Safex Account

In addition to regular users that use the wallet for storage of funds and use Safex Cash for payments, we can define advanced users in the blockchain who can do additional operations.

Advanced users must be registered on the network via a special transaction that is storing their newly generated public key and their unique username. The account that is registered this way is called Safex Account. With newly generated public and private keys, advanced users are not wallet-bound, meaning a user can migrate their advanced user account from wallet address to wallet address, as long as they have their private Safex Account key.

NOTE: As of Marketplace V1, all product payments for the user who created a product listing on the blockchain are bound to the Safex address that is given when the offer is created. By default, that is the address of the wallet from which the offer is created. This means that if a user loses keys to the wallet for payments, it can open Safex Account on another wallet and deactivate/close all the offers that are bound to the address that he is no longer using/has no access to. After this, new offers with the new Safex address for payments can be created.

After creating a Safex Account, users can send special transactions for creating and editing offers or send special transactions for creating and updating price oracles. Each advanced input with data that user wants to create or edit is signed with Safex account private key and verified on the network with the public key that is submitted during the registration.

To prevent overpopulation of the network, every user who wants to create a Safex Account must lock 1000 Safex Tokens for 22000 blocks. After this period, Safex Tokens are unlocked and can be used as normal.