diff --git a/CHANGELOG.md b/CHANGELOG.md
index 5f948790..25b5dba8 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -39,6 +39,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ### Improvements
 
+* (types) [\#494](https://github.com/ChainSafe/ethermint/pull/494) Update `EthAccount` public key JSON type to `string`.
 * (app) [\#471](https://github.com/ChainSafe/ethermint/pull/471) Add `x/upgrade` module for managing software updates.
 * (`x/evm`) [\#458](https://github.com/ChainSafe/ethermint/pull/458) Define parameter for token denomination used for the EVM module.
 * (`x/evm`) [\#443](https://github.com/ChainSafe/ethermint/issues/443) Support custom Ethereum `ChainConfig` params.
diff --git a/crypto/secp256k1.go b/crypto/secp256k1.go
index c8ae6ad2..099e9197 100644
--- a/crypto/secp256k1.go
+++ b/crypto/secp256k1.go
@@ -33,7 +33,7 @@ func GenerateKey() (PrivKeySecp256k1, error) {
 // PubKey returns the ECDSA private key's public key.
 func (privkey PrivKeySecp256k1) PubKey() tmcrypto.PubKey {
 	ecdsaPKey := privkey.ToECDSA()
-	return PubKeySecp256k1(ethcrypto.FromECDSAPub(&ecdsaPKey.PublicKey))
+	return PubKeySecp256k1(ethcrypto.CompressPubkey(&ecdsaPKey.PublicKey))
 }
 
 // Bytes returns the raw ECDSA private key bytes.
@@ -58,8 +58,12 @@ func (privkey PrivKeySecp256k1) Equals(other tmcrypto.PrivKey) bool {
 }
 
 // ToECDSA returns the ECDSA private key as a reference to ecdsa.PrivateKey type.
+// The function will panic if the private key is invalid.
 func (privkey PrivKeySecp256k1) ToECDSA() *ecdsa.PrivateKey {
-	key, _ := ethcrypto.ToECDSA(privkey)
+	key, err := ethcrypto.ToECDSA(privkey)
+	if err != nil {
+		panic(err)
+	}
 	return key
 }
 
@@ -68,17 +72,23 @@ func (privkey PrivKeySecp256k1) ToECDSA() *ecdsa.PrivateKey {
 
 var _ tmcrypto.PubKey = (*PubKeySecp256k1)(nil)
 
-// PubKeySecp256k1 defines a type alias for an ecdsa.PublicKey that implements
-// Tendermint's PubKey interface.
+// PubKeySecp256k1 defines a type alias for an ecdsa.PublicKey that implements Tendermint's PubKey
+// interface. It represents the 33-byte compressed public key format.
 type PubKeySecp256k1 []byte
 
 // Address returns the address of the ECDSA public key.
+// The function will panic if the public key is invalid.
 func (key PubKeySecp256k1) Address() tmcrypto.Address {
-	pubk, _ := ethcrypto.UnmarshalPubkey(key)
+	pubk, err := ethcrypto.DecompressPubkey(key)
+	if err != nil {
+		panic(err)
+	}
+
 	return tmcrypto.Address(ethcrypto.PubkeyToAddress(*pubk).Bytes())
 }
 
 // Bytes returns the raw bytes of the ECDSA public key.
+// The function panics if the key cannot be marshaled to bytes.
 func (key PubKeySecp256k1) Bytes() []byte {
 	bz, err := CryptoCodec.MarshalBinaryBare(key)
 	if err != nil {
diff --git a/docs/basics/accounts.md b/docs/basics/accounts.md
index ed553ea2..ef21a762 100644
--- a/docs/basics/accounts.md
+++ b/docs/basics/accounts.md
@@ -43,7 +43,7 @@ Cosmos `sdk.AccAddress`.
 
 - Address (Bech32): `eth1crwhac03z2pcgu88jfnqnwu66xlthlz2rhljah`
 - Address (Hex): `0xc0dd7ee1f112838470e7926609bb9ad1bebbfc4a`
-- Public Key (Bech32): `ethpub1pfqnmk6pqnwwuw0h9hj58t2hyzwvqc3truhhp5tl5hfucezcfy2rs8470nkyzju2vmk645fzmw2wveaqcqek767kwa0es9rmxe9nmmjq84cpny3fvj6tpg`
+- Compressed Public Key (Bech32): `ethpub1pfqnmk6pqnwwuw0h9hj58t2hyzwvqc3truhhp5tl5hfucezcfy2rs8470nkyzju2vmk645fzmw2wveaqcqek767kwa0es9rmxe9nmmjq84cpny3fvj6tpg`
 
