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Cryptolinks - Best Cryptocurrency Websites & Bitcoin Sites List of 2021!

by Nate Urbas

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OpenTimestamps is a tool that enables users to create timestamps and to verify them. Timestamps prove some data existed prior to a point in time. Users can create timestamps in permissionless blockchain systems such as Bitcoin and Ethereum but it requires paying the network fee. OpenTimestamps solution to this is using a calendar server which is free to set-up. Users can verify timestamps on the OpenTimestamps website by dragging and dropping a file.

OpenTimestamps has a number of open-source repositories on their GitHub page. The repositories include libraries for Python, Rust, JavaScript, and Java. Key repositories include the client tool and a calendar server. The client tool performs stamping of files through a calendar server and the calendar server receives timestamping requests from the client. These two repositories work together.

Users can also sign up to a mailing list to keep up-to-date with announcements. Companies currently using OpenTimestamps include Eternity Wall, Signatura, and Cerved. For example, Eternity Wall's service enables users to write eternal, uncensorable and timestamped messages. The timestamped property is where the use case for OpenTimestamps come in.

Pros & Cons
  • Useful and free resource for users that want timestamped data as part of their project
  • Assists users in avoiding paying network fees for timestamps in a permissionless blockchain
  • Open-source
  • Users can verify timestamps
  • The tool has limited appeal as timestamps will not be a key part of most projects