Blockchain Academy
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Address

The address value of an account that is 20 bytes long from an external owning account (EOA). These addresses can be created by anyone, and they also act as bank account numbers. Unlike a bank, in a decentralized Ethereum, the ownership of the Ether as much as the EOA's balance can be verified by private key, address, and electronic signature. These addresses are exposed on the blockchain, and the private key for signing transactions must not be public and must be owned by the user. The address is generated from the private key and goes through the following process.

  1. Generate random 256-bit numbers that are not predictable and deterministic through a secure random number generator. This random number is the private key.
  2. Compute the public key from the private key via the elliptic curve function. This function is a one-way function that can calculate the public key from the private key, but not its inverse.
  3. Apply the keccak256 hash to the computed public key.
  4. Truncate the last 20 bytes from the hashed public key value. This cutoff value will be used as the address.