 ## Next {hide}
 
diff --git a/tests/rpc_test.go b/tests/rpc_test.go
index bf775b92..6bfc2d58 100644
--- a/tests/rpc_test.go
+++ b/tests/rpc_test.go
@@ -758,7 +758,7 @@ func TestEth_EstimateGas(t *testing.T) {
 	err := json.Unmarshal(rpcRes.Result, &gas)
 	require.NoError(t, err, string(rpcRes.Result))
 
-	require.Equal(t, "0x1051d", gas)
+	require.Equal(t, "0xfd40", gas)
 }
 
 func TestEth_EstimateGas_ContractDeployment(t *testing.T) {
diff --git a/types/account.go b/types/account.go
index 4f22eccd..8020ed1b 100644
--- a/types/account.go
+++ b/types/account.go
@@ -11,8 +11,6 @@ import (
 	"github.com/cosmos/cosmos-sdk/x/auth/exported"
 	authtypes "github.com/cosmos/cosmos-sdk/x/auth/types"
 
-	tmamino "github.com/tendermint/tendermint/crypto/encoding/amino"
-
 	ethcmn "github.com/ethereum/go-ethereum/common"
 	ethcrypto "github.com/ethereum/go-ethereum/crypto"
 )
@@ -79,7 +77,7 @@ func (acc *EthAccount) SetBalance(amt sdk.Int) {
 type ethermintAccountPretty struct {
 	Address       sdk.AccAddress `json:"address" yaml:"address"`
 	Coins         sdk.Coins      `json:"coins" yaml:"coins"`
-	PubKey        []byte         `json:"public_key" yaml:"public_key"`
+	PubKey        string         `json:"public_key" yaml:"public_key"`
 	AccountNumber uint64         `json:"account_number" yaml:"account_number"`
 	Sequence      uint64         `json:"sequence" yaml:"sequence"`
 	CodeHash      string         `json:"code_hash" yaml:"code_hash"`
@@ -95,8 +93,13 @@ func (acc EthAccount) MarshalYAML() (interface{}, error) {
 		CodeHash:      ethcmn.Bytes2Hex(acc.CodeHash),
 	}
 
+	var err error
+
 	if acc.PubKey != nil {
-		alias.PubKey = acc.PubKey.Bytes()
+		alias.PubKey, err = sdk.Bech32ifyPubKey(sdk.Bech32PubKeyTypeAccPub, acc.PubKey)
+		if err != nil {
+			return nil, err
+		}
 	}
 
 	bz, err := yaml.Marshal(alias)
@@ -117,8 +120,13 @@ func (acc EthAccount) MarshalJSON() ([]byte, error) {
 		CodeHash:      ethcmn.Bytes2Hex(acc.CodeHash),
 	}
 
+	var err error
+
 	if acc.PubKey != nil {
-		alias.PubKey = acc.PubKey.Bytes()
+		alias.PubKey, err = sdk.Bech32ifyPubKey(sdk.Bech32PubKeyTypeAccPub, acc.PubKey)
+		if err != nil {
+			return nil, err
+		}
 	}
 
 	return json.Marshal(alias)
@@ -126,26 +134,34 @@ func (acc EthAccount) MarshalJSON() ([]byte, error) {
 
 // UnmarshalJSON unmarshals raw JSON bytes into an EthAccount.
 func (acc *EthAccount) UnmarshalJSON(bz []byte) error {
-	acc.BaseAccount = &authtypes.BaseAccount{}
-	var alias ethermintAccountPretty
+	var (
+		alias ethermintAccountPretty
+		err   error
+	)
+
 	if err := json.Unmarshal(bz, &alias); err != nil {
 		return err
 	}
 
-	if alias.PubKey != nil {
-		pubKey, err := tmamino.PubKeyFromBytes(alias.PubKey)
+	acc.BaseAccount = &authtypes.BaseAccount{
+		Coins:         alias.Coins,
+		Address:       alias.Address,
+		AccountNumber: alias.AccountNumber,
+		Sequence:      alias.Sequence,
+	}
+	acc.CodeHash = ethcmn.Hex2Bytes(alias.CodeHash)
+
+	if alias.PubKey != "" {
+		acc.BaseAccount.PubKey, err = sdk.GetPubKeyFromBech32(sdk.Bech32PubKeyTypeAccPub, alias.PubKey)
 		if err != nil {
 			return err
 		}
-
-		acc.BaseAccount.PubKey = pubKey
 	}
-
-	acc.BaseAccount.Coins = alias.Coins
-	acc.BaseAccount.Address = alias.Address
-	acc.BaseAccount.AccountNumber = alias.AccountNumber
-	acc.BaseAccount.Sequence = alias.Sequence
-	acc.CodeHash = ethcmn.Hex2Bytes(alias.CodeHash)
-
 	return nil
 }
+
+// String implements the fmt.Stringer interface
+func (acc EthAccount) String() string {
+	out, _ := yaml.Marshal(acc)
+	return string(out)
+}
diff --git a/types/account_test.go b/types/account_test.go
index cb13b66e..98cad2bf 100644
--- a/types/account_test.go
+++ b/types/account_test.go
@@ -2,6 +2,7 @@ package types
 
 import (
 	"encoding/json"
+	"fmt"
 	"testing"
 
