Blockchain Timestamping and the OpenTimestamps Protocol

Flashcards about Blockchain Timestamping and the OpenTimestamps Protocol

Blockchain

A hash pointer linked list of blocks where new blocks can only be appended at the end, forming a history of transactions resilient to network attackers.

Mining Nodes

Provide the additional computational power required for transaction settlement in a blockchain.

Double Spending Problem

Solved by miners through economic incentives and proof-of-work, ensuring invalid transactions are rejected and rewards are lost.

Practical Byzantine Fault Tolerant (PBFT)

A distributed consensus achieved using game theory and economic incentives for mining nodes to be honest.

Timestamp

Demonstrates that a document existed in a specific status prior to a given point in time.

OpenTimestamps Standard

Defines a set of operations for creating provable blockchain timestamps and later independently verifying them.

Merkle Tree

A data structure used in OpenTimestamps to efficiently summarize large sets of data into one single hash, allowing aggregation of multiple documents before attestation.

Submission Receipt (.ots file)

An incomplete file obtained after submitting a document hash to OpenTimestamps servers, which can be upgraded to an attestation proof once the hash is included in the blockchain.

Attestation Proof Verification

Can be verified independently from any OpenTimestamps server or facility, using public Bitcoin block-explorers.

Digital Artifact Timestamping

Hardens business processes by ensuring security and providing a verifiable record of when a digital asset existed.

Data Hash

A unique identifier derived from data using a cryptographic hash function.

Hash Pointer

A hash that contains the hash of a previous block in the blockchain, thus creating a link between blocks.

Mining

The process by which new transactions are added to a blockchain. It involves solving complex computational problems.

Double Spending

The problem where the same digital currency can be spent more than once.

Data Hash

A unique identifier derived from data using a cryptographic hash function.

Hash Pointer

A hash that contains the hash of a previous block in the blockchain, thus creating a link between blocks.

Mining

The process by which new transactions are added to a blockchain. It involves solving complex computational problems.

Double Spending

The problem where the same digital currency can be spent more than once.

Digital Timestamping

The generation of a cryptographically secured, unique, and immutable identifier for digital content, providing evidence of its existence at a specific time.

Cryptographic Hash Function

A cryptographic method ensuring data integrity and authenticity by creating a unique "fingerprint" of the data.

Proof-of-Work (PoW)

A consensus mechanism that requires members of a network to expend effort solving a computational puzzle to prevent anyone from gaming the system.

Merkle Root

A file that stores a compact, tamper-evident summary (digest) of larger data.

Trustless System

A method of enabling trust in distributed systems and applications through cryptographic proofs and decentralization.

Nodes in a blockchain network that compete to validate transactions by solving complex