EOS Dictionary pt.4

IBC (Inter-Blockchain Communication)

This tool is not operative yet. The name speaks for itself — this tool will provide communication between different blockchains (whether it's sending of tokens or the expansion of the capacity of the network).

ICO (Initial Coin Offering)

A method of distributing coins at the starting point of the launch of a new currency. The coins are distributed via selling for fiat money or cryptocurrencies.

IMEOS

IMEOS is a Chinese media organization that works with the Chinese-speaking EOS community since the early days of the EOS platform.

Immutable

Blockchain is immutable distributed ledger. It means that any new block contains the entire history of the blockchain so the blockchain data can't be changed. That's why it is called immutable.

Inflation

The EOS platform creates new tokens via programmed inflation set at 5%. 20% of new tokens is the reward of Block Producers and Standby Producers. All the rest tokens are directed to the eosio.saving account.

Inline Action

Actions created as a part of a smart contract are called inline actions. A user creates an action which can create a number of following actions for execution within the same transaction or other newly created deferred transactions.

IPFS (InterPlanetary File System)

IPFS is a tool that places data online for decentralized storage of files. This system reminds of BitTorrent. Block.one is working on the integration of IPFS into the EOSIO blockchain.

Jungle

One of the two main EOS testnets has the name "Jungle".

KOREOS

KOREOS is a media organization aimed to provide the Korean-speaking segment of the EOS community with the latest news and updates on EOS-related topics.

Kylin

One of the two main EOS testnets has the name "Kylin".

Launch (or boot)

The starting point of the blockchain is called "launch".

Leaky Bucket Algorithm

This algorithm works this way: In case if a Block Producer Candidate earns less than 100 EOS as a reward during the given day this Vote Pay is redistributed amongst the rest Candidates who managed to earn more than 100 EOS.

LIB (Last Irreversible Block)

LIB contains the final immutable transactions. All the blocks having a number lower than the LIB's number are final.

Mainnet

Mainnet is the main EOSIO blockchain. Due to the fact that EOSIO is open source, there can be different versions of it. The chain ID of the very first fully operative mainnet is aca376f206b8fc25a6ed44dbdc66547c36c6c33e3a119ffbeaef943642f0e906.

Mapping

This procedure took place in the times of the EOS ICO on the Ethereum Network. Users were registering their public keys so they could be mapped to their EOS accounts using the Owner/Active permissions on the EOS network.

Merkle Tree

Merkle Tree is a specific structure of cryptographic data that allows fast proving of inclusion of a transaction inside a block.

Multi-sig

Multi-sig means multiple signatures. Some actions require the use of multiple signatures (each one has its own private key). This measure increases the security of the procedure.