Account

In the realm of blockchain technology, an account serves as a digital representation of a user, enabling them to engage in transactions and interact with other accounts on the blockchain. The fundamental role of an account is to validate the user's identity and authorize transaction signatures.

There exist two primary types of accounts:

• Externally Owned Accounts (EOA): An EOA represents an individual user and is associated with a private key that allows them to sign and validate transactions.

• Contract Accounts: often referred to as Smart Contract Accounts, implement and execute predefined code on the blockchain. These accounts can autonomously interact with other accounts based on the conditions and logic specified within the smart contract. Abstract Account, functions as a type of smart contract account that operates within the predefined rules and actions encoded in its contract code.

An account on the blockchain serves as a digital identity associated with a user, allowing them to validate their transactions and engage with other accounts. Whether it is an EOA or a Contract Account, accounts play a vital role in facilitating secure and transparent interactions within the blockchain ecosystem.