Web3bridge Students (cohort 11) Share What They’ve Learned: An Account

my name is Michael muku OK we are going to be talking about account accounts uh basically is basically an entity that contains a balance and can uh send transactions to the network so we have two types of accounts we have an externally owned account or an EA and we have a smacked contract account uh uh an extendedly owned account is an account that is usually has a balance has an address uh a nons has an optional storage and a code hash and is controlled by the public and the private key and whoever possesses this public and private key controls the account and the smart contract account is usually controlled by code and uh is deployed to the network and people can interact with it so the major difference between these two types of accounts is that um while doing account creation an EA or an externally owned account is basically created for free you don't pay to create uh an EA but while creating uh a smart contract account you have to deploy to a zero address and the fee is charged for creating such an address and uh interacting interactions between EAS is basically a state value transfer and it doesn't necessarily interact with the evm the virtual machine but what interaction with uh the smart contract account uh involves uh interacting with code basically built on the network and uh it interacts with the evm uh controlling as a just like I said earlier controlling uh an eoa basically involves having control over the public and the private key but controlling the the control of the smart contract account is just basically code living on the network as a new into the blockchain with three space I had this um idea that um public key with the name public key is the same as address but during the learning I've been able to understand more that um publicy is not the same as address so um how is it how do I understand this so um first of all address is generated from the public key and then the public key is generated from the private key so how is this done like private key is a random number that are being generated so like um from between the range of one to two of our 256 say for instance like um a coin so you TOS that coin up to 256 times so you just pick the random number it doesn't um how to pick that number doesn't matter but um it shouldn't be um predictable or domistic so that's how a private key is being gotten so and as we know private Keys cannot be shared so from that private key got you can now generate your public key and we do that by using the elliptic c um algorithm to generate that and um public keys are generated by um multiplying the um uh the private Key by um the generator points which is um um on thetic of nons are number used on they were introduced to solve the issue of um double spending and and replay attacks now what are replay attacks replay attacks are um situations where you initiate a transaction and then the transaction is held by um an AER a malicious um user and then that transaction is re executed over and over until your balance is exhausted that's a replay um a replay attack now how does the nons work to stop this the nons is basically updated the non starts at zero it is updated for every transaction that is executed by an account so starting up with zero the first transaction that is executed comes in as one the other one comes in as two and then it is incremented based on the amount of transactions another thing in nons does is it orders it brings order to to um transaction processing basically and please do follow us on our social media handles and do like and share thank you [Music]