What Are EOAs and How to Create Ethereum Wallets Using C#?

Introduction

Welcome to my article on building Ethereum Externally Owned Accounts (EOAs) with C#. In this article, I'll go over the concept of EOAs, why they're important in Ethereum development, and lead you through the step-by-step process of constructing them with C# and the Nethereum library. We'll provide clear code examples and explanations to guide you from beginning to end so that even beginners can follow along and learn something new.

By the end of this article, you will have a solid understanding of not only how to build EOAs in C#, but also how to import them into MetaMask, allowing you to manage your Ethereum accounts easily and securely.

Types of Ethereum Accounts

In the Ethereum ecosystem, there are two main types of accounts: Externally Owned Accounts (EOAs) and Contract Accounts.

EOAs are the most common type of Ethereum account, and they are managed via private keys. Every EOA has a unique Ethereum address and private key. Individuals or corporations own and control EOAs, which are used to conduct transactions and interact with smart contracts. EOAs include user-created accounts on wallet programs like MetaMask and MyEtherWallet.

Whereas contract accounts are accounts that are managed by smart contracts rather than private keys. They are formed when a smart contract is implemented on the Ethereum blockchain. Contract accounts have their own address and can store Ether while performing predetermined functions when triggered by transactions or messages. Contract accounts, unlike EOAs, do not have private keys and are instead managed by the smart contract's code.

Understanding the distinction between these two account types is essential for navigating the Ethereum ecosystem. Now that we've covered the various sorts of Ethereum accounts let's look further into Externally Owned Accounts (EOAs) and how they're established and managed on the Ethereum blockchain.

Understanding Ethereum Externally Owned Account (EOA)

In the Ethereum blockchain, an Externally Owned Account, or EOA for short, is similar to your own bank account. It is the most basic type of account, owned and controlled by a person or entity. Every EOA is assigned a unique Ethereum address that acts as its blockchain identification.

Consider your Ethereum address as your account number, and your private key as your password. People can use your Ethereum address to send you Ether (Ethereum's native coin) or any other Ethereum-based cryptocurrency.

On the other hand, your private key is like your account's password which allows you to access and control your account, so it's crucial to keep it safe and secure.

(An EOA Address available on Ethereum Block Explorer)

Safely creating an EOA is critical in the blockchain world. As your Ethereum address and private key serve as your gateway to your funds and assets on the blockchain, any security breach might result in financial loss. That is why it is critical to produce your private key in a secure environment and keep it safe.

Furthermore, having a dependable account recovery option is critical in case you lose access to your account. Whether it's a forgotten password or a hardware failure, being able to retrieve your account means that you don't lose access to your cash indefinitely.

Creating an EOA Account

With our basics cleared about EOA, now let's start with the development process. We will now look at how we can create our own Externally Owned Ethereum Accounts. In this tutorial, I will be using C# as the programming technology where we can obtain our objective using the Nethereum Nuget package, but you can also choose any other programming language like Javascript or Python which have libraries like ethers.js or web3.py.

Before diving into the development process, let's ensure that we have everything we need.

Requirements/Prerequisites

Before we begin creating our EOA account, let's ensure we have the necessary tools and configurations in place -

Integrated Development Environment (IDE): Set up your preferred IDE for C# development. Whether you're using Visual Studio, Visual Studio Code, or another IDE, make sure it's configured for C# development. In this tutorial, I will be using Visual Studio

With these requirements fulfilled, we're ready to proceed with creating our EOA account using C# and Nethereum. Let's dive into the development process.

Creating an Ethereum Account programmatically

Now that we have our environment configured, let's move on to the process of creating an EOA account programmatically.

Step 1. Open up your IDLE and create a new project

Open up your IDLE and create a new Console project on the dotnet framework. Click on the Next button

After that, name your project and create it by clicking on the Create button.

Step 2. Install Nethereum NuGet Packages

You need to install the Nethereum NuGet package. To install the Nethereum package via NuGet on Visual Studio, follow these steps:

• Right-click on your project and select "Manage NuGet Packages"
• In the NuGet Package Manager, search for "Nethereum" and install the latest version.
• Alternatively, you can install Nethereum via the Package Manager Console using the command: 'Install-Package Nethereum'

Step 3. Write a function for creating an EOA

using System;
using System.Threading.Tasks;
using NBitcoin;
using Nethereum.HdWallet;

namespace EOA_Account_Creation_Demonstration
{
    internal class Program
    {
        static async Task Main(string[] args)
        {
            await CreateEOA_Account();
        }
        /// <summary>
        /// This method creates a new Ethereum EOA and prints the passphrase, private key and account address needed for the wallet.  
        /// </summary>
        /// <returns></returns>
        static async Task CreateEOA_Account()
        {
            try
            {
                Mnemonic mnemonic = new Mnemonic(Wordlist.English, WordCount.Twelve);
                Wallet wallet = new Wallet(mnemonic.ToString(), "");
                Nethereum.Web3.Accounts.Account account = wallet.GetAccount(0);

