The word Timechain can be used to refer to the nature of the Bitcoin Block chain as a chain of timestamped events in history. Transactions themselves do not have a timestamp component and as such are attributed with the timestamp of the Block they end up being included in. It is possible to include more accurate timestamp information in a Bitcoin transaction as part of an Application layer protocol however this must be done with the explicit intent of a secondary system existing that can interpret the time in the format used in the transaction payload.


« Back to Glossary Index

Written by Ramon Quesada

Passionate about Blockchain & Bitcoin technology since 2013, Co- Founder of https://avalbit.org, Team Manager in the CoinTelegraph Spain franchise (2016-2017 years) Co. Organizer of the Blockchain Boot camp Valencia 2018, Co. Organizer of the mini Hackathon BitcoinSV Barcelona, in August 2019, current coordinator of the BSV Valencia Meetup. https://telegra.ph/Ramon-Quesada---Links-01-10

Miner Use Case

Transaction Pools – Mempool