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What is an Ethereum wallet address?

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Apr 11, 2024 pm 01:35 PM

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An Ethereum wallet address is a numeric address where Ethereum and other Ethereum-based cryptocurrencies are stored, similar to a bank account number, and is used to send and receive funds. They consist of a 40-42 character hexadecimal string, including a prefix (such as "0x") and an address hash (unique identifier). The address hash is generated by operating on the public key. There are two types of Ethereum addresses: external ownership addresses (used for sending and receiving funds) and contract addresses (used for interacting with smart contracts). To be safe, use a reputable wallet application and always keep your software and systems up to date.

What is an Ethereum wallet address?

#What is an Ethereum wallet address?

Ethereum wallet addresses are digital addresses that identify and store Ethereum and other Ethereum-based cryptocurrencies. It is similar to a bank account number and is used to send and receive funds.

Composition of Ethereum wallet address

Each Ethereum wallet address is represented by a hexadecimal string of 40-42 characters, which can be divided into It has two parts:

Prefix: A prefix of one or two characters, such as "0x", indicates that the address is based on Ethereum.
Address Hash: 38 or 40 character hash value representing a unique identifier of the wallet address.

How to generate address hash?

The address hash is generated by operating on the wallet's public key. The public key is a 64-character hexadecimal string that corresponds to the private key (a secret number known only to the owner).

Types of Ethereum Addresses

There are two types of Ethereum addresses:

External ownership addresses: Used to send and receive funds.
Contract address: Used to interact with smart contracts (programs that run according to predefined rules on the Ethereum network).

Security Tips

Never share your private key with others.
Use a reputable wallet application to store your Ethereum.
Keep software and operating systems up to date to protect against security breaches.

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