Definition
An externally owned account (EOA) is controlled through cryptographic signatures associated with a private key. It has an address, an ETH balance and a transaction nonce. A wallet can manage the key and present an interface for authorizing transfers or interacting with applications.
How It Works
The account’s authorized signatures allow transactions to be submitted under Ethereum’s rules. It can receive assets and call contracts. Modern account features complicate the older distinction that EOAs always lack code: EIP-7702 enables an EOA to authorize delegation to contract code while retaining its key-based account identity. Available wallet functions depend on the supported implementation.
Key Considerations
Anyone with the relevant private key can generally authorize powerful account actions. A signature is therefore not necessarily a harmless login confirmation. Code delegation introduces additional dependencies on the authorized implementation, and careless authorization can expose assets. An EOA should not be confused with the wallet application displaying it, an exchange’s internal customer account or a guarantee that its controller is a particular person.