Blockchains like Bitcoin or Ethereum use addresses to represent individuals in transactions. Tokens are transfered from one address to another, and each address has its own token balance. However, EOSIO-based blockchain use accounts as the basic unit to store tokens and act as individuals in blockchain transactions.
An EOSIO account can have a human readable name so it will be easy to remember. The account name is a string of max length 12 consists of small letters a-z, digits 1-5 and dot.
Create an Account¶
A new EOSIO account needs to be created by another existing account. Creating an account will require some EOS tokens to purchase the resources needed to store the account’s basic information, such as its own name and token balance.
A special feature EOSIO offers is that an account can process multiple levels of permissions, each of which has unequal authorities to approve different sets of transactions. Such design can provide greater security for EOSIO blockchains because users can set up and use a low-privilege permission in daily transactions. Losing this permission wouldn’t cause too much damage because it can only perform limited transactions, and users can use a high-privilege permission to recover the lost one.