Concepts | Concept Map

Wallet

A software application that helps you manage your Ethereum account

Multisig Wallet

Account

One private key equals one “account”’

“Not your keys; not your funds”

  1. Externally owned account (EOA)
    1. Accounts that have a private key (control over access to funds or contracts)
    2. Can initiate transactions
  2. Contract account
    1. Has smart contract code, which a simple EOA can’t have
    2. Does not have a private key; it is owned and controlled by the logic of its smart contract code
      1. Recorded on Ethereum blockchain
      2. Executed by the VM
        1. When a transaction destination is a contract address, it causes the contract to run in the EVM, using the transaction, and the transaction’s data as input
          1. Transactions contain data indicating which specific function in contract to run and what parameters to pass to that function
    3. Cannot initiate transactions
    4. React to transactions by calling other contracts
      1. Composable contracts, money legos
      2. Ex: EOA → Request TX to multisig wallet → Send ETH to another address

Transactions