Eucharist (n.) Look up Eucharist at Dictionary.com "sacrament of the Lord's Supper, the Communion," mid-14c., from Old French eucariste, from Late Latin eucharistia, from Greek eukharistia "thanksgiving, gratitude," later "the Lord's Supper," from eukharistos "grateful," from eu "well" (see eu-) + stem of kharizesthai "show favor," from kharis "favor, grace," from PIE root *gher- (5) "to like, want" (see hortatory). Eukharisteo is the usual verb for "to thank, to be thankful" in the Septuagint and Greek New Testament. Related: Eucharistic.
is not a wafer but an event
“The eucharist;...is not a wafer but an event”
The Eucharist:
356. Why does Christ give us His own body and blood in the Holy Eucharist?
Christ gives us His own body and blood in the Holy Eucharist: first, to be offered as a sacrifice commemorating and renewing for all time the sacrifice of the cross; second, to be received by the faithful in Holy Communion; third, to remain ever on our altars as the proof of His love for us, and to be worshipped by us. http://www.ewtn.com/faith/teachings/eucha1a.htm
I do not rely solely on secular online dictionaries for my understanding of religious things. I suggest you don’t either.