Hey great read. Just a question. When you say- "On a blockchain, the current state is never explicitly represented because only transactions are stored. In other words, there’s no record saying “Bob currently at this moment has $x.”" what do you mean? I mean how do the various wallets show the user's current balance then? A follow up question is does accessing the state each time count as a transaction bc then that would be very costly and not using the blockchain for such a task would make a lot of sense.
Hey great read. Just a question. When you say- "On a blockchain, the current state is never explicitly represented because only transactions are stored. In other words, there’s no record saying “Bob currently at this moment has $x.”" what do you mean? I mean how do the various wallets show the user's current balance then? A follow up question is does accessing the state each time count as a transaction bc then that would be very costly and not using the blockchain for such a task would make a lot of sense.