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Folks Ed: What is Data Anchoring

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In the simplest terms, data anchoring is a timestamp created using blockchain technology. This timestamp, while similar to the one you would see on a photograph, is slightly more complex than ones created without utilizing a blockchain. Data anchoring creates a record of when a digital asset (a post, a photo, a string of text, etc) is anchored to the blockchain. The record created has a few key qualities:

• It is neutral – one entity does not have the ability to control all the data.

• It is tamper-proof – because the data on a blockchain is stored across all users the anchor for your data is stored in multiple places so it can not be tampered with.

• It is immutable – once a record is created it can not be altered, a new record can be created but the old record will remain intact.

• It is censor resistant. – because of the decentralized nature of blockchain, it is censor resistant.

Now that you understand a bit about what data anchoring does, I’m sure you’re wondering how it works. Each post that you choose to anchor is taken from Folkspaper’s data storage where it is assigned a unique ID and is given a digital fingerprint or Hash (a hash is a unique string of characters linked to a digital asset). This hash (along with any premium signature data) is added to the Ethereum blockchain creating a digital record that will last indefinitely.

The record left by data anchoring can become your insurance policy as a content creator. It creates an unquestionable record of who created something and when; letting you share your content without the fear of losing control over the rights to it.