Introduction

Blockchain technology has revolutionized the way we handle digital transactions. However, the most common type of blockchain accounts, known as Externally Owned Accounts (EOA), come with certain limitations. In this article, we will explore these limitations and their impact on users.

Externally Owned Accounts (EOA)

EOA accounts are the most prevalent type of blockchain accounts. Unfortunately, if a user loses their private key, their crypto holdings are lost forever. This lack of recovery options can be a significant concern for users who value security and want to protect their digital assets.

Limitations of EOA Accounts

EOA accounts have a couple of notable limitations:

• Cannot attach information readable by other smart contracts
• Transaction fees cannot be paid by other parties

Lack of Information Attachment

One major drawback of EOA accounts is their inability to attach information that can be read by other smart contracts. This limitation restricts the functionality and potential use cases of blockchain technology. Users are unable to fully leverage the benefits of smart contracts due to this limitation.

Transaction Fee Responsibility

Another limitation of EOA accounts is that transaction fees cannot be paid by other parties. In traditional financial systems, it is common for transaction fees to be covered by the sender or recipient. However, on an EOA account, the user is solely responsible for providing the necessary fees for gas. This can be inconvenient and burdensome for users, especially during periods of high transaction volume.

Conclusion

While blockchain technology offers numerous advantages, it is important to be aware of the limitations of Externally Owned Accounts (EOA). The lack of recovery options and the burden of transaction fees can pose challenges for users. As the technology continues to evolve, it is likely that solutions will be developed to address these limitations and enhance the user experience.