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ABCs of EOS
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A glossary of terms that every EOS user should know.

Let's make blockchain lingo easier to learn and understand.

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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
A
Every transaction in a block is made up of one or more actions. Each action is an instruction to perform a given task. A transaction can be built up of multiple actions that are linked together.
A
Within the permissions structure of an account, active is by default the primary child permission of owner. The active permission can perform all actions of an account other than restructuring the permission structure. It is one of the two default permissions that come with a new account, owner and active.
A
Airgrab is a mechanism that was birthed as a solution to the cost of running an airdrop. The main difference is that an airgrab will require each user to claim their tokens, thus utilizing their own RAM to store the associated information, rather than the token's developer. This idea was borne out of the high cost of RAM that was seen when the EOS mainnet first launched.
B
A blacklist is a subjective measure that a blockchain node can put into effect to block itself from putting into a block any transactions that were authorized by a defined list of blocked authors (accounts), or any transactions that interact with a defined list of contracts. Each node can specify their own blacklist, and these are not publicly viewable. If a node has blacklisted an author/contract, it will still accept the transaction as valid if another Block Producer places the transaction into a block. To ensure that an account or contract is fully blocked, all Block Producers will need to have the blocked account/contract on their blacklist at all times. Whitelist takes precedence over blacklist. Watch our video explanation.
B
On the EOS network, blocks are created every 0.5 seconds by Block Producers. Blocks consist of transactions. Once a block is deemed irreversible, it means that it has been verified and signed by at least 15 Block Producers, and can now be fully trusted.
B
A Block Explorer is a tool for exploring the contents of a blockchain through a Graphical User Interface. See eosq.app for an example.
B
Block height is the block number of a given block in a blockchain. A block height of 1000 refers to the 1000th block of that chain. 
B
The Block Producer Agreement is one of the supporting documents of the Constitution. It outlines the rules and guidelines that a Block Producer Candidate must adhere to. It exists as a Ricardian Contract on-chain that is signed when a Candidate calls the `regproducer` contract. The two names - Block Producer Agreement and regproducer - are used interchangeably. It can be read here.
B
Of the 5% inflation on EOS, 1% goes towards Block Producer rewards. Of that 1%, 25% is paid on a per-block-created basis. Also known as Bpay.
B

In blockchain, to burn a token is to make it unusable.  This is typically done by sending the token to an account with a nulled key (cryptographically inaccessible). However, since EOSIO allows 15 of 21 Block Producers to access tokens on an account that has nulled keys, it is best to burn tokens by using the retire function to remove the tokens from circulation completely. Further, since inflation is based upon the total supply, tokens burned by sending to a nulled account, but not those burned with the retire action, will still be included in the circulating supply.

C
Within the permissions structure of an account, owner is the top-level authority, with all other permissions being nested underneath it. Any permission nested under a permission heading is known as a child. By default, an EOS account will come with the active permission as a child to the owner permission.
C C
Chintai is a decentralized resource exchange created by a Block Producer (EOS42), with the help of a group of sponsors made up of other Block Producers from the EOS mainnet community. Chintai allows a user to rent our their resources to a borrower for an agreed upon interest rate.
D
A deferred transaction is called within another transaction, but will not execute within that original transaction. It is similar to an inline action, the only difference being when the action occurs.
D
A transaction which has the delay flag active. Delays are defined in seconds.
D
dfuse is a developer-first solution built to support any developer working on an EOSIO blockchain. dfuse offers them the most powerful read and write access to on-chain data, with REST, WebSocket, and GraphQL (both Query and Subscription) endpoints. dfuse provides both developers and users the ability to easily parse through the entire blockchain in speeds never before seen, plucking *just* the information they need.
E
A standard by which enhancements can be proposed and worked on as a community for creating new standards for EOSIO.
E
The EOS Alliance is a non-profit entity which has self-formed to help spur community dialogue around important topics for EOS members. It holds no power over EOS and exists only to serve the community.
E

A popular Integrated Development Environment (IDE) built by Obsidian Labs. EOS Studio is a powerful and easy-to-use environment for dapp development, available for free to any developer looking to work on an EOSIO blockchain.

E

This agreement replaced the interim Constitution. It is a set of rules and guidelines which EOS users should adhere to. It was originally proposed by EOS New York and then passed through many iterations with help from the global EOS community.

