We describe a method for estimating rate constants of a two-state Markov sy
stem from data obtained by a single-molecule (SM) type of experiment corrup
ted by white noise. The method is effective even when the characteristic (o
r resolution) time of the measurement is much longer than a characteristic
time of the two-state system, and the data are uncorrelated. We apply our s
uggested method to data from an SM:experiment on the transport of sugar mol
ecules through cell membrane channels. The method is quite accurate in anal
yzing this set of data. We also demonstrate that in some cases the method c
an be used to check whether the system is Markovian or not.