28 Feb '16, 12pm

#Bitcoin as an Universal Crypto-Clock

In order for independent chains to securely trade with each other, all chains must be secure. The problem with smaller coins and any asset specific chain is it security. The following is the first half of the solution that enables weaker chains to inherit some of BTC's security. From Satoshi's paper: 3. Timestamp Server The solution we propose begins with a timestamp server. A timestamp server works by taking a hash of a block of items to be timestamped and widely publishing the hash, such as in a newspaper or Usenet post [2-5]. The timestamp proves that the data must have existed at the time, obviously, in order to get into the hash. Each timestamp includes the previous timestamp in its hash, forming a chain, with each additional timestamp reinforcing the ones before it. ### It is the timestamp server that enables the rest of bitcoin to work and without a timestamp server...

Full article: https://bitcointalk.org/index.php?topic=1372879.msg140348...

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