A comprehensive guide to understanding and using address and payable address types in Solidity.
payable
keyword is a language-level feature provided by Solidity to enable the handling of Ether within smart contracts, and it is not a feature of the Ethereum Virtual Machine itself, but rather a part of the Solidity language’s syntax. They are used when you want a contract to be able to receive Ether from external sources, such as other contracts or user accounts.
Payable addresses are often used when creating crowdfunding or token sale contracts, where users send Ether to the contract’s address in exchange for tokens or to fund a project.
Here’s an example of declaring a payable address variable in Solidity: