EOS Dictionary pt.2

Block Rewards

EOS has inflation by design. The annual inflation is set to be 5%. 1% is a Block Producers' reward. 0.25% is paid on a per-block-created scheme (Bpay).

Block.one

Block.one is the company that created the EOS project and the related software. The Block.one's ICO lasted for almost a year and raised a record $4 Billion. The Block.one CEO is Brendan Blumer.

Blockchain

Blockchain is the distributed ledger technology created in the 21st century. Blockchain is an immutable chain of blocks of data (transactions).

Child

An account owner is a top authority in the hierarchy of the permissions. Each nested permissions is called a child. For example, the active permission is a child in relation to the owner permission.

Chintai

Chintai is a decentralized resource exchange, a product created by the EOS Block Producers. The exchange provides users with the opportunity to rent out resources on configurable agreements.

Cold Storage

The method of storing private keys offline.

Consensus

The consensus is an agreement shared by all platform users by default. Different blockchains utilize different consensus mechanisms (e.g. EOS uses Delegated Proof of Stake).

Constitution

The existing system of rules that are necessary for following on the EOS platform for everyone.

CPU

CPU is one of the basic EOS resources available for allocation via the staking mechanism. CPU represents processing time. Each transaction requires a certain allocation of CPU so users should keep some resources in order to make transactions.

DAC — Decentralized Autonomous Corporation

DAC = Decentralized Autonomous Corporation or Decentralized Autonomous Community. This is a kind of co-op, an anonymous (if it's needed) self-governing unit. The basic info on DAC principles is kept in a smart contract DAO (Decentralized Autonomous Organization).

Daniel Larimer

Larimer (known also as Bytemaster) is CTO of Block.one. He created Steem and BitShares blockchains and then joined the EOS team.

DApp

DApp means "decentralized (or distributed) application". What makes DApps different from all other types of application is that DApps are built in the decentralized network. DApps operate without the central actors.

Deferred Transaction

The deferred transaction is initiated within the other transaction but it can't be executed within the initial transaction.

Delayed Transaction

The transaction can be delayed intentionally via activating the delay flag (the delay time is measured in seconds).

Delegate

All tokens on EOS can be delegated (staked) or undelegated (unstaked). The delegation is executed in order to allocate the network resources for a specific account (users can allocate resources for themselves or for someone else).

DLT (Distributed Ledger Technology)

A blockchain is a synchronized decentralized system of digital data. The bitcoin blockchain is an early example of DLT.

DPoS

Delegated Proof of Stake is the consensus mechanism used on the EOS platform. The network is governed by the limited number of elected Block Producers motivated by rewards and the need to maintain a good reputation within the community. It is considered that the network is safe until at least 7 of 21 Block Producers are acting independently from the rest 14 BPs.