initiate and receive coin and token transfers using wallet addresses, facilitating the tracking and clarification of ownership without disclosing the user’s identity. Additionally, wallet addresses contribute to transparent asset movements within the network.

Transactions are the fundamental units of operation for transferring data between accounts in the Locus Chain Network. They encompass tasks such as data exchange, asset transfer, and smart contract execution. Each transaction is unique and cannot be duplicated.
It is also possible to send transactions to oneself. An account can issue a transaction to itself to record data or update account status. These self-referential transactions are suitable for specific purposes, such as executing smart contracts, and operate independently without a counterparty.
A common example involves sending coins or tokens using a wallet, generating a remittance transaction. Users create these transactions to transfer digital assets from their accounts to others. The signed transaction data is broadcast to the network, verified, and recorded in the ledger, ensuring reliability through digital signatures.

Wallets reflect the internal state of a Locus Chain account, including the balance of coins and tokens held by the account. Each account has a unique wallet state.
For instance, a wallet shows the balance of coins and tokens owned by an account. Wallet states are updated through issued transactions, with balances computed based on all transaction records.
Wallet contents are entirely public and cannot be hidden. Due to the transparent nature of blockchain networks, wallet state information is accessible to everyone. All transactions are recorded on the ledger, enabling verification of wallet balances and ownership.

Locus Chain accounts are structured similarly to those in existing blockchain systems, ensuring easy adaptation for users familiar with blockchain.
Locus Chain accounts support both digital asset transactions and smart contract execution, enabling automated enforcement of contractual terms and ownership management. These features position Locus Chain as a central player in digital services and applications.