A Computational Model for World-State based contracts in UTXO PoW-Style Blockchains

This proposal gives UTXO based blockchains the ability to keep a world state. By invoking monadic thinking we limited the amount of unwanted side effects. The more appealing concept in general is to allow more aggressive OP_CODEs on data (item) type transactions but not on coin type transactions. Coin based scripts can push values from item type transactions onto the stack and can be more expressive (a mildly context-sensitive system in the Chomsky hierachiy), but by being functional-esk in preventing unwanted side effects. This is the first move towards Turing complete data operations for expressivity but Non-Turing complete (safe) financial transactions.