We believe that blockchain should be easy to use. For anyone. And the verification of blockchain timestamps should be easy. With OP_RETURN, which OriginStamp will use after February 15th, 2021, we’re greatly improving the usability of blockchain timestamping. So, what is OP_RETURN?
What is OP_RETURN?
Strictly speaking, OP_RETURN is a script opcode. However, as long as you’re not super technical but want to practically use blockchain timestamping, that doesn’t matter. What matters is improved usability. OP_RETURN makes the verification of OriginStamp timestamps for the Bitcoin blockchain much, much easier.
Without OP_RETURN, a complicated calculation is necessary to verify Bitcoin timestamps. After switching to OP_RETURN, a user can simply lookup OP_RETURN values for a given transaction hash. Many blockchain explorers display the output of OP_RETURN values. Smartbit is one of these blockchain explorers that support OP_RETURN. https://www.smartbit.com.au/tx/7e92e90f221ad28daf42b5b8bda4c8e244e37af48527fcd12b2518db5d3315bd
Verifying an OriginStamp Bitcoin timestamp is now a simple 3-step process:
- Download the OriginStamp timestamp certificate for your document.
- Use the certificate to verify that the hash of your document is represented by the root hash stated in the certificate.
- Use the transaction hash given in the certificate and OP_RETURN to verify that the root hash was embedded into the Bitcoin blockchain at the time of the timestamp.
Please find all the details in our documentation.
Why should you use OriginStamp?
One of the primary reasons why many people rely on OriginStamp is because they need to protect sensitive documents. Documents of great importance. A contract, a birth certificate, research data, accounting documents, incident reports, and much more.
An independent proof for your documents
OriginStamp creates independent proof that your document existed at a certain time and hasn’t been manipulated since then. Independent is key here. It means that, once you’ve created a timestamp using OriginStamp, you can verify your timestamps without OriginStamp. That’s what’s made possible thanks to blockchain technology. If you use a classic timestamping authority, you’re dependent on this authority. If you use your friend as a witness, you’re dependent on your friend. But with OriginStamp, no matter what happens, you have independent proof.
A USP for your business
Many business owners who operate on the internet rely on OriginStamp to build trust with their clients. On the internet, people are suspicious. Especially if they are buying something from someone they have never heard of before. What if you could build trust by timestamping product reviews, shipping orders, support tickets, warranty claims, and much more? With OriginStamp you can. And it can be fully automated.
Protection of your intellectual property
Inventors and R&D departments can equally benefit from OriginStamp. Often it is crucial to know who made which invention at what point in time. When the invention was put into operation. And who contributed which part. For each step in the process, you can create a brief document, and then timestamp that document. You’ll then have independent proof of each step in the process.
Mitigation of data manipulation risks
For many businesses, there is a data manipulation risk. What happens if the database of a bank is tampered with? Of an invoice trading platform? Of an e-learning platform? There are many businesses like this out there. A fair amount of them already relies on OriginStamp in the backend. Our service helps in reliably detecting the manipulation of any kind of data. If a data point doesn’t have a valid timestamp, that’s a warning sign. And to quickly react to that warning sign can make or break a business.
The editorial content of OriginStamp AG does not constitute a recommendation for investment or purchase advice. In principle, an investment can also lead to a total loss. Therefore, please seek advice before making an investment decision.