The account type that is externally owned has no associated code or data

storage, whereas a contract account has both. The transactions are created

and cryptographically signed with private key control, an account that is

externally owned. External to and independent of the protocol used, for

contract accounts, a predetermined way is prescribed by the smart contract’s

code as they have no private keys and control themselves.

The Ethereum address provides identity to both of these accounts.

Wallet and its types

A wallet is built on the Ethereum blockchain, which is the gateway to

dApps allowing you to write, deploy, and use smart contracts and enabling

you to hold and secure Ether and other crypto-assets, and Mist is a browser,

the U I for Ethereum.

The wallet types are as follows:

Web-based offers progressive Web apps or, for the Web Chrome

Extensions, some variant of browser integration.

Desktop: The desktop apps installed on a computer are considered to be

safer than Web-based wallets, but for transactions to go through, you still

need to be online. Inadvertently, you are going to a phishing site is

prevented by a desktop app; the purpose can be served by a PWA from a

Web wallet. The desktop apps are not updated as frequently as Web apps

and mobile apps, which can set them behind in terms of security.

Hardware: U sed in combination with a Web interface, keeping the private

keys from being exposed on the Internet without any need for an offline

computer is provided by the hardware wallet is the highest standard of

security in crypto.

Mobile: These wallet apps vary in level of security and amount of control

over your funds depending on the design and philosophy used: custodial or

non-custodial. The world has moved to mobile as the default way to use the

services of the Internet, and mobile app security has advantages over

desktop and Web wallets.