Stellar Development Foundation Launches New Account Model, How Users Will Benefit

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 lo...