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  1. Home
  2. /Glossary
  3. /Account Model
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blockchain

Account Model

The way Ethereum and many other chains track balances.

Definition

The way Ethereum and many other chains track balances. Each address has a single account with a running balance, similar to a bank account. When you receive ETH, your balance goes up. This contrasts with Bitcoin's UTXO model where you track individual unspent transaction outputs.

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Related Terms

Transaction

A transfer of value or data recorded on a blockchain.

Ethereum

A blockchain platform that enabled smart contracts and decentralized applications.

Wallet

Software or hardware that stores your cryptocurrency private keys and lets you send and receive tokens.

ABI

Application Binary Interface.

Account Abstraction

A way to make crypto wallets behave more like normal apps by turning every account into a smart contract.

Actively Validated Service (AVS)

A service or protocol that uses EigenLayer's restaked ETH for its security instead of bootstrapping its own validator set.

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