Ethereum addresses demystified
<p>Ethereum addresses are a fundamental part of the Ethereum blockchain, serving as the public identifier for Ethereum wallets. These addresses are used to receive and send transactions, store and manage smart contracts, and interact with decentralized applications (dApps).</p> <p>There are two main types of Ethereum addresses: externally owned addresses (EOAs) and contract addresses. EOAs are used to represent the wallets of Ethereum users, and they are controlled by private keys. These addresses are used to send and receive transactions and participate in the Ethereum network. (An address represents your identity on the blockchain) The second type — contract addresses represent smart contracts on the Ethereum blockchain. They are created when a smart contract is deployed and can be used to interact with and execute the functions of the contract. If the data sent to a contract cause an error, any actions taken by the contract to that point are reversed, although the gas fee is still collected.</p> <p>Ethereum addresses are generated using a cryptographic hashing function called Keccak-256, which takes in a user’s public key and produces a unique, fixed-length output. This output is then shortened to create a more user-friendly address, which typically starts with “0x” and consists of a string of 40 hexadecimal characters.</p> <p>Ethereum addresses are essential for the security and privacy of Ethereum users. They serve as the public identifier for a user’s wallet, allowing other users to send transactions to them. However, the address itself does not contain any sensitive information, such as the private key, which is used to control the wallet and sign transactions. This separation of the public address and private key allows users to share their address without compromising the security of their wallet.</p> <p>One way to obtain information about Ethereum addresses is by using <a href="https://etherscan.io/">EtherScan</a>.</p> <p><em>In summary, Ethereum addresses are a crucial aspect of the Ethereum blockchain. They provide a unique and secure way to identify and interact with Ethereum wallets and smart contracts. Whether you are a developer creating a dApp or a user participating in the Ethereum network, understanding Ethereum addresses is essential for navigating the Ethereum ecosystem.</em></p> <img src="https://medium.com/_/stat?event=post.clientViewed&referrerSource=full_rss&postId=2cd19f3560b0" width="1" height="1" alt="">