Assets, Ethereum

What Is an EOA Ethereum?

An EOA, or “Externally Owned Account”, is a type of cryptocurrency wallet that is controlled by a private key, which is held by the user. The key allows the user to send transactions from the wallet, and to sign contracts on the Ethereum blockchain.

An EOA can be used to hold ether, as well as to interact with smart contracts on the Ethereum blockchain.

NOTE: Warning: Investing in Ethereum or any other cryptocurrency comes with a significant risk of loss. Before investing, it is important to do your own research and understand fully what an EOA Ethereum is and how it works. You should never invest more money than you can afford to lose and always consult a financial advisor before making any investment decisions.

A key difference between an EOA and a contract account is that an EOA can send transactions, while a contract account can only receive them. This is because contract accounts are controlled by their code, not by a private key.

EOAs are often used to hold ether that is being sent to or from exchanges, or to sign transactions for ICOs.

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