Timestamp is series of encoded information about different events. It helps verifying which event happens when by giving the occurring time of the event. In blockchain timestamps shows when different events on blockchain happened. It keeps record of all the changes. The most interesting thing is on blockchain timestamp cannot be tempered.
Each transaction is recorded and timestamped in blockchain. Tempering one will fail the sequence. Thus, the tempered one will be invalid. That's why it's temper proof. With help of timestamp feature we can use blockchain for protecting intellectual property too. Let's say you have researched on something and wrote a paper. Now you want show it to some expert for review. But you're afraid that your work can be stolen. Then you can timestamp that work on blockchain. Then you don't need to worry anymore because you can easily prove your ownership anytime.
Each transaction is recorded and timestamped in blockchain. Tempering one will fail the sequence. Thus, the tempered one will be invalid. That's why it's temper proof. With help of timestamp feature we can use blockchain for protecting intellectual property too. Let's say you have researched on something and wrote a paper. Now you want show it to some expert for review. But you're afraid that your work can be stolen. Then you can timestamp that work on blockchain. Then you don't need to worry anymore because you can easily prove your ownership anytime.
What are they used for?
