Types of Ethereum Account

Types of Ethereum Account

There are two types of Accounts that most of the Crypto-Peeps uses

  • EOA

  • Contract Accounts

Let's dive deep into the theory

  1. EOA

    - EOA stands for Externally Owned Account

    - Simply an account can be controlled by anyone with the private keys

    For example

    Your Metamask wallet is your EOA which has private-key

    A Beginner's Guide to Using Metamask Wallet

  2. Contract Accounts

- A SmartContract deployed to the network, controlled by code.
- A SmartContract in itself is an account that is controlled by code than a private key

Smart Contracts for Business Owners [2023 Complete Guide]

For example
SmartContract is used as a wallet to Store, Transfer cryptos.

function withdraw()public payable {
    require(msg.sender == owner , "Not the owner of this contract Account");
    // widthdraw process..
}
// so you see it is controlled by code rather then any private key 
// here only the owner can withdraw tokens

Difference in Accounts

  • controls

  • accessibility

  • transaction and calling other accounts

What Are Smart Contract Wallets, and How Can They Benefit DeFi Users?

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