Gravitational time dilation is a form of time dilation, an actual difference of elapsed time between two events, as measured by observers situated at varying distances from a gravitating mass. The lower the gravitational potential (the closer the clock is to the source of gravitation), the slower time passes, speeding up as the gravitational potential increases (the clock moving away from the source of gravitation). Albert Einstein originally predicted this in his theory of relativity, and it has since been confirmed by tests of general relativity.
This effect has been demonstrated by noting that atomic clocks at differing altitudes (and thus different gravitational potential) will eventually show different times. The effects detected in such Earth-bound experiments are extremely small, with differences being measured in nanoseconds. Relative to Earth's age in billions of years, Earth's core is in effect 2.5 years younger than its surface. Demonstrating larger effects would require measurements at greater distances from the Earth, or a larger gravitational source.