Accounts on a blockchain are characterized by a unique address, a balance in the native token and a nonce. The unique address is the same as the public key associated with the private key used to generate and access the account. It is often referred to as a “wallet”, because it has an associated token balance, which means it “has money” in it.

Nonce comes from “number once” and starts at 0. Every time a transaction is initiated from an account, this nonce is increased by 1.

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