The world’s oldest blockchain worked with ads in the New York Times


The world’s oldest blockchain worked with ads in the New York Times

The technology of the blockchain is older than commonly believed. Publishing of BTC Manager drew attention to perhaps the oldest in the world the blockchain, which worked very trivial way — by using a section of ads in the New York Times.

The main characteristic of the blockchain — the ability to make an immutable entry in a large network, has a revolutionary significance, because any commercial activity involves the transfer of assets within a particular system. Moreover, using the blockchain to store information about any phenomenon — from cryptocurrency to cryptococal.

The inventors of the technology has become Stuart Hebert and Scott Stornetta in 1991. However, at that time the blockchain was not a global computing platform, as in our days. It was a just a sequence of hashed data. The creators considered the technology as an opportunity to put on digital document time-stamp confirming their authenticity, which is critical in the development of the intellectual property or the collection of signatures in the digital sphere.

This model is similar to the situation when the user sends a document in a sealed envelope or makes notes in the notebook in chronological order. In the real world there are numerous ways to establish if the document was modified, but check the originality of digital documents is much harder.

The decision, which found Haber and Stornetta, was the fact that a digital document cannot be changed without changing its hash. Similarly, the attacker can not change the time stamp.

Haber and Stornetta realized that the best method of authentication of digital documents is to send them through a hashing algorithm that creates a unique ID. If the document is changing and ID hash. Thus was created the de facto service notarization. Binding information to digital hashes means that changing data can see the whole network.

In 1994, two cryptographers launched a preview version of the blockchain called the Surety.

Product based on was named Surety AbsoluteProof — it is cryptographically marked and sealed digital documents. The documents were sent to the server Surety and AbsoluteProof has created for them the hash and put a timestamp.

A copy of all seals created by the AbsoluteProof will be updated in “universal registration database”. Thus carried a permanent record of all labels generated Surety. But how was it possible to trust the internal system audits?

To solve the problem of trust, Surety created the hash values for all stamps added to the database each week. Then weekly values published in the ruble ad New York Times. The publication made it impossible to change timestamps retroactively for any user, including the company.

Before the invention of cloud storage and global distribution of the Internet it was a natural way of solving problems inherent to the forwarding process digital documents.

According to the materials of the BTC Manager

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.