What is Snapshot?

In the context of blockchain, "snapshot" has several meanings. It usually refers to the capability to record the current state of a blockchain network during a certain time period. Often a snapshot is taken during a specific block to record the entire history of the ledger up until that point and includes data such as transactions, existing addresses and balances, metadata, and more. Snapshot can also refer to a dataset which records the balance of each user's blockchain address in order to fairly distribute tokens during a token airdrop giveaway or token distribution event like an Initial Exchange Offering (IEO).