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Blockchain Proof-of-Work Is a Decentralized Clock
- gjvc 6y agoIndeed, in the original bitcoin whitepaper [1], section 3 introduces the notion of "Timestamp server". The primary purpose of a universal ledger (for the purposes of accounting) is to record the correct ordering of events, not their timestamps. This, I believe, is what is meant by the notion of "timestamp" in "timestamp server" in the paper -- it might have been less clear had it been called "event ordering server". [1] http://www.bitcoin.org/bitcoin.pdf http://www.bitcoin.org/bitcoin.pdf