F
Fiat money refers to any currency lacking intrinsic value that is declared legal tender by a government.
F
See: referendum. eosio.forum is a smart contract built by EOS Canada that allows users to post a message to the chain. While this can have many uses, it will be integral to the referendum system of the EOS mainnet.
F
Within REX, all calculations are based on a time of 00:00 UTC on the following day. So if a user purchases REX tokens at 16:00 UTC today, they will only become available to sell back into EOS (considered matured) four days and eight hours from that time. So whenever people say “four days”, it’s actually four days from the next 00:00 UTC.
G
The very first block of a blockchain. A forked chain will share the same history as its master-branch, whereas a new platform will have a unique genesis block. The genesis block of the EOS mainnet included this memo: "Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has - eosacknowledgments.io"
G
GitHub is a platform for sharing code amongst developers, commonly used for creating open source projects such as EOSIO.
G

A popular coding language developed by Google. Developers who wish to develop using this language can use a full-fledged library for EOSIO in Go developed by EOS Canada, called `eos-go`.

G

Greylisting an account means that this account will only have access to the amount of resources for which it has delegated. When the blockchain is under-utilized, users and dapps may utilize a portion of the unused bandwidth of the chain. However, a greylisted account will always be limited to their objective limits.

H
A popular event in which many developers get together and try to work on projects related to a technology or theme in competition with each other. Block.one is hosting multiple Hackathons across the globe to help promote the EOSIO software, and develop solutions and dApps on top of it.
H

When there are any changes made to the consensus mechanism on the blockchain, there needs to be a hard fork to demarcate this change in the software that is run by both validating and non-validating nodes. Any node that does not upgrade their software will no longer be able to accept blocks from the new part of the chain.

H

Hashing is the process of transforming a string into a fixed-length value or key that represents the original string. A string of data will always produce the same hash, so it is used as a means of verifying the contents of the string against the expected content. There are many different hashing algorithms. 

H

The most recent block created. It is also known as the tip of the chain.

H
A section that is included in every block on the blockchain. It contains information such as timestamp, current Block Producer schedule, Last Irreversible Block, previous block number, current block number...
I
A yet-to-be-developed tool by which multiple blockchains can communicate with one another. This could be used to send tokens from one chain to another, or to expand the capacity of a network by increasing the number of chains that are running in parallel. You will commonly see it referred to as IBC.
I

An acronym for Initial Coin Offering. A popular method for distributing the initial supply of coins/tokens by selling them in exchange for fiat currency or other cryptocurrencies. Block.one held the longest and highest grossing ICO ever, lasting 350 days and bringing in over $4 Billion USD.

I
A media organization based in China that was begun to help spread information to the Chinese-speaking community about EOS during the run-up to the launch of the mainnet.
I

A term used to signify that something cannot be changed. The history of a blockchain is incorporated in every subsequent block, and as such is considered immutable.

I

The mechanism through which new tokens are created on the EOS mainnet. 20% of these are used to pay Block Producers and Standby Producers, with the remainder going into the eosio.saving account. Currently, inflation is set at 5%.

I
Inline actions are actions that are created within a smart contract. A single action that a user authorizes can then create many subsequent actions that will execute within a single transaction, or create deferred transactions as well.
I
An acronym for InterPlanetary File System. It is a distributed storage mechanism for placing files online for decentralized storage. It is in some aspects similar to BitTorrent. One goal of Block.one is to integrate IPFS into EOSIO blockchains to allow for a fully decentralized blockchain solution to file storage.
J
Jungle is the name of one of the two main EOS testnets currently running. It's chain ID is:038f4b0fc8ff18a4f0842a8f0564611f6e96e8535901dd45e43ac8691a1c4dca. More information about it can be found at the Jungle GitHub page or visit a Jungle Block Explorer.
K
A Korean-based media source to provide the Korean-speaking community with up-to-date information around EOS.
K
CryptoKylin is the name of one of the two main EOS testnets currently running. It's chain ID is: 5fff1dae8dc8e2fc4d5b23b2c7665c97f9e9d8edf2b6485a86ba311c25639191. More information about it can be found at the CryptoKylin home page or at a Kylin Block Explorer.
L
The term used to signify the beginning of a blockchain. Common synonym; boot.
L
An algorithm for redistributing Vote Pay from all Block Producer Candidates whose votes would reward them with less than 100 EOS of rewards in a given day. Those tokens are redistributed amongst all other Candidates who are above that threshold.
L

If a block is deemed irreversible, it means that you can trust with 100% confidence that that transaction is final, fully confirmed, and immutable. If the block number of a block is lower than the Last Irreversible Block, that means it is considered final. Commonly abbreviated as LIB.

