A timestamp is a crucial element that records the exact time when a transaction occurs. In blockchain technology, each transaction is time-stamped to maintain an accurate chronological order of events.When a transaction is made, it is grouped into a block along with other transactions. This block is then added to the existing chain, creating a permanent and transparent record. The timestamp ensures that all parties can see when a transaction took place, which helps in verifying the integrity and sequence of transactions.Having accurate timestamps also aids in resolving disputes. If there’s ever a question about the validity or sequence of a transaction, the timestamp serves as reliable evidence. Moreover, timestamps are essential for implementing features like time locks or smart contracts, where certain conditions need to be met based on timing.Overall, timestamps play a vital role in ensuring the reliability and security of transactions, contributing to trust within the network.