An account is a single repository of value on the ndau blockchain. An ndau holder may have many ndau accounts, managed together in an ndau wallet application. An account is identified by a unique address.
An account has a single balance and a single address that never changes. All ndau held in an account are indistinguishable: no transaction can specify which ndau in an account are to be affected by it, as there is no reason to do so. Unlike other digital currencies, ndau accounts have additional attributes other than their balances (e.g. lock status, weighted average age, etc.), so the words ‘account’ and ‘address’ are not synonyms. Every account has exactly one address, and every address is associated with exactly one account.
An account is created when a new valid ndau address is specified as the target of a transfer transaction or as the recipient of ndau newly released from the Endowment. Accounts are always identified by their addresses in ndau transactions.
Any number of transfers may be made into a newly-created account. No transfers may be made out of that account, nor any other operations performed on it, until a transaction-validation script and a valid set of signing keys has been assigned to it. Those validation rules govern all further transactions on the account. No transaction may be submitted unless it is properly signed with one or more of the currently-valid keys assigned to the account.