What are the different types of “Account” in Ethereum?

Modified on Sat, 18 Feb 2023 at 08:55 PM

Bitcoin uses a “Bitcoin address” where Bitcoins are sent and stored. Similarly, Ethereum (ETH) has 2 types of accounts or addresses which are

  1. Accounts that hold ETH: This account is called “Externally Owned Accounts (EOAs)”. You can make an ETH transfer or payment by signing transactions with a private key in this account. 
  2. Accounts that hold ETH and smart contracts: This account is for smart contracts. Remember, smart contracts can only be activated by sending ETH into them. After a smart contract has been coded and uploaded, it will sit in this account and wait to be activated.

Interested to buy Ethereum? Check the Market Now: https://www.bitkub.com/market/ETH 

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