Confusions often arise as to the difference between a wallet address and a contract address mostly because they look similar. However, before we explain how you can differentiate between both addresses, let's take a look at what they mean below.
A contract address is a unique identifier for a smart contract deployed on a blockchain. Smart contracts are self-executing agreements that follow predefined rules and automatically enforce actions when specific conditions are met.
What is a wallet address?
A wallet address is a string of letters and numbers from which cryptocurrencies or NFTs can be sent to and from.
A super easy way to distinguish between a contract address and a wallet address is by calling the [eth_getCode](https://docs.alchemy.com/reference/eth-getcode) method, which will return a contract code if it's a contract and nothing if it's a wallet. Here's an example of both using our composer tool:
FAQs
The concept of an address is basically the same for wallets or contracts, the use case for an address is what can be different. While a contract address will have an “extra feature” to execute specific instructions (code) in it. For example, the ChainLink Token (LINK) its an ERC20 smart contract.
How do you determine whether an address is a contract address? ›
Using code size of the address
Another way you can determine whether a given address is a contract or an externally-owned account (EOA) by checking the code size of the address. If an address is a contract, its code size will be greater than zero, as contracts have bytecode associated with them, whereas EOAs do not.
What does a wallet address look like? ›
Your wallet address is the unique identity of your wallet that's used to send and receive cryptocurrency. Each currency has its own logic, but generally, they look something like this: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa (that's the world's first Bitcoin address, if you were wondering).
What happens if I send crypto to a contract address? ›
If you've sent crypto to a contract address, the ability to recover those funds largely depends on the contract's design and the willingness of the contract owner to assist in the recovery process.
What is the contract address in a crypto wallet? ›
A contract address is a unique identifier for a smart contract deployed on a blockchain. Smart contracts are self-executing agreements that follow predefined rules and automatically enforce actions when specific conditions are met.
How to differentiate contract address and wallet address? ›
The concept of an address is basically the same for wallets or contracts, the use case for an address is what can be different. While a contract address will have an “extra feature” to execute specific instructions (code) in it. For example, the ChainLink Token (LINK) its an ERC20 smart contract.
What determines contract address? ›
The contract address is determined based on the person's address creating the contract (sender) and the number of transactions the creator has sent (nonce).
How can I verify a wallet address? ›
Search for a blockchain explorer that corresponds with the cryptocurrency you're using. For example, if you're using Bitcoin, use a BTC explorer. Input the wallet address you want to verify into the search bar. Check the transaction history of that wallet address to see if it matches up with your own records.
What is the difference between address and wallet? ›
You can think of a wallet as a sort of encrypted virtual keychain, containing all the information needed to access your funds on the Bitcoin blockchain. A wallet combines and contains both your address(es) as well as your digital key(s). The simplest form of a wallet is a file containing a database.
Can I trace a wallet address? ›
Tools such as blockchain explorers and professional cryptocurrency tracking platforms are available for analyzing transactions. These tools provide insights into the transaction history, wallet addresses involved, and sometimes the flow of funds.
Verify Contract Address Ownership process involves verifying the ownership of a smart contract address with the Ethereum address used to create the smart contract and then linking the contract address to the owner's Etherscan account.
What is considered a valid address? ›
An address must be complete in order to be valid. This means that it must have a street, city, state and ZIP code. Whenever possible, addresses that are incomplete have the missing information added. If a valid ZIP code is provided but the city and state are missing, the city and state names are added.
Do contract addresses have private keys? ›
Contract Account: A contract account is controlled by logic programmed into the code. It has no associated private key and cannot initiate transactions, but it can execute operations (eg. calling another contract or transferring funds) after receiving transactions from an EOA.
Does a wrong address void a contract? ›
Long answer short - no, you can't void the contract under these circ*mstances. Explanation - in order to void a contract, a material term must have been incorrect and or breached. Material terms constitute the crux of the agreement - what, when, how much.
