Snapshot

Customarily, the term snapshot alludes to the ability to record the state of a computer system or storage gadget at a specific point in time. In cryptographic forms of money, a snapshot is frequently depicting the act of recording the state of a blockchain on a specific block height. In this case, the snapshot records the items in the whole blockchain ledger, which incorporates every single existing address and their associated data (transactions, fees, balance, metadata, etc).
Snapshots are regularly utilized during airdrops occasions before each round happens. During an airdrop, tokens are distributed in view of the balance of each blockchain address. In this case, snapshots are taken to record the balance of every token holder, at a specific point in time (i.e., block level). As a rule, users can move their funds after the snapshot is taken, without undermining their qualification to partake in that round of distribution.
Snapshots are additionally important during blockchain hard forks, as they mark the block level in which the primary chain will be recorded before bringing forth the new chain. For example, when the Bitcoin Cash hard fork occurred (on August first, 2017), each blockchain address that had Bitcoins at block 478,558, had the balance replicated on the Bitcoin Cash blockchain. The justification behind that is on the grounds that both blockchains share similar historical data prior to the fork. When the split is finished, each blockchain network will operate autonomously.
One more utilization of snapshots is to record the BNB balance of users that will partake on Initial Exchange Offerings (IEO) that happen on the Binance Launchpad. Be that as it may, the snapshots follow specific rules, as indicated by the rules of each project. Now and again, the snapshots are taken at a random time every day, and the users' balances are found the middle value of inside a predefined period.