Timestamps are checked and enforced by notary services. As the participants in a notary service will themselves not have precisely aligned clocks, whether a transaction is considered valid or not at the moment it is submitted to a notary may be unpredictable if submission occurs right on a boundary of the given window. However, from the perspective of all other observers the notary’s signature is decisive: if the signature is present, the transaction is assumed to have occurred within that time.
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- (no access) - corda-technical-whitepaper.pdf, p17
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