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Snapshot

A snapshot in the blockchain world is the act of documenting the status of a blockchain at a specific block height.

What Is a Snapshot?

The capacity to record the condition of anything at a precise moment in time is referred to as a snapshot. A snapshot in the blockchain world is the act of documenting the status of a blockchain at a specific block height. It is employed to keep track of the overall quantity and balance of token holders at any time.

The Traditional Interpretation

Taking a snapshot, also known as a storage snapshot, is similar to taking a photograph of your server's data at a certain point in time. Snapshots are not a complete duplication of the data on your hard disk; they are largely metadata that specifies the state of your information. They can also only be saved on the local server or a device where they were generated.

As live data in application tests, such as when testing a new application or program or trying out new settings, may put your system at risk, snapshots are commonly utilized for test/dev. They provide access to an infinite number of clones of your data, allowing you to work on development without affecting your regular routine. Workflows may be automated, tested, iterated, and dismantled without taking up a lot of extra storage space. As a fast failsafe, you may roll the server back to an earlier point if an error occurs.

Snapshots are commonly used in production; in fact, every time you generate a backup, the system begins with a snapshot.

Full backups, on the other hand, can take hours to make and sometimes must be done overnight due to the system resources they demand. Snapshots, on the other hand, can be created in seconds and as frequently as needed. You may also deduplicate the data being snapshotted using technologies like modified block tracking (CBT).

Snapshots are only designed to be kept for a limited period of time, but if not properly handled, they can result in incredibly complicated data chains and very long consolidation times.

Cryptographic Snapshots

A snapshot in cryptocurrency is a record of the status of a blockchain at a specific block height. It captures the whole blockchain ledger, including all existing addresses and their related data.

What Are Snapshots in Crypto Airdrop Events?

Before each round of an airdrop event, snapshots are frequently taken. Tokens are distributed based on the balance of each blockchain address available during the snapshot period. 

Snapshots are taken to record each token holder's balance at a certain moment in time (i.e., block height). Users can usually shift their funds after the snapshot is taken without jeopardizing their eligibility for that round of pay-out.