Blockchain Developer Certification Practice

What is a key property of a smart contract account?

1. Transaction fee structure

2. Balance of ether

3. Creation date

4. Ownership type

The correct answer is: Balance of ether

The key property of a smart contract account is the balance of ether. This balance is crucial because it determines the available funds that a smart contract can use to execute its functions and process transactions. When a smart contract is deployed on the blockchain, it has its own unique address, which allows it to hold and manage its balance of ether independently. The balance can be affected by various operations, such as receiving ether from other accounts or spending ether to execute functions that require transaction fees, which are paid to miners for executing the contract on the network. Thus, understanding the balance of ether within a smart contract account is essential for ensuring that the contract can operate effectively and maintain the necessary funds for its operations.