In my previous post, titled 'What is ETH ? (A short paragraph)', I had talked a little bit of the second most cryptocurrency in the world after Bitcoin (BTC), Ether or ETH or Ξ. I had talked that we can only transfer ETH, to its blockchain which is known as Ethereum. Ethereum which is an open-source blockchain, on which only Ether based transitions are done, provide its users to deploy many types of tokens in it, like NFTs, and also to build blockchain games on it. These tokens are permanent and are also immutable in nature. Ether was brought to the world in 2015 by a Canadian computer programmer named Vitalik Buterin, and since then Ether is used as a cryptocurrency in crypto world.
Now, in this post, I will talk about in detail of Ethereum address or its native cryptocurrency Ether (ETH) address.
I have already given you glimpse of differences in cryptocurrency addresses of ETH, BTC and BCH in small in my this post of my series of Crypto Marketplace - Full of Pirates and Hackers. What it is and how to trade in it ? , where I have in my total of 6 posts, alarmed you about different crypto scams happening in Web 3 internet and I had also told you about ways to protect your crypto against these scams.
In that post, I had told you to look for different cryptocurrency addresses before sending or receiving funds to anyone in Web 3 internet and also told you about a cryptocurrency ETH on an Ethereum blockchain, you will always see its address starting from 0x and it contains 40 hexadecimal characters followed after starting from 0x.
An example picture from an https://etherscan.io/, blockchain explorer for ETH below shows the examples of Ethereum ETH addresses. These all addresses below are real Ethereum addresses.
Now, in my previous post, I had told you that there are many wallets to store Ethereum based cryptocurrencies such as MetaMask, Coinbase, Trust Wallet, 1inch, etc... .
Now,
How does these wallets connect to Ethereum Network or Blockchain ?
When you create a new wallet of Web 3 internet, example MetaMask wallet, you will be asked to keep three things confidentially to yourself and never share those things to anyone, due to risk of losing your funds.
These things are :-
1- A Recovery Phrase.
2- A Private Key.
3- Wallet Password.
4- A Public Key.
Wallet Password are usually store locally, until you didn't connect with your social accounts, your wallet recovery phrase, private key and your public keys are usually synced in Blockchain Network. They usually connects each other with the network address and form a nodes.
These nodes then connect your wallet to blockchain network. This is the way how you send your money or receive money from another blockchain network wallet till now (I will talk later in my later posts why I had underlined this).
There are different nodes for different Blockchain networks.
Now talking about Ethereum Nodes, these are nodes which have the power to identify themselves in blockchain networks with some basic information to connect to peers for easily transfer of crypto assets.
This basic information contains many information like Block Hight, Size, Gas Used, etc ... . You can see below transaction for example.
To protect any data loss, or connection loss, Ethereum nodes uses its one of its following standard formats to understand the Block which is building when the transaction occurs :-
1- Multiadder format.
2- Enode format.
3- Ethereum Node Records (ENRs) format.
From above three, Ethereum Node Records (ENRs) format is a current standard by which transaction occurs in Ethereum Blockchain.
Now, let's talk in detail of above three formats,
1- Multiadder format :-
It is a universal node that is designed for end to end communications. In Multiadder, node addresses are represented as trees with roots like key and value pairs separated by forward slash. For an Ethereum node, multiadder contains the node id of the communication block, which is a hash of communication block public key and is represented as : -
/ip4/192.168.22.27/tcp/33000/p2p/5t7Nv7dG2d6ffbvAiewVsEwWweU3LdebSqX2y1bPrW8br
2- Enode format :-
Enode is a way to identify Ethereum node using a URL address format. It is represented as :-
enode://6f8a80d14311c39f35f516fa664deaaaa13e85b2f7493f37f6144d86991ec012937307647bd3b9a82abe2974e1407241d54947bbb39763a4cac9f77166ad92a0@10.3.58.6:30303?discport=30301
3- Ethereum Node Records (ENRs) :-
It is now a current standard by which transition occurs in Ethereum Blockchain. It is used to replace both upper nodes, Multiadder and Enode nodes. They had proven to work at much grater speed for the transitions and exchange of communications between nodes.
Reference : - https://ethereum.org/en/developers/docs/networking-layer/network-addresses/#multiaddr
This is for this post.
Thank you for reading.
Look at this my post, on How to setup Meta Mask Web 3 Wallet, if you haven't created till now, I have explained here in detail :-
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a) Crypto Marketplace - Full of Pirates and Hackers. What it is and how to trade in it ?
b) What is ETH ? (A short Paragraph)
