Achieving reliable timestamp in the bitcoin platform

【Author】 Ma, Guangkai; Ge, Chunpeng; Zhou, Lu

【Source】PEER-TO-PEER NETWORKING AND APPLICATIONS

【影响因子】3.488

【Abstract】Blockchain, the underlying technology of the Bitcoin cryptocurrency, is an innovation of information technology. The blockchain technology has been widely applied in the evidence storage scenarios to prove that an event occurred at a certain time due to its publicity and immutability. However, the timestamp of a block in the blockchain is introduced by the blockchain node and can be manipulated in hours. This will either lead the failure of the evidence storage system built on top of the blockchain platform or increase the risk of double spending of the blockchain platform itself. In this paper, we introduced an optimized blockchain timestamp mechanism. We narrow the range of the timestamp in a block to an average of ten minutes by leveraging an outside trust timestamp service to the blockchain consensus. Finally, we present a security analysis of the proposed scheme.

【Keywords】Blockchain; Bitcoin; Timestamp service; Time-jacking

【发表时间】2020 NOV

【收录时间】2022-01-02

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