1

I've Googled this, but none helped.

I have a wallet, in there I've got a receiving address by which I can receive cryptocurrency from others.

But could this address also be called contract address? I know a little bit smart contract, and some ICO projects also use contract addresses to receiving funding coins, but are they basically same thing?

Thanks in advance.

3

I have a wallet, in there I've got a receiving address... could this address also be called contract address?

No - they're different things. They do have a few things in common, but ultimately they differ in some significant ways.

A Contract is code that has been deployed to the Ethereum blockchain. It lives at a fixed address, but you don't have a corresponding Private Key that is paired with the address - however, you can call functions on the contract and restrict who can interact with the contract etc. The code could have be written to serve many purposes - it may even be a 'wallet contract' that can hold Ether or tokens on your behalf, but it is not always the case that this contract will accept Ether or tokens e.g. if the contract has no payable function. Can be 'destroyed' i.e. have the code deleted to de-activate them.

Your Ethereum address, on the other hand, is related to a Public Key, which you have a Private key for. As long as you are the only one that knows the Private Key, you are the only one that can perform any actions from the address. It can always receive Ether or tokens - even if you don't want to. Can't be 'destroyed', but losing the Private Key for the address is conceptually similar.

They are similar in many ways - both can

  • Create new contracts
  • Send Ether to another address
  • Interact with smart contracts
  • Hold tokens
  • ...

are they basically same thing?

They have a lot in common, but fundamentally they are not the same thing.

A multi-sig wallet could be a safer address to store your tokens and Ether, but it also comes with some pitfalls too.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.