> For the complete documentation index, see [llms.txt](https://docs.txflow.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.txflow.com/txflow-l1/core-protocol/state-machine.md).

# State Machine

TxFlow maintains a deterministic state machine.

### State Transition

```
State N
 +
Transaction Batch
 +
Execution Rules
 =
State N+1
```

### Managed Objects

#### Accounts

* Wallets
* Permissions
* Nonces

#### Margin State

* Collateral
* Maintenance Margin
* Position Margin

#### Orders

* Open Orders
* Filled Orders
* Cancelled Orders

#### Vaults

* Shares
* Deposits
* Withdrawals

#### Channels

* Channel Metadata
* Channel Configuration