What are Proxy accounts?
Much like controller accounts in staking, proxies allow users to use an account (it can be in cold storage or a hot wallet) less frequently but actively participate in the network with the weight of the tokens in that account. Proxies can be viewed as a more powerful and flexible version of a controller account, i.e. proxies are allowed to perform a limited amount of actions related to specific substrate pallets on behalf of another account. The video below contains more information about using proxies.
Source — Polkadot Wiki
Why use a Proxy?
Proxies are helpful because they let you delegate efficiently and add a layer of security. Rather than using funds in a single account, smaller accounts with unique roles can complete tasks on behalf of the main stash account. Proxies can be hotter than the initial account, which can be kept cold, but the weight of the tokens in the colder account can be used by the hotter accounts. This increases the security of your accounts by minimizing the number of transactions the cold account has to make. This also drives attention away from the stash account, although it is possible to determine the relationship between the proxy and the proxied account.
From the security perspective, we can imagine proxies as bodyguards of a VIP, loyal and ready to risk their lives to ensure the VIP’s protection. But proxies are also useful in other contexts such as efficient account management at the corporate level. They also provide an elegant solution to change signatories within multi-signature accounts, and they can be used within proxy calls and nested proxy calls. In this page we will explore all these interesting use cases of proxies within the Polkadot ecosystem.
Source — Polkadot Wiki
How do you use proxy on Polkassembly?
- You just have to link proxied account with your polkassembly account to be able to edit onchain post.
- Go to https://polkadot.polkassembly.io/settings click link proxy address button
- There are 2 input fields. Proxied account (The account which is the proposer of onchain post) & Proxy account (the account you have access to which is a proxy of proxied account). You will be asked to provide a signature and proxied account will be linked to your Polkassembly account which allows you to edit onchain posts.
Hope this helps whoever has struggled earlier! Do let us know if there is any thing we could improve or help with!