But if I look at some transactions at blockchain.info I clearly see date and time. Is this done outside the blockchain and only on their website?
Correct.
So basically there is no accurate timeline built into the blockchain is what you say.
Correct.
The blockchain provides an accurate ordering of transactions (transaction A occurred before transaction B), but it does not provide an accurate time of when those transactions occurred. The reason that a timestamp is included in the block is so that once every 2016 blocks the software can check and see if it took more time or less time than 20160 minutes (that's 336 hours) for those blocks to occur. If it took more time, then the blocks are too slow and difficulty is decreased. If it took less time, then blocks are too fast and difficulty is increased. That's it. The timestamps don't serve any other purpose. Since the time per block is being averaged over approximately 336 hours, a couple of hours for any given block isn't very significant, and if coincidence results in many more blocks drifting in one direction than the other the only effect is to cause the difficulty for the next 2016 blocks to be slightly higher or slightly lower than it should be. It will correct itself the next adjustment.
I think it would fit my purpose if the drift is less than an hour.
You mentioned earlier that you didn't mean that live video has to be proven live, but unless at least one timestamp can be proven to be tied to some trusted live event, the video could be edited first and then timestamped.
Example:
- We invent some new blockchain system that provides a trustworthy public timestamp every second and allows us to add hashes to the blocks
- I record some video over the next 20 minutes at 24 frames per second.
- I spend the next 24 hours editing and altering the video
- At this time tomorrow (after I'm all done modifying the video) I start adding hashes of every 24th frame to the blockchain.
- Anyone that checks the blockchain will find that from start frame to end frame there is a hash in the block chain every second.
Accurate timestamps aren't very important to the operation of bitcoin. The purpose of the blockchain is to prove that transactions occurred and to provide an ordering of the transactions, not to provide a time that they occurred.
By most of those that are familiar with the technical details of bitcoins it is well understood that block timestamps can only be assumed to be within a few hours of the block.
I now understand that although the blockchain provides an unchangeable history of events, these event cannot follow each other too quickly.
Adjustment of the difficulty would be most accurate time-stamp moment I guess.
I assume that sidechains would also not be suitable for this feature since they would be pegged to the blockchain anyway (with its limits)
To 'solve' this you would probably need an alt coin with much faster blocks or difficulty adjustments or something else built into it.
Thank you for your detailed answer on my questions.