A
Markov chain (
discrete-time Markov chain or
DTMC), named after
Andrey Markov, is a
random process that undergoes transitions from one state to another on a
state space. It must possess a property that is usually characterized as
"memorylessness": the probability distribution of the next state depends only on the current state and not on the sequence of events that preceded it. This specific kind of "memorylessness" is called the
Markov property. Markov chains have many applications as
statistical models of real-world processes.