Ethereum account addresses and operation using NXT
As a community of cryptocurrency enthusiasts, we enthusiastically introduce Blockchain technology and NXT (N) world. In this article, we are considering how the Ethereum account addresses are created and why NXT will be carefully sent.
Ethereum account to create address
The account address of the Ethereum network is a unique identifier used to identify the user’s wallet. Each address has a certain length, usually between 42 and 54 characters that contain the domain name (eg Example.com). The first two or three characters are for the network, and the remaining characters are used as the recipient’s Ethereum account.
Here is an example of an Ethereum account:
`
0x1234567890abcdef
`
The following form:
- 0x shows that this is a hexagonal line.
- Letters reflect the first three characters for online purposes.
- “1”, “2” and “3” are used to specify the last nine characters.
Why is it worth sending events NXT?
When you send an event from your NXT account, you send it to a truly unknown recipient. This is because the sender’s account address is not publicly displayed in the block chain. In fact, the entire Ethereum network has no direct access to the user account information. It is a safety function to prevent any fraud and harmful action.
Here happens behind the scenes:
- When you create a NXT wallet, it creates a public address (also known as “seed sentence” or “mnemonic”).
- The recipient’s public address is based on their seed report, which is safely stored in their NXT wallet.
- If you want to send an event from your NXT account, you must use the recipient’s public address. However, since this address is unknown, you must “sign” an event with your personal key.
Why can’t you only use your public address?
There are several reasons why you can’t use your public NXT account address:
* Safety : Because you are not directly related to the user Ethereum account information, you will protect you from any fraud or identity theft attack.
* Consensus Mechanism : The Ethereum network depends on the mechanism (work certificate) to confirm events. Without direct access to the sender’s account information, the network cannot ensure that the event is lawful. By using your public address and signing an event with a private key, you will ensure that the event is valid.
* Private keys
: Your private key is safely stored in the NXT wallet and is used to sign events on behalf of the recipient.
Conclusion
In conclusion, Ethereum account addresses are based on the user’s seed report or monument, which is later linked to their public address. If you want to send an event from your NXT account, you need to “sign” the event using a private key to make sure the event is correct and safe. Understanding how the Ethereum account relates to work and why you need to be careful when sending NXT events, you can better navigate the cryptocurrency world and enjoy the advantages of this exciting technology.
By continuing to learn and grow as a community, be sure to use the best practice in NXT and other cryptocurrencies.
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