Node Account definition

Node Account means the Network Account associated with a node which receives Node/Staking Rewards from Hedera and Node Fees from Clients. Node Accounts can be either Member- Controlled or Hedera-Controlled.
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Examples of Node Account in a sentence

  • Each Member must decide whether (a) the Member (or one of its Affiliates) will own and control its Node Account, including any Coins within (a “Member-Controlled Node Account”), or (b) Hedera will own and control such Node’s Node Account, including any Coins within (a “Hedera-Controlled Node Account”).

  • A Member may, upon written notice to Xxxxxx, switch from a Member-Controlled Node Account to a Hedera-Controlled Node Account, or vice-versa.

  • Node Fees are paid by a Client directly from the Client’s Account to the designated Node Account of the Node that submits the Client’s transaction to the Network.

  • For a Hedera-Controlled Node Account, (i) Hedera will not disclose the private keys of such account to the Member at any time, (ii) such Member will have no ability to control, access, or otherwise transact with the Coins in the Hedera-Controlled Node Account, and (iii) such Member will forfeit all current and future ownership rights to the Coins in the Hedera-Controlled Node Account.

Related to Node Account

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Client Account means the unique personalised account of the Client consisting of all Completed Transactions, Open Positions and Orders in the Trading Platform, the balance of the Client money and deposit/withdrawal transactions of the Client money.

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;