L
Within REX it is highly unlikely that we’ll ever be in this scenario but it should be understood. If there aren’t enough EOS tokens in the unlent pool to cover a requested withdrawal, then a “liquidity crunch” occurs. This means that all withdrawal orders will be queued, waiting for either new EOS tokens to enter the REX pool, or for resource loans to expire. There is no risk of a user not getting back their EOS tokens, they may just need to wait up to 30 days (at most) to get them. But to repeat, this is a highly unexpected event.
M

The main EOSIO blockchain. As the EOSIO software is open source and freely available, there can be many instances of it. The first one to be spun up for public usage was the one with chain ID: aca376f206b8fc25a6ed44dbdc66547c36c6c33e3a119ffbeaef943642f0e906.

M
During the EOS ICO on the Ethereum Network, users were asked to register their public key so that it could be mapped to their account on the EOS network, assigning that key to the Owner/Active permissions on the new network.
M
When you purchase REX tokens, you will be unable to trade them back into EOS tokens for at least four days. During this period, those tokens are referred to as maturing. You can have up to four different maturity dates at any given time. Also, if you elect to use a REX savings bucket, when you want to move REX tokens out of your savings, it will also take four days before they have matured, thus making them accessible.
M
A Merkle Tree is a cryptographic data structure used, in EOS, to link multiple transactions together using their hashes, and hashing multiple hashes together until you get up to a parent block. It is a quick way to prove inclusion of a transaction inside a block.
M

A microfork occurs when a Block Producer begins to produce blocks with the same block height as a block that was recently produced. This is often the result of high latency between producing nodes, which may occur from time to time. Since this is a small divergence in the flow of blocks on the blockchain, this is known as a microfork. There is very little cause for concern, and microforks should be almost undetectable to the average user. Watch our video explanation.

M
Short for multiple signatures. It describes requiring multiple signatures (in cryptography these would each be generated using a different private key) to perform an action. This can be used to provide increased security, as the loss of a single key would not allow a bad actor to appropriate an account’s authority.
N

Similar to .com and .org at the end of a URL, there are namespaces available in EOS. If a user wins a namespace auction for some suffix, say “com”, then they will be able to create special account names with “.com” at the end. The suffix is the namespace they bid on. Some major auctions that have been won were for .io .eos and .com.

N
Network, one of a user's resources, signifies the throughput capacity of the EOS blockchain. When you delegate tokens for Network, you are securing your right to utilize a pro-rata amount of the blockchain’s capacity.
N
Any computer or server that is running the nodeos software and is connected to an EOSIO blockchain peer-to-peer network.
O

An oracle is a system that makes off-chain data available on-chain. An example of this would be an oracle that takes the score of a basketball game and puts it on-chain for smart contracts to consume and base decisions on.

O
Within the permissions structure of an account, owner is the top-level authority. The owner permission can sign on behalf of, and restructure, all lower-level permissions. It is one of two default permissions that come with a new account, owner and active.
P P
As EOSIO operates with an account structure - a new feature amongst blockchains - a user can assign a unique permission structure to their account to delegate authority over different functions. For example, this can be used to increase security around more sensitive actions, such as transferring tokens, while not being as worried about securing a private key that can only be used to interact with a specific on-chain game.
P
Proof of Work is a consensus mechanism used by many blockchains, most notably by Bitcoin. The miner of the next block is the first to solve a hashing problem. The difficulty of this problem increases as more hashing power attempts to solve this problem at the same time. The ever-increasing amount of work that has gone into a blockchain over time is what protects the chain's history.
P

A private key is what can be used to sign a transaction that authenticates the holder, and allows the blockchain to only allow authorized actions that are listed as permissions on an EOS account. It is linked to a corresponding public key counterpart.

