CLOSE_WAIT indicates that the remote endpoint (other side of the connection) has closed the connection. TIME_WAIT indicates that local endpoint (this side) has closed the connection. The connection is being kept around so that any delayed packets can be matched to the connection and handled appropriately.
Capture all changes to an application state as a sequence of events.
We can query an application's state to find out the current state of the world, and this answers many questions. However there are times when we don't just want to see where we are, we also want to know how we got there.