Isn't this a modified version of eUTXO [1]? Known initial state/datum, transactions can be simulated/commited without needing global input like the account model needs.
The tradeoff is, of course, that scripts become much harder to implement, as you can't depend on global state.
The tradeoff is, of course, that scripts become much harder to implement, as you can't depend on global state.
[1]: https://iohk.io/en/research/library/papers/the-extended-utxo...