This is NOT a new alt-currency !-----BEGIN TIMESTAMPED TEXT-----
Bitcoin let us imagine a world without banks.
Now, imagine a world without notaries and without public Records.Here we are.Bytestamp (The Internet Timestamp Service) is a timestamp service not based on trust by which can be timestamped any electronic document. It is based on Datacoin, a Bitcoin alternative criptocurrency. The hash of the file, that is unique for each file, is recorded in the Datacoin blockchain and then shared in the miners peer-to-peer network. So, it also go under the Proof of Work. For further explanation, read the
FAQWhat is Bytestamp?
Bytestamp is an Internet Timestamp Service. It can be used to put a timestamp on a file not based on trust.
Bytestamp is based on a blockchain similar to Bitcoin's one, but of another crypto-curreny, called DataCoin.
Datacoin has a unique feature: it permits to record different types of data into its blockchain.
So, it can be used in order to put timestamps on files.
How does ByteStamp work?
Each time a document is uploaded, it is processed by an hash function that outputs its digest. Each file has its own digest and from the digest you cannot go back to the corresponding file.
This digest (and not the file) is recorded in the Datacoin blockchain and than confirmed by miners together the transaction. Because the digest is subjected to the proof of work, than at that time the digest had to exist. But, because that digest can be generated only by one file, the file's owner can prove that he/she made it before that date/time.
This is a timestamp system not based on trust.
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The file is timestamped at UTC Date/Time:
2014-09-13 17:01:06 UTC
with 8 confirmations in block number
492070 - ID transaction:
ceb4b1d339d27d883d252a801fef8afd6194baee46cffb6ddc278360440ad5bdinfo We also have the first
Datacoin block explorer
