Terminology & Comparison Between IOV & Cosmos Where Applicable
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Terminology & Comparison Between IOV & Cosmos Where Applicable
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CosmosIOVNotes
* Indicates a fundamental difference between the IOV and Cosmos networks
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ValidatorValidator
Validators produce blocks
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DelegatorDepositor
A Cosmos delegator stakes their atoms to a validator; an IOV depositor enters into a term deposit, see "Term deposit" below
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DelegateDeposit
For Cosmos, the act of delegating atoms; for IOV, the act of entering into a term deposit
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DelegationTerm deposit
* IOV token holders can deposit their tokens into the IOV economy and earn interest; this is NOT a deposit to a particular validator, it is a deposit into a smart contract
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Staking rewardInterest
Interest is paid to depositors and is based on fees generated by transactions and the depositor rate, and long term bonus and early adopter bonus, if applicable
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InflationNot Applicable
* The IOV economy has a fixed number of tokens
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Transaction feeTransaction fee
The cost to execute a transaction, including registering/editing an entry in the IOV Name Service, which is far greater than the anti-spam fee
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CommissionNot Applicable
* Cosmos validators charge a commission; IOV validators do not
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Proposer reward
Not Applicable
IOV pools what other chains deem "block rewards" and distributes the pool to validators and depositors based on their quality score/depositor rate and their deposits
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Not ApplicableTurnover
The revenue generated in the IOV economy; the sum of all transaction fees in a given period of time
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UptimeQuality score
IOV's quality score is a more sophisticated version of Cosmos' validator uptime
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Not ApplicableDepositor rate
The rate applied to term deposits for non-validators
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Not ApplicableGuaranteed reward
* The pre-allocated subsidy of IOV tokens that is distributed to validators and depositors in an algorithmic manner that decreases to zero over time; does NOT cause inflation; is NOT paid on every block
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Block rewardNot Applicable
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Not ApplicableLong term bonus
* A bonus added to the depositor rate given to depositors that maintain their deposit for an extended period of time
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Not Applicable
Early adopter bonus
* A bonus added to the depositor rate for early adopters of IOV's economy
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Not ApplicableReward account
* The account in which all fees (IOV Name Service registrations/edits, send fees, etc) accumulate; reward distribution to validators and depositors comes from this account
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Not ApplicableValidator Reward
* The proportion of the reward account that is shared among all validators in the validator set; depositors are not eligible for this reward
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Voting PowerVoting Power
* The voting power of all IOV validators is equal
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Notes
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IOV's term deposit is more flexible than a bank's term deposit in that there is no penalty for early withdrawl per se; the cost for early withdrawl is the loss of interest
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