Components of Ethereum
Let's discuss some general components of Ethereum, its primary currency, network, and other details. This will help in understanding Ethereum in a much better way and also help us see how it is different to Bitcoin and why it has a huge community, currently making it the most important cryptocurrency and blockchain project, second only to the Bitcoin blockchain.
Ethereum accounts
Ethereum accounts play a prime role in the Ethereum blockchain. These accounts contain the wallet address as well as other details. There are two types of accounts: Externally Owned Accounts (EOA), which are controlled by private keys, and Contract Accounts, which are controlled by their contract code.
EOAs are similar to the accounts that are controlled with a private key in Bitcoin. Contract accounts have code associated with them, along with a private key. An externally owned account has an Ether balance and can send transactions, in the form of messages, from one account to another. On the...
