Saving Account

A Saving Account in the context of the Steem Blockchain is a way for a user accounts to secure their tokens through a time-lock mechanism. If a user’s active or owner key is compromised, the attacker has full access to all of the funds in their account. Because blockchain transactions are irreversible, users usually have no way to get their funds back after they have been stolen. The Steem blockchain allows users to store their STEEM and SBD in a savings account, so that the funds may not be withdrawn until after a three day waiting period.

Last Updated: 10/5/2018, 8:13:44 PM