3.2 Ethereum: Types of Ethereum Accounts

Regulators

________ can use the Blockchain to understand the activities in the market while maintaining the privacy of an individuals position.

optional contract

A(n) ________ between the parties is written as a code into the Blockchain.

Externally Owned Accounts (EOA)

EOA is an account controlled by a private key that has the ability to send Ethers and messages from it.

Smart Contract

A ____________ is a code running on top of the Blockchain containing the set of rules for the nodes to agree upon so that they interact with each other.

Blockchain

Regulators can use the _____________ to understand the activities in the market while maintaining the privacy of an individual’s position

Features of Smart Contracts

The simplest form of decentralization

Lowers transaction cost

Eliminates the need for the third party

Automatic agreement enforcement

A higher degree of security

Turns legal obligations into automated processes

transaction

Smart contract lowers ___________ cost

decentralization

Smart Contracts are the simplest form of ______________.

automated

Smart contracts turn legal obligations into _________ processes

third party

Smart Contracts eliminates the need for the _________ _________.

Characteristics of Smart Contract

Self-verifying

Self-executing

Cost Saving

Tamper Resistant

Private key

EOA is an account controlled by a _____ _____ that has the ability to send Ethers and messages from it.