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DevDocs: Block Chain: The important part is ordering, not timestamping

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Luke Dashjr 2014-10-01 19:41:38 +00:00
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_includes/guide_block_chain.md
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The block chain provides Bitcoin's public ledger, a timestamped record The block chain provides Bitcoin's public ledger, an ordered and timestamped record
of all confirmed transactions. This system is used to protect against double spending of transactions. This system is used to protect against double spending
and modification of previous transaction records, using proof of and modification of previous transaction records, using proof of
work verified by the peer-to-peer network to maintain a global consensus. work verified by the peer-to-peer network to maintain a global consensus.