An External Owned Account (EOA) in cryptocurrency refers to an account that is controlled by a person or entity outside of a smart contract on the blockchain.
In simpler terms, an EOA is like a regular bank account where the owner has control over the funds and can make transactions freely.
EOAs are different from contract accounts, which are controlled by smart contracts and have automated functionalities.
In the cryptocurrency space, EOAs are used for various purposes, such as sending and receiving funds, participating in token sales, and interacting with decentralized applications.
EOAs are accessed using private keys, which are used to sign transactions and prove ownership of the account.
Overall, EOAs play a crucial role in enabling users to engage with the blockchain and participate in the decentralized ecosystem.
