Meaning
A record of a specific piece of data is placed on a public database to prove it existed at a certain time. Public timestamping uses decentralized networks to create a witness that no single person can control or alter. It stops being a proof if the underlying network loses its integrity or consensus.
Temporal Proof
Evidence of the exact hour and day a document was created is fixed in the history of the blockchain. While public timestamping does not prove the truth of the content, it proves the content has not changed since the stamp was applied. This is the primary defense against the backdating of evidence.
External Validation
Trust is shifted from a central authority to a distributed network of thousands of computers. Public timestamping allows anyone to verify the age of a record without needing to ask for permission from the owner. It provides a level of transparency that is impossible with private files.
Algorithmic Difficulty
Hardness of the math makes it nearly impossible to change a record once it has been buried under a certain number of new blocks. The public timestamping of a founding document ensures that the original terms are preserved for the life of the venture. It costs a small transaction fee but saves thousands in future legal fees.
The stamp is the mark of the time.
