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Is there an analog of transferOwnership in Tezos?

It looks like it's possible to make custom FA2 contract and change owner. Is this correct?

Looking for an authorative answer

2 Answers 2

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There is no notion of owner of a smart contract in Tezos (anymore).

However, smart contracts can implement some custom logic to describe what managing them means (and typically store some admin address in their storage).

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Smart contracts are managed by the private key that created it. Transferring ownership means to transfer the private key to the new owner.

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  • This message seems to imply that the blockchain treats the private key that created a contract in a special way. This is not true. Also, contracts can originate other contracts. Who would be the owner?
    – FFF
    Sep 13 at 14:18
  • If I want to transfer tez from my multi-sig to a tz1, I must provide the contract's manager private key to create the bytes for signing. I must also provide the manager pk to do other management operations on the smart contract. Is that not ownership?
    – utdrmac
    Sep 13 at 18:06
  • This is not related in general to who created the smart contract in the first place. This is simply a specific smart contract having the corresponding public key in its storage.
    – FFF
    Sep 13 at 19:30

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