Externally owned account (EOA)

A signature authorizes transactions under protocol rules. Contract accounts define executable logic; delegated accounts can combine key authority and contract logic.

An EOA transaction is authorized through a signature and ordered using a nonce. A contract account executes code according to its rules and receives calls through transactions. An account balance is distinct from the key authorizing its use.

EIP-7702 allows an EOA to specify delegated code. Authorization can remain active between transactions and the key retains important powers. An account with smart-wallet features therefore does not necessarily stop being exposed to key compromise.