"stop" just means 'aperture' and comes originally from the phrase 'waterhouse stop'. Originally these 'stops' were simply round holes of different size placed against a lens to limit the amount of light admitted. They were arranged in a set on a disc so that each 'stop' had a logrithmic progression,..thus each 'stop' allows 2x the light of it's smaller neighbour. By dividing the foical length with the physical diameter of the stop you get the stop number such as f2.8 or f16 etc. f16 is much smaller, and passes much ,less light, than f2.8,...'big number, small hole'...!!
When the variable iris diaphragm came into use the same system was transferred to that device. An f2 lens for example usually has a range of apertures or 'stops' going; f2 (sometimes f1.7 such as pentax of f1.8 as with Canon but the same animal for all practical considerations ) then, f2.8, f4, f5.6, f8, f11, f16, and sometimes f22.
Note; in modern parlance, especially among those who don't really no anything better, a 'stop' has come to mean 1 EV,...ie one dfferance in EITHER aperture, shutter speed or possibly iso such that there is two times less light or two times more.
f3.5 is NOT a whole 'stop' in a range of apertures,..its aprox half way between f2.8 and f4.
The use of the phrase "2/3 of a stop" came from the permitted 'tolerance' in exposure calculation when using professional tranparency film. 'Half a stop' is the minimal exposure differanc that could be normally seen on a light box when viewing transparencies.
EDIT: 'streetshooter'posted before me but I'll let my post stand for added detail.