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Smart contract wallet
A smart contract wallet is an account run by a program on the blockchain instead of by a single private key. Its code sets the rules, such as needing several approvals, daily spending limits, or replacing a lost key through backup keys.
What it means for you. Recovery and limits depend on the contract's code, so a bug can put funds at risk, and the account may exist only on chains where that contract is deployed. Before sending to it from another chain, check that the same address is set up there.
Sources: ethereum.org: Account abstraction, ethereum.org: Ethereum accounts · checked 4 October 2026
EOA
An EOA (externally owned account) is the ordinary kind of Ethereum account, controlled by whoever holds its private key. It costs nothing to create, has no code of its own by default, and is the only kind of account that can start a transaction.
What it means for you. Everything in an EOA rests on one key or seed phrase: lose it and nothing can recover the funds, leak it and anyone can drain them. The account itself has no reset, freeze or second factor; any such protection has to come from a smart contract account or from how the key is stored.
Sources: ethereum.org: Ethereum accounts, ethereum.org: Account abstraction, EIP-7702: Set code for EOAs · checked 4 October 2026