AMBR External and Contract accounts

Ambr has two types of build in accounts:

External accounts and Contract accounts

An external account or user account has a private key that can own currency. Transactions can be sent to other externally owned or contracted accounts by creating and signing said transaction using a private key. The transaction transmitted between two externally owned accounts is simply a value transfer. The same can be sent from an external account to the contract account, which activates the code of the contract account and allows it to perform various actions. (transferring tokens, writing to internal storage, dig out new tokens, performing calculations, creating a new contract, etc.).

A contract account cannot initiate a transaction on its own. Instead, the contract account triggers a transaction in response after receiving a transaction (from an externally owned account or another contractual account). In the Ambr system, all transactions and messaging are initiated by external accounts.