delvingbitcoin

Great Consensus Cleanup Revival

Great Consensus Cleanup Revival

Posted on: December 9, 2024 17:23 UTC

The discussion highlights a significant insight regarding the use of Median Time Past (MTP) in the context of Proof of Work (PoW) timestamps.

It is pointed out that MTP may not be considered a reliable mechanism for timestamping as some scripts might assume. This perspective is supported by Peter Todd's observation from 2016, emphasizing that MTP's reliability for such purposes is questionable. Consequently, OpenTimestamps, recognizing this limitation, does not rely on MTP for its operations. This information underlines the importance of choosing appropriate and dependable mechanisms for timestamping in blockchain and related technologies, ensuring accuracy and reliability in digital transactions and records.

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