 	"github.com/stretchr/testify/require"
@@ -35,7 +36,7 @@ func TestEthermintAccountJSON(t *testing.T) {
 	require.Equal(t, string(bz1), string(bz))
 
 	var a EthAccount
-	require.NoError(t, json.Unmarshal(bz, &a))
+	require.NoError(t, a.UnmarshalJSON(bz))
 	require.Equal(t, ethAcc.String(), a.String())
 	require.Equal(t, ethAcc.PubKey, a.PubKey)
 }
@@ -58,3 +59,55 @@ func TestSecpPubKeyJSON(t *testing.T) {
 	require.NoError(t, err)
 	require.Equal(t, pubk, pubkey)
 }
+
+func TestEthermintAccount_String(t *testing.T) {
+	pubkey := secp256k1.GenPrivKey().PubKey()
+	addr := sdk.AccAddress(pubkey.Address())
+	balance := sdk.NewCoins(sdk.NewCoin(DenomDefault, sdk.OneInt()))
+	baseAcc := auth.NewBaseAccount(addr, balance, pubkey, 10, 50)
+	ethAcc := EthAccount{BaseAccount: baseAcc, CodeHash: []byte{1, 2}}
+
+	config := sdk.GetConfig()
+	SetBech32Prefixes(config)
+
+	bech32pubkey, err := sdk.Bech32ifyPubKey(sdk.Bech32PubKeyTypeAccPub, pubkey)
+	require.NoError(t, err)
+
+	accountStr := fmt.Sprintf(`|
+  address: %s
+  coins:
+  - denom: aphoton
+    amount: "1"
+  public_key: %s
+  account_number: 10
+  sequence: 50
+  code_hash: "0102"
+`, addr, bech32pubkey)
+
+	require.Equal(t, accountStr, ethAcc.String())
+
+	i, err := ethAcc.MarshalYAML()
+	require.NoError(t, err)
+
+	var ok bool
+	accountStr, ok = i.(string)
+	require.True(t, ok)
+	require.Contains(t, accountStr, addr.String())
+	require.Contains(t, accountStr, bech32pubkey)
+}
+
+func TestEthermintAccount_MarshalJSON(t *testing.T) {
+	pubkey := secp256k1.GenPrivKey().PubKey()
+	addr := sdk.AccAddress(pubkey.Address())
+	balance := sdk.NewCoins(sdk.NewCoin(DenomDefault, sdk.OneInt()))
+	baseAcc := auth.NewBaseAccount(addr, balance, pubkey, 10, 50)
+	ethAcc := &EthAccount{BaseAccount: baseAcc, CodeHash: []byte{1, 2}}
+
+	bz, err := ethAcc.MarshalJSON()
+	require.NoError(t, err)
+
+	res := new(EthAccount)
+	err = res.UnmarshalJSON(bz)
+	require.NoError(t, err)
+	require.Equal(t, ethAcc, res)
+}
diff --git a/types/config_test.go b/types/config_test.go
index 966b0bcf..0b985074 100644
--- a/types/config_test.go
+++ b/types/config_test.go
@@ -10,6 +10,8 @@ import (
 
 func TestSetBech32Prefixes(t *testing.T) {
 	config := sdk.GetConfig()
+	config = sdk.NewConfig() // reset config values
+
 	require.Equal(t, sdk.Bech32PrefixAccAddr, config.GetBech32AccountAddrPrefix())
 	require.Equal(t, sdk.Bech32PrefixAccPub, config.GetBech32AccountPubPrefix())
 	require.Equal(t, sdk.Bech32PrefixValAddr, config.GetBech32ValidatorAddrPrefix())
@@ -36,8 +38,10 @@ func TestSetBech32Prefixes(t *testing.T) {
 func TestSetCoinType(t *testing.T) {
 	config := sdk.GetConfig()
 	require.Equal(t, sdk.CoinType, int(config.GetCoinType()))
+	require.Equal(t, sdk.FullFundraiserPath, config.GetFullFundraiserPath())
 
 	SetBip44CoinType(config)
 	require.Equal(t, Bip44CoinType, int(config.GetCoinType()))
 	require.Equal(t, sdk.GetConfig().GetCoinType(), config.GetCoinType())
+	require.Equal(t, sdk.GetConfig().GetFullFundraiserPath(), config.GetFullFundraiserPath())
 }