Tutorials:Ethereum Address vs Bitcoin Address

Quest: Ethereum Address vs Bitcoin Address

An Ethereum address is similar to a bank account number.

• The account can hold many digital assets and interact with smart contracts.
• Anyone with the address can view all information related to the account, including token holdings and, in some cases, the name of the account owner.

For example, here is an account from the centralized exchange Kraken:

Kraken 4 Ethereum Account

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In the Overview panel you can see: ETH BALANCE, ETH VALUE, and TOKEN HOLDINGS.

• In token holdings, click on the wallet icon to the right: View In Token Holdings.

• See that the address has more than 600 cryptos and over 80 NFT's

Task

• Copy the link of the txn indicated by the orange arrow. Right click to copy the link.

• Use this link to complete the quest.

Exercise

Ethereum Address:

• An Ethereum address is like a bank account number.
• People can see all token holdings associated with the account.

Bitcoin Address:

• A Bitcoin address behaves like an envelope containing various unspent transaction outputs (UTXOs).
• Bitcoin behaves like physical cash—anyone with the address can see the unspent transaction outputs associated with it.

Key Difference:

• Bitcoin was designed to function as electronic cash.
• Ethereum was designed as a virtual computer capable of executing complex operations and managing digital assets.