What is Markov Chain?

The Markov Chain is a stochastic generative model, used to model probabilities of sequences of events. It is a probabilistic graphical model (PGM) with the Markov property. It has several uses, which include evaluation, decoding, and predicting. Markov models are a theoretical basis for many, often much more complicated, models of sequences. The basic Markov chain is simple, and uses explicit and direct probabilities between random variables. More complex models might have a function dependent on many variables that model probabilities.