Understand the instructions of the Ethereum account and make transactions with NXT

As a growing community of cryptocurrency lovers, we are excited to present the world of blockchain technology and NXT (N). In this article, we will deepen how to generate the instructions of the Ethereum account and why sending transactions in NXT requires caution.

Generation ADVRACTION OF ACCOUNT ETTHEUM

In the Ethereum network, the account address is a unique identifier used to identify a user wallet. Each address has a specific length, usually between 42 and 54 characters, which includes the domain name (for example, “Example.com”). The first two or three characters are reserved for the network, while the remaining signs are used as an Ethereum account of the recipient.

Here’s an example of an Ethereum account address:

`

• 0xindicates that it is a hexadecimal chain.

• 1, 2and3` are used to indicate the last nine characters.

Why send transactions to NXT?

When he sends a transaction outside his NXT account, he actually sends her to an unknown recipient. This is because the address of the invoice sender is not publicly shown in the block chain. In fact, the entire Ethereum network does not have a direct access to the user account information. This is a security feature intended to prevent potential fraud and malicious activity.

That happens behind the scene:

• When you create a NXT wallet, it generates a public direction (also known as “seed” or “mnemonic”).

• The recipient’s public address is generated according to its seed phrase, which is safely stored in the NXT wallet.

• To send a transaction outside your NXT account, you must use the recipient’s public address. However, since this address is unknown at the time of shipping, it must “sign” the transaction using its own private key.

Why can’t you use your public address?

There are several reasons why you can’t easily use the NXT public account address:

* Safety : Not directly related to the user’s user’s account data, it protects the possible robbery of robbery or identity robbery.

* Consensus mechanism : Ethereum network is based on a consensus mechanism (test of work) to confirm transactions. Without a direct approach to the reference account data, the network cannot check that the transaction is legitimate. When using your public address and sign a transaction with your private key, it ensures that the transaction is valid.

* Private keys : His private key is safely stored in NXT wallet and is used to sign transactions on behalf of the recipient.

Conclusion

In short, the Ethereum account instructions are generated according to the user’s phrase or Mnemonica of the user, which is then associated with their public address. To send a NXT account transaction, you must “sign” the transaction using your private key, which guarantees that the transaction is valid and safe. Understanding the Ethereum mode and why sending transactions in NXT requires caution, you can better sail for the world of a crypto currency and enjoy the benefits of this exciting technology.

As we continue to learn and grow as a community, remember to be informed about the best practices for the responsible way of using NXT and other cryptocurrencies.

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