Formal diagonalization of the discrete Lax operators and construction of conserved densities and symmetries for dynamical systems

An alternative method of constructing the formal diagonalization for the discrete Lax operators is proposed which can be used to calculate conservation laws and in some cases generalized symmetries for discrete dynamical systems. Discrete potential KdV equation, lattice derivative nonlinear Schr\"odinger equation, dressing chain, Toda lattice are considered as illustrative examples. For the Toda lattice on a quad graph corresponding to the Lie algebra $A_1^{(1)}$ infinite series of conservation laws are described. Systems of quad graph equations are represented including lattice versions of the "matrix" NLS and "vector" derivative NLS equations.