P

The term proxy can be used in two distinct definitions:

1. A user is registered as a proxy by calling the `regproxy` action, and can now have other users voting weight delegated along with their vote.

2. The actual act of delegating your vote towards another account. If a user does not want, or have the available time, to research which Block Producers should receive their vote (but still wants to participate in voting), they can proxy their vote strength towards another account. 

P
A public key is the publicly known portion of the private key/public key pair that a user can generate. There is no harm in giving out your public key, as it exerts no control. Rather, it is the private key that is associated to a given public key that can be used to sign a transaction if it has the correct permission authority.
R
Acronym for Random Access Memory. For speedy data lookup, a lot of data on EOS is stored within RAM. It is the most scarce system resource, which is why it must be purchased rather than staked for.
R
Referendums are used to poll a community to discover a communal opinion on a topic/question. As a 'governed blockchain', users use their stake to vote on proposals. The current referendum contract - eosio.forum - was written by EOS Canada.
R
When unstaking tokens, it takes 72 hours for a refund to be issued. Some block explorers will show the amount of tokens that are in the process of being released as ‘awaiting refund’.
R
Prior to the EOS token ERC-20 being frozen, users were asked to register their tokens, by mapping them to a public key which they control with a private key. This allowed newly created accounts to have EOS keys associated to them that each user supplied themselves.
R
An account on an EOSIO blockchain has three resources which it must maintain: RAM, CPU, and Network. RAM is a persistent resource (a user purchases it and controls it completely until they clean it out and sell it back to the blockchain), while CPU and Network are transient (an account may use it, and then it will regenerate as it is constantly rolling over).
R

Retiring a token removes it from the circulating supply entirely. This is similar to burning a token, however it has the added benefit that those tokens are no longer considered when calculating inflation. Only a multisig of 15 of 21 Block Producers can call this action.

R
Within EOSIO, a user can delegate their resources (CPU Bandwidth and Network Bandwidth) to another user. To incentivize this, a borrower can pay rent towards the lender. REX, a system level resource exchange smart contract written by block.one, is a tool that will decentralize this entirely. Rather than paying interest directly from a borrower to a lender, REX creates a pool based on a Bancor relay to distribute all collected interest between all lenders.
REX also includes a caveat that a user must be either voting for at least 21 Block Producers or be delegating their vote towards a proxy to be eligible to utilize the REX.
R

To interact with REX, you’ll need to first have EOS tokens in your REX fund. EOS tokens are held in your REX fund, not REX tokens.

R

Also known as: Savings Bucket. If you choose to hold your REX tokens within REX Savings, by calling the `mvtosavings` action, your REX will not be maturing. To sell your REX back into EOS, you will still need to wait through the four day maturity period.

R
A human readable contract that defines the intention of the associated smart contract written in a computer scripting language. According to Article 7 of the Constitution, all smart contracts on the EOS blockchain must also have a Ricardian Contract.
S

Also known as: REX Savings. If you choose to hold your REX tokens within REX Savings, by calling the `mvtosavings` action, your REX will not be maturing. To sell your REX back into EOS, you will still need to wait through the four day maturity period.

S
Smart contracts are self-executing contracts written in computer code.
S

At any given point in time, a snapshot of the total state of the chain can be taken. For example, this could be used by a token that wants to airdrop to all current token holders based on their current holdings.

S

A token whose value is intended to remain stable.  This can be done by pegging to another currency or token, or algorithmically. Many stablecoins peg to the US dollar, meaning that one token should always be redeemable for one US dollar.

S

Used in two ways: 1) Your total EOS token holding is referred to as your stake. 2) Synonym for delegate.

S
There are three different classifications a Block Producer can fall into: 1) The Top 21 who produce and validate blocks, and are paid a portion of block rewards and vote-based rewards, 2) A Producer whose ranking is below 21, but receives enough votes to receive at least 100 EOS of vote-based reward within a given day, 3) All other Block Producer Candidates who have registered their account as a Candidate through the `regproducer` contract.
The term 'Standby Producer' refers to all Producers who fall into the second classification above.
S
Sudo is a short-hand term based on the name of a Linux command that means 'super user do,' which is used to obtain elevated privileges when running a command. In EOSIO, 15 of 21 Block Producers can sign a transaction on behalf of a user. To simplify this process, a sudo contract was created to reduce the amount of individual steps needed to coordinate amongst the Block Producers. It has been deployed to the network under the account eosio.wrap.
S
Synonym for Block Producer. Often used by those familiar with some other blockchains.
S T
TaPoS is used to ensure that a user fetches the recent state of the top of the blockchain to prove that they are aware of the state of the chain when signing a transaction. This helps to prevent certain forms of attacks, such as a replay attack where a malicious user tries to replay a transaction, despite the state of the associated accounts having already been changed.
T

