State Encoding techniques that we have ...?

ONE HOT ENCODING
In one-hot encoding, only one bit of the state vector is asserted for any given state.All other state bits are zero. So if there are n states, then n state flip-flops are required.State decode is simplified, since the state bits themselves can be used directly to indicate whether the machine is in a particular state. No additional logic is required.

* A highly encoded machine may slow dramatically as more states are added.
* one design may no longer be best if you add a few states and change some others.
One-hot is equally “optimal” for all machines.
* One-hot state machines are typically faster. Speed is independent of the number of
states, and instead depends only on the number of transitions into a particular
state.
* One-hot machines are easy to design. HDL code can be written directly from the
state diagram without coding a state table.
* Modifications are straightforward. Adding and deleting states, or changing
excitation equations, can be implemented easily without affecting the rest of the
machine.
* There is typically not much area penalty over highly encoded machines.
* Critical paths are easy to find using static timing analysis.
* It is easy to debug.

BINARY ENCODING