Is the above accurate?When a virtual disk is first created for a new virtual machine, it is considered
as the base disk for the guest - data for the guest is read from and written to that disk image.
First SnapShot creates a differencing disk (diffDisk#1) for read/write access while the base disk becomes read-only - as the guest modifies its data, the data is written to the differencing disk and the base disk is untouched.
Second SnapShot creates another, new, differencing disk (diffDisk#2) for read/write access while the first differencing disk (diffDisk#1) becomes read-only along with the base disk.
Subsequent SnapShots create additional differencing disks, with the preceding differencing disk joining the hierarchy (pecking order/chain) of read-only disks.
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Edted to fix typos