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Dec 10, 2017
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The US electronics giant Apple might be slanting toward the blockchain technology if its recent patent application is anything to go by.
Timestamps verification
According to the details of the application available from the US Department of Patent and Trademark, Apple is considering adopting the blockchain network to create and verify timestamps. The tech giant seeks to implement a program within its prospective system, which will certify timestamps using a combination of blockchain technology and Public Key Infrastructure (PKI) tools.
The use case aims at connecting a piece of information to a specific transaction on the blockchain, a step that will establish the status of the information at a particular time. If that piece of information is changed, then the system will create additional transactions to provide more data on the changes made. Based on the details of the application, Apple intends to implement three potential methods for instituting timestamps, with one of the developments slanting toward the blockchain network.
Ultimate data security
The program will create a block having a timestamp. It will add each successive block as miners evaluate each transaction conducted on the network. Apple defines the program as part of a “multi-check architecture,” which implies that another system will verify the timestamp when a block is created but before it is added to the network.
According to the application, Apple is confident that due to the decentralized security features of the blockchain, it would provide the best fit for the program.
The document states:
“If any party attempts to alter a node sometime earlier in the blockchain, each hash puzzle solution for block subsequent to the altered block becomes broken or incorrect. Each participant can see that such a broken blockchain does not agree with their own copy of the blockchain. The broken blockchain is thus not recognized by the nodes.”
By using a decentralized ledger for timestamp storage, Apple seeks to derive two major benefits. One, the program will help maintain proper time permanently and second, it will protect the network from corruption, especially if malicious actors compromise a single node.
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