A testing environment in which developers can test their contracts or applications, where Block Producers can verify that their infrastructure operates as intended, and where new tweaks to source code can be checked for any missed bugs or unintended consequences. Testnets can be set up to mimic production networks, to simulate possible attacks, or for other purposes.

T

Loans that are taken out to borrow either CPU or Network resources from REX are open for 30 days. Only a user who is borrowing those resources (paying a fee into REX) needs to keep track of the 30-day time period. A user who is leasing out their tokens’ resources (earning value from REX) only needs to be aware of the four-day maturing period.

T

The unit of measurement of a cryptocurrency. On EOS, each EOS token can be split down to the 4th decimal place. You may sometimes see the words token and coin being used interchangeably.

T

A metric by which you measure the throughput capacity of a blockchain. As it currently stands, the EOS mainnet has attained 3996 TPS.

T
A block on the EOS blockchain can include many different transactions within it. Each transaction can include one or multiple different actions. Every interaction with the blockchain is classified as a transaction, not just the movement of tokens from one account to another.
U

Since the blockchain space is so new, it has been adopted primarily by tech enthusiasts who have taken the time to dig deep. But for greater adoption, the important things for a developer to keep in mind is often said to be the experience of the user, which starts with the interface through which they interact with the application.

U

An action that can be called to use staked tokens (staked towards either CPU or Network bandwidth resources) to purchase REX directly.

U
A user on EOS is any individual who interacts with the EOS blockchain, be it directly, or through a dApp.
V

During the ICO of EOS, Block.one raised approximately $4B USD. They chose to allocate, from the money raised, $1B USD to Venture Capital funds to help bolster the EOS community. To date, there have been partnerships announced with Galaxy Digital, SVK Crypto, Tomorrow BC, FinLab, and EOS Global.

V

With on-chain governance being at the forefront of EOSIO software, voting is a fundamental part of the system. The most widely used application of voting is to elect which Block Producers will actually produce blocks for the network. Voting will also be used to help collect the communal decisions through which we will change the course of the network - through referendums to alter the Constitution, to elect members to any boards that may form, and to vote things through the Worker Proposal System, amongst others.

V
To discourage users from casting a vote for Block Producers and then not updating their vote periodically, a decay in the relative vote strength of old votes was introduced. To maintain maximum vote strength, a user should vote at least once per week.
V
Of the 5% inflation on EOS, 1% goes towards Block Producer rewards. Of that 1%, 75% is paid according to the number of votes a Block Producer Candidate Receives. There is a 100 EOS per day threshold that must be met for a Candidate to receive this reward. Also known as Vpay. See also: Leaky Bucket Algorithm for more information.
V

The strength of a vote is calculated based on the number of tokens an account has staked for either CPU or Network Bandwidth, and the number of REX tokens held by that account, along with the time that the account last performed any of these actions: voteproducer, delegatebw, undelegatebw, buyrex, sellrex, or updaterex.

W

A software or hardware tool that stores your private keys, through which you sign transactions. A common misconception is that a wallet holds your tokens. However, tokens are never held, only the private keys that have control/rights over those tokens are being held.

W

A token holder who holds a very large stake.

W

A whitelist is a subjective measure that a blockchain node can put into effect to allow transactions to be put into a block only if they are listed on their author (account) or contract whitelist. Each node can specify their own whitelist, and these are not publicly viewable. Even if a node does not have the author/contract on their whitelist, it will still accept the transaction as valid if another Block Producer places the transaction into a block. To completely block transactions that are not on the whitelist from being added, all Block Producers will need to have the same whitelist settings at all times. Whitelist takes precedence over blacklist. Watch our video explanation.

W
A system through which communal funds would be used to support chain-enhancements, community projects, and anything that the community felt was deserving of public funding. It is set up to be funded through a portion of inflation.