From a01a625dba4f085b311e88fb166e4aeaaaf3b47a Mon Sep 17 00:00:00 2001
From: Pavel Zbitskiy <pavel@algorand.com>
Date: Fri, 18 Feb 2022 15:22:12 -0500
Subject: [PATCH] Spec update for unlimited assets

---
 dev/ledger.md | 30 +++++++++++-------------------
 1 file changed, 11 insertions(+), 19 deletions(-)

diff --git a/dev/ledger.md b/dev/ledger.md
index caae010..65242d6 100644
--- a/dev/ledger.md
+++ b/dev/ledger.md
@@ -31,7 +31,6 @@ The Algorand Ledger is parameterized by the following values:
    Currently defined as 140,000.
  - $\omega_r$, the rate at which the reward rate is refreshed.
  - $A$, the size of an earning unit.
- - $Assets_{\max}$, the maximum number of assets held by an account.
 
 ## States
 
@@ -381,17 +380,17 @@ parameters_, which can be encoded as a msgpack struct:
   a [TEAL Key/Value Store][TEAL Key/Value Stores]. This field is encoded with
   msgpack field `gs`.
 
-Parameters for applications created by an account are stored in a map in the
-account state, indexed by the application ID. This map is encoded as msgpack
-field `appp`. The maximum number of applications that a single account may
-create is 10. Creating one application increases the minimum balance
+Parameters for applications created by an account are stored alongside the
+account state, indexed by a pair (address, application ID).
+There is no limit on amount of application an account can create.
+Creating one application increases the minimum balance
 requirements of the creator by 100000 microalgos, plus the [`GlobalStateSchema`
 Minimum Balance contribution][App Minimum Balance Increases].
 
-`LocalState` for applications that an account has opted in to are also stored in
-a map in the account state, indexed by the application ID. This map is encoded
-as msgpack field `appl`. The maximum number of applications that a single
-account may opt in to is 10. Opting in to one application increases the minimum
+`LocalState` for applications that an account has opted in to are also stored alongside
+the account state, indexed by a pair (address, application ID).
+There is no limit on amount of application an account can opt in to.
+Opting in to one application increases the minimum
 balance requirements of the opting-in account by 100000 microalgos plus the
 [`LocalStateSchema` Minimum Balance contribution][App Minimum Balance Increases].
 
@@ -496,10 +495,10 @@ which can be encoded as a msgpack struct:
    The clawback address is used to issue asset transfer transactions
    from arbitrary source addresses.
 
-Parameters for assets created by an account are stored in a map in the
-account state, indexed by the asset ID.
+Parameters for assets created by an account are stored alongside the
+account state, indexed by a pair (address, asset ID).
 
-Accounts can hold up to $Assets_{\max}$ assets (1000 in this protocol).
+Accounts can create and hold any number of assets.
 An account must hold every asset that it created (even if it holds 0
 units of that asset), until that asset is destroyed.  An account's asset
 holding is simply a map from asset IDs to an integer value indicating
@@ -780,10 +779,6 @@ The _authorizer address_, a 32 byte string, determines against what to verify th
 
   The logic signature is valid if exactly one of _sig_ or _msig_ is a valid signature of the program by the authorizer address of the transaction, or if neither _sig_ nor _msig_ is set and the hash of the program is equal to the authorizer address. Also the program must execute and finish with a single non-zero value on the stack. See [TEAL documentation](TEAL.md) for details on program execution.
 
-A transaction must be rejected if its inclusion in a block would cause an
-account's minimum balance to exceed the _maximum minimum balance_ of 100100000
-microalgos.
-
 ## ApplyData
 
 \newcommand \ClosingAmount {\mathrm{ClosingAmount}}
@@ -1244,9 +1239,6 @@ all following conditions hold:
    $\Stake(\rho+1, I) \geq b_{\min} \times (1 + NA)$, where $NA$ is the number of
    assets held by that account.
 
- - For all addresses, the number of assets held by that address must be less than
-   $Assets_{\max}$.
-
  - $\sum_I \Stake(\rho+1, I) = \sum_I \Stake(\rho, I)$.
 
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