Glossary

Metachain: the blockchain that runs in a special shard, where the main responsibilities are not processing transactions, but notarizing and finalizing the processed shard block headers.

Address: the public key of a wallet. The Elrond Address format is bech32, specified by the BIP 0173. The public key always starts with an erd1. e.g.: erd1sea63y47u569ns3x5mqjf4vnygn9whkk7p6ry4rfpqyd6rd5addqyd9lf2.

Node: a computer or server, running the Elrond client and relaying messages received from its peers.

Validator: a node on the Elrond network that staked at least 2500 EGLD, that processes transactions and secures the network by participating in the consensus mechanism, while earning rewards from the protocol and transaction fees.

Observer: a passive member of the network that can act as a read & relay interface.

Validate: the act of running a validator node and contributing to the network by relaying and validating information.

Stake: contribute to the network security by delegating 1 EGLD or more towards a staking provider that operates validator nodes.

Delegate: contribute to the network security by delegating 10 EGLD or more towards the Elrond Community Delegation contract.

Stake rewards: locked funds for running validator nodes to secure the network and generate income in form of rewards. Rewards can be claimed or restaked.

Delegate rewards: locked funds from delegation contracts also generate income in form of rewards. These rewards can be claimed or redelegated

Unstake: the intention to unlock staked/delegated funds, that will become available after the 10 epoch unbonding period.

Unbond: withdraw the funds in the original account after the 10 epoch unbonding period.

Staking provider: node operator that created a staking pool and accepts funds for staking.

Staking pool: a system smart contract that accepts funds for staking.

Delegation cap: the maximum amount of funds accepted by a staking pool.

APR: annual percentage rate.

Service fee: fee that the service providers are taking from the rewards their staking pools have received.