Why use blockchain?
What makes the blockchain technology particularly useful?
Last updated
What makes the blockchain technology particularly useful?
Last updated
Blockchain technology is chosen for many reasons, but its key features of being unchangeable (immutable), open (transparent), and secure are the most important when it comes to timestamping. When you have a timestamp and you want to store it somewhere, it's crucial that it can't be messed with.
If you used a normal database, you'd have to trust the person who owns the database not to change anything. But with a blockchain, things are different - once something is recorded on the blockchain, it can't be changed. Every transaction is kept on the chain forever, and this includes timestamps.
Trust isn't the only reason why VIDT DAO uses blockchain technology for timestamping. Web3 offers a lot of advantages when it comes to integration. It's like open-source software, meaning anyone can easily add it to their existing systems without needing special customizations.
The way you interact with the blockchain, like getting a timestamp, is well-defined and the same for anyone who wants to integrate it. This means it's a very versatile and accessible technology for a variety of applications.
