where T represents a single time-step. In an MSM, the stationary distribution π represents the equilibrium probabilities for each state. Therefore, assuming sufficient statistics are collected to observe transitions between states, MSMs are able to appropriately capture the equilibrium thermodynamic and kinetic behaviors of a system. It is important to note that the underlying assumption behind MSM construction is that the discretized dynamics of biomolecules is memoryless (aka Markovian). That is, the probability of a transition from state i to state j at time t is only dependent on state i and not any of the previously visited states.