Payment system
What is a WOTS ?
The WOTS is a unique public identifier for an account. It's the adress that you send to someone else to receive a payment. The WOTS is usually coded in hexadecimal and is 4416 characters long. It consists of two parts:
- The unique signature
- The TAG
The first part, the unique signature, is the public key. It changes every time you make a transaction. It's 4392 hexadecimal characters.
The Mojo wallet generates 100 unique signatures by the time you create a wallet. Every signature consists by 2 parts: the public and the private.
The public signature, as said before, makes the first 4392 hexadecimal characters of the WOTS.
The WOTS, as said before, changes at every transaction. So how can someone send some Mochimos to someone else?
A WOTS to be enabled should include also the TAG part. The TAG part constists by the last 24 characters of the WOTS. The TAG never changes.
When the WOTS is generated doesn't include a TAG, but it ends with this standard tag:
- 420000000e00000001000000
The WOTS to be valid should include the unique TAG identifier. In this case to activate a WOTS assigning a TAG you need a special transaction. That transaction is performed by the fountains. They perform a small payment, then the miners will incorporate that transaction in the mining block and, after the block is mined, the TAG is permanently assigned: noone can take it, noone can change it (also the owner can't), unless the account has not the minimum Mochimos required.
Performing a transaction
All below this refers to the Mojo wallet. If you need a detailed process of all this take a look Exchange_Integration
