The tech giant, Apple, has recently found submitting a new patent, which uses the Blockchain potential system for the creation and verification of time stamps.
It is based upon the public app to Trademark Office and US Patent, where the Blockchain tech was being used to certify timestamps as a software package, which was combined with PKI (Public Key Infrastructure) tools.
The company’s application has described three prospect methods for creating time stamps, with one potential scenario being revolving around the Blockchain technology. A use case is in question, where the data storage needs tying a specific piece of information to a transaction on Blockchain. This leads to the establishment of a state of that data at a specific point of time.
This program will generate a block, consisting a timestamp, with each block being supplemented as miners verify every transaction being led on the chain. Apple calls this part of the system “multi-check architecture”, meaning that a different system will confirm the timestamp once the block has been generated, but ultimately before it is added to the chain.
Like every other established institute, Apple also believes in the power and potential that the Blockchain technology brings with it.
Apple has seen the advantages in how the transactions are handled, approved and verified by accord among the participating members in the network, thus reducing the possibility of a fraud.
The technology works upon a distributed format, rather than a centralized platform, which each of the participant having access to the same records, allowing the participants to enter and leave according to their own will, which provides resilience against attacks.
According to the software, using a decentralised format in order to store time stamps particularly has two advantages. It can thrust the time needed to maintain permanent nodes, and can also provide protections from corruption if a single node is attacked by malicious programs.