Externally-Owned Account (EOA)
An externally-owned account (also known as EOA) is one of the two types of Ethereum accounts. A private key controls it; it has no code, and users can send messages by creating and signing Ethereum transactions.
Gasless Transaction
Gasless transactions (also known as meta-transactions) are EVM transactions that are executed by a third party called relayer (see definition in this glossary) on behalf of a smart account to abstract the use of gas. Users must sign a message (instead of the transaction itself) with information about the transaction they want to execute. A relayer will create the EVM transaction, sign and execute it, and pay for the gas costs. The main benefit is that users can interact with the blockchain without holding the native token in their account.
Network
A blockchain network is a collection of interconnected computers that utilize a blockchain protocol for communication. Decentralized networks allow users to send transactions, that are processed on a distributed ledger with a consensus mechanism ensuring the batching, verification, and acceptance of data into blocks. This structure enables the development of applications without the need for a central authority or server.
Owner
A Safe owner is one of the accounts that control a given Safe. Only owners can manage the configuration of a Safe and approve transactions. They can be either externally-owned accounts or smart accounts. The threshold of a Safe defines how many owners need to approve a Safe transaction to make it executable.
Relayer
A relayer is a third-party service acting as an intermediary between users' accounts and blockchain networks. It executes transactions on behalf of users and covers the associated execution costs, which may or may not be claimed.
Multi-signature Safe Wallet (Multisig)
Safe is a smart contract wallet that requires a minimum number of people to approve a transaction before it can occur (M-of-N). If for example you have 3 main stakeholders in your business, you are able to set up the wallet to require approval from 2 out of 3 (2/3) or all 3 people before the transaction is sent. This assures that no single person could compromise the funds.
Smart Account or Smart Wallet
A smart account (also known as a smart contract account) leverages the programmability of smart contracts to extend its functionality and improve its security in comparison with externally-owned accounts. Smart accounts are controlled by one or multiple externally-owned accounts or other smart accounts, and all transactions have to be initiated by one of those.
Some common features that smart accounts offer to their users are:
Multi-signature scheme
Transaction batching
Account recovery
Gasless transactions
Safe is one of the most trusted implementations of a smart account.
Staking
Staking involves participating in transaction validation on proof-of-stake (PoS) blockchains, similar to mining on proof-of-work networks. By staking your crypto assets, you help secure the network and may earn rewards.
Most protocols restrict selling or transferring assets while they are staked. After requesting to unstake, a lockup period typically applies before assets become accessible again. During this period, your assets remain exposed to market price fluctuations, and most protocols do not provide staking rewards.
Transaction
A transaction is an action initiated by an externally-owned account to update the state of the EVM network. Transaction objects must be signed using the sender's private key, require a fee, and be included in a validated block.
Threshold
The threshold of a Safe account is a crucial configuration element that enables using Safe as a multi-signature smart account. It defines the number of required confirmations from the Safe owners a (Safe) transaction must have to be executable.
Wallet
A wallet is an interface or application that gives users control over their blockchain account. Wallets allow users to sign in to applications, read their account balance, send transactions, and verify their identity.