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I have started working on EOSIO. I am following this document. I have created a wallet using cleos. Then open, unlock and import key in it. After that according to document, we need two accounts to transfer token between them.

So, I have some questions.

1) Why we need an account to transfer token?

2) Is it possible to transfer token between two wallets directly instead of accounts?

3) How does two account work on one wallet?

Thank you.

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Before answering your questions, let's clarify some things. Unlike Ethereum, EOS has the concept of accounts where your crypto currency would be lying. So, any transactions of EOS or any other EOS based token would be taken among accounts not wallets. Here, wallets are only used to store your private and public keys which are used to set permissions.

1) Why we need an account to transfer token?

Unlike Ethereum where wallet holds your crypto assets, here in EOS accounts do that. So, without account you won't be having any tokens.

2) Is it possible to transfer token between two wallets directly instead of accounts?

Wallets do not hold tokens, they only keep your private and public keys.

3) How does two account work on one wallet?

As I mentioned above, wallet holds your keys, so you can use the keys present in your wallet to associate with any number of accounts.

HTH.

  • Thank you so much for your answer. – msc Jul 30 '19 at 10:04

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