I'm fairly new to Ethereum and Smart Contracts. After i publish a Smart Contract on the Chain, on what ways or how will it be executed? Who can call my Smart Contract? And under what conditions? I'm currently a bit confused about the lifecycle of a smart contract. Would be awesome if you could provide me some Information or Ressource for that.
Thank You
There are two kinds of accounts, Externally Owned Accounts (EOA) and contacts.
Both types have an address. An EOA has a private key for signing transactions. A contract has no private key and cannot sign a transaction. It has code that tells it what is must do and a storage namespace where it can store state data.
All transactions are kicked off by someone or something signing a transaction. That transaction may be addressed to a contract. In that case, it will usually contain additional data to indicate the function to invoke and arguments to pass in.
When such a transaction is mined, the code in the contract function is executed by each node to evaluate how that transaction updates the contract's internal state.
Hope it helps.
