State transition systems are computational models that describe how a system changes from one state to another based on specific inputs or events. Each change represents a transaction or operation that modifies the system’s overall condition. In blockchain, this refers to how the global state of the ledger, including account balances and smart contract data, updates with each new block of validated transactions. They provide a precise framework for understanding system behavior.
Context
The concept of state transition systems is fundamental to understanding how blockchains operate and process transactions, often appearing in technical analyses of protocol design. News regarding blockchain upgrades or new virtual machines frequently discusses improvements to these systems, aiming for greater efficiency and security. The correctness and determinism of state transitions are paramount for maintaining the integrity and reliability of decentralized ledgers.
A new formal verification framework proposes three universal properties—Validity, Liquidity, and Fidelity—to establish a generalized security standard, preempting common exploits and foundational flaws across all smart contract architectures.
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