Our solutions are built on blockchain technology and the principles of Distributed Ledger Technology (DLT).
At the same time as we invent new solutions we adhere to technology standards if they exist (as we are frontrunners that is sometimes not possible). We have approved patents in Sweden and in USA and four approved world PCT patents now pending in Sweden, US and EU.
Enigio Time's solution is based on blockchain and distributed ledger technology (DLT) and we have introduced the term Blockchain Aggregator in order to explain what we do.
Bitcoin is currently the best known blockchain implementation, and it is therefore natural to use it as one of our referenced blockchains when implementing our time:stamp solutions.
To further enhance our time:stamp and provide a robust qualified timestamp service over time we do not want to rely on Bitcoin alone as that would introduce drawbacks. Therefore we have created our own blockchain where we aggregate our references to other blockchains like Bitcoin and published data, as well as using our own patent time:beat where we introduce real world references into our blockchain.
As a Blockchain Aggregator, adding multiple references into one new chain, we can truly say that our time:stamp implementation will stand the test of time. A digital verification entered into our blockchain or linked-scheme, is rock-solid and impossible to manipulate.
By using a Blockchain Aggregator as our service you also get an easy-to-use API which abstracts away the complexity of e.g. making publications directly into Bitcoin at the same time as you get more references than Bitcoin alone.
Easy and low cost access to the advantages of using Bitcoin as a tamperproof ledger.
More redundancy - several channels and references
More convenience - easier than to build an own blockchain publication service ”in-house”
Higher Granularity - the proof can be more precise
Powerful traceability - easier to verify proof
Monitoring - continuously validating the chain of proof and alert if integrity is compromised
Speed - transaction speed and finalisation is not limited by speed of Bitcoin or Ethereum.
Model is not as energy demanding as not proof of work and mining based
Tech building blocks
One way functions - Cryptographic hash-codes (SHA-256)
- non-reversibility, traceability and compactness
Private and public key-pair
- to define and verify ownership
Distributed Ledger Technology
- a public blockchained ledger to create consensus for events
Ricardian & Smart contracts
- to describe the digital agreement and its rules