Ethereum (Part 2)

Information About The Cryptocurrency Token/Coin: ETH

Information About Ethereum:

From Wikipedia: There are two types of accounts on Ethereum: user accounts (also known as externally owned accounts) and contracts. Both types have an ETH balance, may send ETH to any account, may call any public function of a contract or create a new contract, and are identified on the blockchain and in the state by their address.

User accounts are the only type which may create transactions. For a transaction to be valid, it must be signed using the sending account’s private key, the 64-character hexadecimal string from which the account’s address is derived. The algorithm used to produce the signature is ECDSA. Importantly, this algorithm allows one to derive the signer’s address from the signature without knowing the private key.

Contracts are the only type of account which has associated code (a set of functions and variable declarations) and contract storage (the values of the variables at any given time). A contract function may take arguments and may have return values. Within the body of a function, in addition to control flow statements, a contract’s code may include instructions to send ETH, read from and write to its storage, create temporary storage (memory) that dies at the end of the…