diff --git a/pages/advanced/smart-account-overview.mdx b/pages/advanced/smart-account-overview.mdx index 5ca0a2fd..13dcabb7 100644 --- a/pages/advanced/smart-account-overview.mdx +++ b/pages/advanced/smart-account-overview.mdx @@ -5,9 +5,9 @@ import CustomCard from '../../components/CustomCard' ## EOAs -EOAs for short are Ethereum accounts that use traditional key pairs. That is, they consist of a single private key that can be used to make transactions and sign messages. If you gain access to that private key, you gain full control of the account. This means that your private key is a single point of failure that stands between you and your funds being lost. +[EOAs](https://docs.safe.global/home/glossary#externally-owned-account) for short are Ethereum accounts that use traditional key pairs. That is, they consist of a single private key that can be used to make transactions and sign messages. If you gain access to that private key, you gain full control of the account. This means that your private key is a single point of failure that stands between you and your funds being lost. -## Contract accounts +## Smart accounts The other type of Ethereum accounts are smart contract accounts. Like EOAs, smart contract accounts each have a unique public Ethereum address, and it is impossible to tell them apart from EOAs by looking at an Ethereum address. Smart contract accounts too can receive funds and make transactions like EOAs. Generally, the key difference is that no single private key is used to verify transactions. Instead, the logic behind how the account completes transactions is defined in the smart contract code. Smart contracts are programs that run on the Ethereum blockchain and execute when specific conditions are met. Their functionality within contract accounts means that such accounts, in contrast to EOAs, can, for example, implement access rights that specify by whom, how, and under which conditions transactions can be executed, as well as more complex logic.