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UTC Time

UTC stands for Coordinated Universal Time. It is a standard time reference used as a basis for international timekeeping and is widely used in computer systems, communications networks, and other technologies.

UTC is based on atomic clocks and is kept very precise, with leap seconds added periodically to keep it in sync with the Earth’s rotation.

UTC is not affected by time zones, so it is widely used as the standard time reference for cryptocurrencies. Many transactions and activities on the blockchain are recorded with timestamps based on UTC, which ensures that all parties involved use the same time reference regardless of location.