Difference between revisions of "State"
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A set of information that represents the “current state” of a system; determining whether or not a [[Transaction (Tx)|transaction]] is valid, as well as the effect of a transaction, should in the simplest model depend only on state. Examples of state data include the [[UTXO]] set in [[Bitcoin (BTC)|bitcoin]], balances + [[Nonce|nonces]] + code + storage in [[Ethereum (ETH)|ethereum]], and domain name registry entries in [[Namecoin (NMC)|Namecoin]]. | A set of information that represents the “current state” of a system; determining whether or not a [[Transaction (Tx)|transaction]] is valid, as well as the effect of a transaction, should in the simplest model depend only on state. Examples of state data include the [[UTXO]] set in [[Bitcoin (BTC)|bitcoin]], balances + [[Nonce|nonces]] + code + storage in [[Ethereum (ETH)|ethereum]], and domain name registry entries in [[Namecoin (NMC)|Namecoin]]. | ||
On a [[blockchain]], state describes who owns what and the condition of all [[Smart Contract (SC)|smart contracts]] at a certain point in time. The state of a blockchain grows bigger the more it is used. This problem is known as state bloat. | |||
[[Category:Jargon/Various]] | [[Category:Jargon/Various]] | ||
Latest revision as of 06:07, 23 July 2023
A set of information that represents the “current state” of a system; determining whether or not a transaction is valid, as well as the effect of a transaction, should in the simplest model depend only on state. Examples of state data include the UTXO set in bitcoin, balances + nonces + code + storage in ethereum, and domain name registry entries in Namecoin.
On a blockchain, state describes who owns what and the condition of all smart contracts at a certain point in time. The state of a blockchain grows bigger the more it is used. This problem is known as state bloat.
