What are Permissions
In Graphene-Based blockchains, each account is separated into several permissions, such as
This permission has administrative powers over the whole account and should be considered for backup strategies.
Allows to access funds and some account settings, but cannot change the owner permission and is thus considered the “online” permissions.
Both can be defined in the Permissions tab of your account using so called authorities (see below) together with a so called threshold that has to be exceeded in order for a transaction to be valid.
An authority consists of one or many entities that authorize an action, such as transfers or trades. They consist of one or several pairs of account names or public keys with each having a weight associated with it. In order to obtain a valid transaction, i.e. obtain sufficient authority, the sum of the weights from signing the parties has to exceed the threshold as defined in the permissions.