Stellar Development Foundation Launches New Account Model, How Users Will Benefit
11 Enero 2022 - 04:00PM
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Via an official blog post, the Stellar Development Foundation (SDF)
announced a new account model called Muxed. Created to remove
friction and facilitate user interaction with the account model
based on this network, and the multiple services build on top of
it, the Muxed accounts seem to be an important improvement for the
entire ecosystem. Related Reading | Stellar Network Processes 1.8
Billion Transactions, Was 2021 Its Best Year Ever? According to the
post, a Muxed account is one that combines the GABC and 64-bit
integer ID to create a “virtual” account under a traditional
address. Due to its characteristics, a muxed account can be
identified within a real account. Thus, if there is a service or
product using Stellar to pool multiple accounts, they can now
manage them with more ease and will be able to eliminate burdensome
issues, such as meme problems. The SDF has called on “products and
services built on Stellar” to check if the validators are
compatible with the new account model and asked them to “come up
with a plan to implement” muxed accounts into their system. The
organization said: Custodial services generally use muxed accounts
to map incoming payments to an internal customer database.
Businesses may use muxed accounts to map incoming payments to an
invoice or customer account. Other characteristics for muxed
accounts, as revealed by the SBF, are the differences in its
encoding, they will be 69 characters long and not 56 as a
traditional account, and in their base values. As a result, Muxed
accounts will have M as their first character rather than G. Muxed
To Improves Transaction Experience On Stellar Per its GitHub
repository, Stellar’s new account model could open more
possibilities for the users, and all actors operating on this
network and could finally remove the limitations of using a
memo-based model: Experience shows that people frequently forget to
include the memo ID, resulting in either lost funds or onerous
support calls. Moreover, memo IDs are per transaction, not per
occurrence of an account ID, which imposes restrictions on the use
of multiplexed accounts. (…) By adding an optional memo ID to the
account ID type, we make multiplexed (Muxed) accounts a first-class
abstraction that can be used anywhere a normal account ID can be
used. This could significantly improve the way exchanges and
custodial services operate with Stellar transactions, and users
will save time and money as they will no longer need to manually
participate in a transaction. The SBF revealed that muxed accounts
was implemented in the Protocol 13 update. This update was
introduced in 2020, but muxed accounts remained hidden until
yesterday, January 10th, 2022. Due to its incompatibility with
older versions of the Stellar software, projects on this network
were given time to update and adjust to the new model. Related
Reading | How Stellar Will Host Ukraine’s CBDC Pilot Test With
Tascombank As of press time, XLM trades at $0.22 with sideways
movement in the 4-hour chart, as seen below.
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