Ethereum basics

Ether is subdivided into the smallest unit possible, called wei.
One ether is 1 * 10^18 or 1,000,000,000,000,000,000 wei

Ethereum is NOT the currency:
Ethereum is the system and ether is the currency of said system.

Metamask is overall the most recommended wallet for beginners.
Jaxx is another option where simplicity is key

Ether is much more than just a regular currency. It is meant to be mainly used for the execution of smart contracts

Extenally owned accounts (EOAs) and ContractsMetamask accounts are externally owned accounts. It is an account that has a private key - meaning there's access to private funds or contracts.The other type of account is a contract account. It does not have a private key and is controlled by the logic within the smart contract code.Contracts have addresses just like EOAs. They can send and receive ether. Furthermore, transactions can trigger different functionality within a smart contract.

Registering a smart contract usually means executing a special transaction with a destination of <b>0x0000000000000000000000000000000000000000</b>

This is called the zero address and it tells the Ethereum blockchain that a contract is being registered.

Last updated 2 years ago