Who is the representative of unreceived funds?

When storing NANO long term I'm thinking about using a seed, that is encrypted immediately after generating it and writing down some addresses of the seeds accounts. The key I would need to decrypt that seed would be stored in a far away safe place.

Thus I could not create receive blocks for funds that I store in this "long-term-savings-wallet". This leads me to the question: Who is the representative of unreceived funds? Is it the sender (mostly an exchange platform in my case), the receiver (if so, what happens if the account hasn't even been opened yet?) or are these funds not participating in ORV?

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Great question! Would love to know too actually.

It just occurred to me that I can just try it out myself. I created two accounts with different representatives. Account A and B both have 0.1NANO and there is an unreceived transaction of 0.1NANO from account A to account B. Each representative has 0.1NANO delegated to them, so it seems like pending funds do not participate in ORV.

For reference:

I also found this in the documentation:

Their voting weight is the sum of balances for accounts delegating to them [...]

Which seems to support my findings, since pending funds are not accounted for in the balance of either account in the transaction.


I'll take away, that it is thus still better for decentralization to withdraw my funds from exchanges, even if I don't receive the funds. It is, however, not as good for the network as receiving the funds would be.

Related GitHub issue:

Thanks for your response, it's good to see that this topic has been discussed before!

I'm not sure, though, if I share your opinion, that the sender should still be the one who has voting rights with the unreceived funds. Doing this would further increase the voting weight of exchanges in the scenario I described in my initial post (which I would consider a bad thing, since exchanges already have a lot of voting weight). I haven't, however, analysed where unreceived founds most commonly come from and go to in the current state of the ledger...

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