A ledger design where balances are tracked by accounts rather than discrete outputs.
In the account model, the ledger tracks each account's balance and state directly. Transactions specify senders and recipients, adjusting balances accordingly. Ethereum popularized this model for smart contracts, where account state also includes contract code and storage.
This contrasts with the UTXO model (Bitcoin, Bitcoin Cash), where coins are discrete outputs that are consumed and created, improving parallelism and privacy characteristics.
All terms and definitions may update as the Cryptionary improves.