Thank you, thank you, thank you Satoshi Nakamoto, for the Bitcoin clock that is neither too fast nor too slow. 🙏😇
The payee needs proof that at the time of each transaction, the majority of nodes agreed it was the first received. When there are multiple double-spent versions of the same transaction, one and only one will become valid. The receiver of a payment must wait an hour or so before believing that it’s valid. The network will resolve any possible double-spend races by then. Satoshi Nakamoto (2009)