Bitcoin Forum
December 11, 2017, 06:17:51 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Is there any value in bitcoin timestamp?  (Read 319 times)
hl5460
Legendary
*
Offline Offline

Activity: 1585


news.8btc.com


View Profile WWW
January 16, 2017, 07:10:55 AM
 #1

Each block contains a Unix time timestamp. In addition to serving as a source of variation for the block hash, they also make it more difficult for an adversary to manipulate the block chain.

A timestamp is accepted as valid if it is greater than the median timestamp of previous 11 blocks, and less than the network-adjusted time + 2 hours. "Network-adjusted time" is the median of the timestamps returned by all nodes connected to you. As a result, block timestamps are not exactly accurate, and they do not even need to be in order. Block times are accurate only to within an hour or two.

Whenever a node connects to another node, it gets a UTC timestamp from it, and stores its offset from node-local UTC. The network-adjusted time is then the node-local UTC plus the median offset from all connected nodes. Network time is never adjusted more than 70 minutes from local system time, however.

Bitcoin uses an unsigned integer for the timestamp, so the year 2038 problem is delayed for another 68 years.

https://en.bitcoin.it/wiki/Block_timestamp

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!