Addresses in blockchain networks ๐Ÿ”ค

Addresses in blockchain networks ๐Ÿ”ค

An Address is a string of text that defines the source or destination for each transaction in the blockchain network. Each blockchain has its own wallet addresses, which are created cryptographically (generated).

At first glance, this text line looks like a random set of characters, but for the network it is a certain set of characters by which it identifies the users and the apps they use.

Usually it’s easy to figure out which blockchain it belongs to. For example, addresses on the Everscale network start with 0:. Ethereum addresses start with 0x.

How to transfer the address?

• The address can be send to another person, but it is worth considering that the blockchain is transparent, and knowing the address, you can track any transactions on it.

• Sending the address, it’s not recommended to manually enter it because of the risk of making a mistake, it is better to copy and paste the text.

• For simplified access to information, the address can be stored and transmitted as a QR code.

• Also, in some blockchains, including Everscale, it has become possible to use a domain name linked to an address.

One wallet — many addresses

Simply put, an address is a place to store your assets, and a wallet is a tool for accessing each of them.

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