What does currency circle snapshot mean? A comprehensive introduction in one article

Cryptocurrency snapshot refers to the system status that records all addresses and balances on the blockchain at a specific time, and is used to determine historical data, such as account balances, token holdings, etc. It has account snapshot, token snapshot, block height snapshot and other types. Snapshots are widely used in airdrops, governance distribution, historical analysis, audit compliance and other fields. Making a snapshot requires selecting a point in time, collecting data, building a data structure, and generating a root hash. Blockchain security measures ensure the accuracy and integrity of snapshot data.

What does the currency circle snapshot mean?

Coin snapshot refers to recording the status of all addresses and balances on the blockchain at a specific point in time. It provides a systematic record that can be used to determine account balances, token holdings, and other relevant information at a specific point in time.

1. Types of snapshots:

• Account snapshot: Record the balances and token holdings of all accounts at a specific point in time .
• Token Snapshot: Records the balance and token holdings of all accounts holding a specific token at a specific point in time.
• Block height snapshot: Records the block hash value at a specific height in the blockchain.

2. The uses of snapshots:

Snapshots have a wide range of uses, including:

• Airdrop:The project team can airdrop tokens to users holding specific tokens or ETH addresses at a specific point in time.
• Governance Allocation: Governance tokens can be allocated to users who hold a specific number of tokens at the snapshot time point.
• Historical Analysis: Snapshots can provide historical data at a specific point in time for analyzing market trends and investment decisions.
• Audit and Compliance: Snapshots serve as evidence of account balances and token holdings at a specific point in time for audit and compliance purposes.

3. Snapshot making process:

Making a snapshot involves the following steps:

1. Select the snapshot time point.
2. Collect all account and balance information from the blockchain.
3. Create a Merkle tree or other data structure to store data.
4. Generate the root hash and publish it to the public.

4. Security of Snapshots:

The security of snapshots is crucial as they contain important information about account balances and token holdings information. The security measures of the blockchain itself, such as cryptographic hashes and consensus algorithms, help ensure the accuracy and integrity of the snapshot data.

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