So basically Ethereum is a deterministic state machine, understandable but what does the word "unbounded" in this context exactly mean?
I am guessing it means it can output an infinite num of states, in contrast to a simple on/off state machine (but only one state is globally accepted at every change)
Any clarifications would really be appreciated, thank you!
Unbounded state means it has a globally accessible singleton state. Having a globally accessible singleton state means there is only one shared state in the EVM, meaning that it operates as if it were a global, single-instance computer, running everywhere. Each node on the Ethereum network runs a local copy of the EVM to validate contract execution, while the Ethereum blockchain records the changing state of this world computer as it processes transactions and smart contracts.
