Not only does Indelible.ink have a catchy name, but it claims to be the easiest way to embed up to 80 characters of plain text directly into the Bitcoin blockchain.
Once you sign in, and confirm your email address, the first tweet is free.
Data is relayed to the blockchain within 5 minutes – no need for complicated custom transaction protocols or APIs. Each tweet is permanently stored within a single transaction.
According to the website:
How does it work? What is our “secret sauce”? We are running a full network node which, along with custom programming and systems administration, allows us to embed so-called arbitrary data into the OP_RETURN field of transactions. But that’s probably more than you need to know. As the Wizard of Oz said to Dorothy, Scarecrow and the gang, “Pay no attention to the man behind the curtain.”
So, the algorithm does rely on Bitcoin’s OP_RETURN field. Also, as with any legitimate transaction, incentives go to the miners who are willing to include the transaction within a block.
After tweeting, users get a Blockchain Receipt – documentary proof of the embedded data contents and offering a few links to suggested blockchain explorers (currently SoChain, Blocktrail and Smartbit) where the transaction can be looked up instantly for third-party verification.
But this new project is significantly different from earlier ones because it does not attempt to display a running list of messages received from all users. The data remains visible to family, friends and colleagues who can be pointed to specific recorded transactions very easily – as well as anyone from the general public who might feel inclined to sift through the details of the entire blockchain.
Indelible.ink was launched by web developer and notary expert, Steven Williams.