                Console.WriteLine(" *************  New Account Created   ***************");
                Console.WriteLine(" Passphrase      ------------------> " + mnemonic.ToString());
                Console.WriteLine(" Account Address ------------------> " + account.Address.ToString());
                Console.WriteLine(" Private Key     ------------------> " + account.PrivateKey.ToString());

                Console.ReadLine();
            }
            catch (Exception ex)
            {
                Console.WriteLine(ex.Message.ToString());
                Console.ReadLine();
            }
        }
    }
}

Here, we are using the pe-defined functions of Nethereum and NBitcoin to generate a mnemonic/seed phrase/passphrase which is a list of 12 words and using those 12 words we are determining the address and private key for an account. This way we can create an EOA. Here I am creating a 12 words passphrase but you are free to create 15, 18, 21 and 24-word passphrases for higher security.

Output

You are free to check this account and passphrase on any wallet by importing it. If your account gets successfully imported then it can be considered as a correct wallet address.

You can also check the same address on any block explorer after getting some funds.

To check the wallet created above I will be sending some sepholia testnet faucets on the account and then check it on block explorar.

With this now you are well equipped to create an EOA Wallet and use that to transfer funds.

But functionality-wise, what every wallet provides are two functions, the first is to create an EOA account and the second is to recover that account. With the above code you can create any EOA account as per your requirement, now let's learn how we can recover the wallet that we just created through code using the passphrase created earlier.

Step 4. Write a function for recovering an EOA

        /// <summary>
        /// This method recovers a Ethereum EOA and prints the passphrase, private key and account address needed for the wallet.
        /// </summary>
        /// <returns></returns>
        static async Task RecoverEOA_Account()
        {
            try
            {
                Console.WriteLine("Enter your passphrase");
                string passphrase = Console.ReadLine();
                Wallet wallet = new Wallet(passphrase,"");
                Nethereum.Web3.Accounts.Account account = wallet.GetAccount(0);

                Console.WriteLine("\n\n *************  Account Recovered ***************\n");
                Console.WriteLine(" Passphrase      ------------------> " + passphrase);
                Console.WriteLine(" Account Address ------------------> " + account.Address.ToString());
                Console.WriteLine(" Private Key     ------------------> " + account.PrivateKey.ToString());

                Console.ReadLine();
            }
            catch (Exception ex)
            {
                Console.WriteLine(ex.Message.ToString());
                Console.ReadLine();
            }
        }

Here, we are taking the passphrase from the user. The words in the passphrase should be separated by space. After that, we generate the account address and private key from the phrase and lastly display them.

Call the RecoverEOA_Account function in the main function to check the correct working of the function.

Output

Remember to keep your wallet's passphrase secure and hidden as if anyone has your account's passphrase then they will have complete access to your account.

Summary

This article teaches how to create Ethereum Externally Owned Accounts (EOAs) using C# and Nethereum. It explains EOAs and their importance and guides readers through setting up their development environment. With simple code examples, it demonstrates creating EOAs programmatically and emphasizes the importance of security. By following this guide, readers can confidently manage their Ethereum accounts and transactions.

FAQs

Q 1. How do I ensure the security of my Ethereum Externally Owned Account (EOA)?

A. To ensure the security of your EOA, it's crucial to follow best practices for managing your private key. Store your private key securely, preferably offline, and never share it with anyone. Additionally, consider using hardware wallets for added security. Regularly backup your private key and passphrase, and beware of phishing attempts or malicious software that may compromise your account.

Q 2. Can I recover access to my Ethereum EOA if I forget my passphrase?

A. Yes, you can recover access to your EOA if you forget your passphrase by using the mnemonic passphrase (seed phrase) generated during the account creation process. Keep your mnemonic passphrase safe and ensure you have backups stored securely. If you lose access to your EOA, you can input the mnemonic passphrase into compatible wallet software to regain access to your account.

Q 3. Are there any risks associated with programmatically creating Ethereum EOAs?

A. While programmatically creating EOAs using libraries like Nethereum can be convenient, there are potential risks to consider. Ensure you're using trusted libraries and follow security best practices during development. Additionally, be cautious when handling sensitive information such as private keys and mnemonic passphrases. Regularly audit your code for vulnerabilities and keep your development environment secure to mitigate potential risks.