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Question 1 of 5
1. Question
There are two types of accounts in Ethereum state: Normal (or externally controlled accounts) and contracts.
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Question 2 of 5
2. Question
Transactions can be fired from both types of accounts, though contracts only fire transactions in response to other transactions that they have received.
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Question 3 of 5
3. Question
The most complex transactions are ether transfer transactions.
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Question 4 of 5
4. Question
Contracts can receive transfers just like externally controlled accounts, but they can also receive more complicated transactions that actually run (parts of) their code and update their state.
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Question 5 of 5
5. Question
Contracts live on the blockchain in an Ethereum-specific binary format – Ethereum Virtual Machine (=EVM) bytecode.
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