Assets, Ethereum

What Is the Token Address for Ethereum?

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.

In order to run these applications, Ethereum uses a custom built blockchain, which makes use of a specific data structure to keep track of all the information related to the running of the smart contracts, called ‘accounts’.

Each account has a ‘balance’, which represents how much ‘ether’ (the native cryptocurrency of Ethereum) is stored in that account, and a ‘nonce’, which is a counter used to make sure each transaction can only be processed once.

account1 = { ‘ balance ‘ : 100 , ‘ nonce ‘ : 0 } account2 = { ‘ balance ‘ : 200 , ‘ nonce ‘ : 0 }

NOTE: WARNING: It is important to be aware that the token address for Ethereum is not a secure way to store your Ether or other cryptocurrencies. This can be dangerous if someone else has access to the token address, as they can steal your funds. Therefore, it is recommended that you always use a secure wallet for storing your Ether and other cryptocurrencies.

In addition to these standard fields, each account can also have an ‘address’ field, which contains the address of the account. The address is derived from the public key of the account, and is used to identify the account on the Ethereum network.

> eth . accounts [ 0 ] “0x4c0883a69102937d6231471b5dbb6204fe5129617082792ae468d01a3f362318” > eth . accounts [ 1 ] “0xfac5962aa8d88e5224f5c2cc9ae337a09759d1b1f336e742bcbea55fbf4cae50″

The address is also used to generate the ‘private key’, which is used to sign transactions coming from that account. The private key is derived from the address, and is used to prove that the transaction was indeed initiated by the owner of the account. accounts . create () { ” address ” : ” 0x2c7536E3605D9C16a7a3D7b1898e529396a65c23″ , ” privateKey ” : ” 0xdce14cf7e54f09cdff6f4fb85f02ba2df1d947864cf64247fd4af08fcae66fa3″ }

The combination of the private key and the address is what we call an ‘Ethereum account’.

Previous ArticleNext Article