Saving diskspace in bitcoin with a sort of snapshot of the blockchain


I am reading that some people try to save diskspace in what information is stored in the blockchain. I am wondering if it is possible to save such a diskspace in taking a sort of snapshot of the blockchain where only all the wallets and their worth in BTC at time T_0 is saved, rather than their full transaction history. We would save the blockchain up to time T_0 in some archive and move on with the snapshot as a starting point for the next blocks, and repeat this process so that the current blockchain never takes too much diskspace.

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