An Ephemeral BitDB for Dealing with Time
- A Timestamp for Every Transaction: Every transaction has a timestamp of when they were discovered (not when they were mined into a block)
- Even Mempool: Even Mempool transactions have a timestamp (This is not the case for other BitDB nodes)
- Ephemeral: 24 hour sliding window of transaction storage
- One collection: All transactions stored in a single chronological collection, regardless of confirmed or unconfirmed.
- Dynamic attribute: Has a dynamically computed virtual attribute named
Chronos was designed for dealing with time, which used to be impossible with existing BitDBs.
To understand why this has been impossible, we must first understand how the existing system works. Let’s take a look at how the concept of “Time” works in Bitcoin land.
How Time Flows in Bitcoin Wonderland
Think of Bitcoin as a parallel universe. In this Bitcoin world, time flows differently than the outside world we live in. So if Alice wants to visit this Bitcoin wonderland, she’d better be very conscious about the rules. Otherwise she may face a totally unexpected reality when she comes back to her real world.