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Steem Developer Portal - Glossary

Understanding the common terms used by the Steem blockchain is an important part of being able to build applications and tools that use it.

This section outlines several of the common terms.

More terms and information can be found on the steemit.com FAQ.

Chain Basics

Blockchain
Decentralized ledger and consensus protocol
Steem (blockchain)
Name of the blockchain and platform
Bandwidth
formerly the limit of data each account can send/use (replaced by Resource Credits)
Resource Credits
is the limit of data each account can utilize resources on the blockchain (also known as RC)
VESTS
Vests is underlying token that STEEM is derived from, and are share in Steem Power
STEEM (currency)
Currency of the blockchain, liquid version of Steem Power
SBD
Steem Backed Dollar, $1 worth of STEEM
Steem Power
Locked version of STEEM which gives account influence on the platform
Transaction
Operations/Activity/Write requests to the blockchain. A transaction is a submitted update to the Steem blockchain. This can include token transfers, posts/comments, votes, etc.
Block
Every three seconds, the Steem blockchain produces a new block. Each time a new block is produced, the distributed network is updated with all of the transactions that occurred within that block.
Block Header
Information about block, root and witness who signed, etc.
Price feed
Feed that is maintained by witnesses to ensure SBD/STEEM price stability
Account
An account is a container for all of the activity associated with a particular user's wallet on the blockchain. This includes all of their tokens, posts, comments, upvotes, transfers, etc.
Authority
Each Account has multiple authority and keys to manager different permissions on the platform
Owner
Owner authority/permission of account
Key
Keys are used to authenticate transactions. Each key contains a public/private pair. When a transaction is submitted to the Steem blockchain, it is signed by the account owner using their private key. The blockchain is able to determine that the transaction is valid by validating the signiture against the public key from the pair.
Public Key
Public key of account's certain authority
Private Key
Private key to sign a transaction with account's authority, should be kept secret because it grants access to account
Wif
Wallet Import Format/Private key, should be kept secret because it grants access to account
Active key
The active key is used to make transfers and place orders in the internal market
Posting key
The posting key is used for posting and voting
Owner key
The owner key is the master key for the account and is required to change the other keys
Post
A post is a root level comment - one that has no "parent".
Comment
A comment is text content that is stored on the blockchain. Comments can be linked to other comments as "replies" through parent/child relationships.
Vote
A vote is an expression of like (upvote) or dislike (downvote) for a post/comment. The Steem blockchain uses the votes that a post/comment has received to determine it's share of the rewards.
Reputation
Account's reputation on platform
Markdown language
Easy to read and write, plain text format language commonly used to create Steemit articles
Mainnet
The 'production' Steem blockchain network wherein real STEEM is held and actual transactions take place.
Delegation
The assignment of a portion your Steem Power for use to another account (cannot be spent, can be reclaimed)
PowerUp
Convert STEEM to Steem Power and vice-versa with PowerDown
Reward Pool
Every day, a fixed amount of STEEM tokens are allocated to the network reward fund, commonly called the "reward pool." These get distributed to authors and curators for posting and voting on content.

Governance

DPOS
Delegated Proof of Stake
Node
A node is an instance of the Steem blockchain running on a server.
Witness
Witness is a position/role for the people who are chosen by community (delegate trust) to support platform and run consensus protocol to ensure security and validity of transactions/blocks on the blockchain. A witness is responsible for signing and validating blocks for the Steem blockchain.
Hardfork
Process to release protocol/blockchain consensus upgrades
Softfork
Process to release protocol/blockchain software improvements
Witness Vote
Voting/electing witnesses with account's stake

Transactions

Pending Transaction
Transaction that is pending and to be included to the blockchain
Transaction Hex
Hash of the transaction
Signatures
Transaction signature signed by account with private key
Broadcast Transaction
Event where signed transaction is broadcasted to the network, so that witnesses could validate and include in block
Virtual operation
Operations that are derived from blockchain activity, but aren't actually stored as operations themselves (ex. curation and author rewards). They happen based on consensus from the blockchain based on other normal operations

API

Hot
Posts/Disccussions that are highly valued with shorter time interval update
Feed
Posts/Disccussions from followers of particular account
Active
Posts/Disscussions that are still actively being engaged
New
Newly created posts
Cashout
Posts which was paid out recently
Pending Payout
Estimated pending payout for blog posts/comments
Tags
A tag is a descriptor that is used to identify the type of content contained within a comment/post.
Following
Account that is being followed
Follower
Account that is following the user
State
State of blockchain for path - accounts/tags/filters/posts
Dynamic Global Properties
Current blockchain global properties which is being in each block
Median Price
Median Price feed provided by all witnesses
Curator
A steem user who upvotes a post by using their daily voting power to assign value to a post that they believe has good quality content and should be seen and the author rewarded
Curation reward
The reward given to a curator, which is their portion of the 50% allocated to all curators that have upvoted a post
Resteem
(Reblog) re-posting another authors' post in your blog feed for your followers list

Market

Conversion Requests
Request submitted for Converting SBD to STEEM
Order Book
Internal market order book to exchange SBD<->STEEM
SMT
Smart Media Tokens