Do I have it right that it’s basically timestamp based, except not based on our clocks but one it manages itself? So as long as all updates have been sent to t

Do I have it right that it’s basically timestamp based, except not based on our clocks but one it manages itself? So as long as all updates have been sent to the server from all clients, it will know what “time” each character changed and be able to merge automatically. Is that it basically?