How to Create a Consensus on a Transaction

The application layer is very obvious. This says that you are creating a uni swap. For example, you are exchanging beef token for a USDC or something. We call this state, like your balance on the chain, what your hold is, that's called a state. But at the same exact block, in run, chow, all of you are emitting transactions. So we need to kind of settle all this transaction. After execution comes settlement, we need to update these transactions and update everyone's state. The network as a whole have to do that. That's why validators, each validator in the network have to re-execute the transaction. And all of us have

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