Developer verification (PoD) is a mechanism aimed at establishing a connection between a blockchain project and its actual creators. This process is intended to prevent situations where unscrupulous individuals can take over the project, especially its financial component, without delivering the promised product to investors. PoD is often used in projects related to digital assets.
The emergence of PoD dates back to 2014, when cryptocurrency investors suffered significant losses due to price manipulation. In the ecosystem of digital currencies, situations often arose where coin developers or unscrupulous investors artificially inflated the value of assets. After achieving high returns, they would abruptly sell off their positions, leading to price crashes and losses for other market participants.
The verification of developers became relevant during the rise in popularity of initial coin offerings (ICO). Some ICO organizers aimed to deceive trusting investors. PoD allows potential investors not to be limited to attractive ROI figures, but to ensure the real existence of the project development team.
Moreover, the developer verification process helps to identify cases where unscrupulous individuals copy existing cryptocurrency code and present it as their own original development with the aim of attracting investments.
The PoD system includes the collection and storage of data such as developers' names, their countries of residence, links to social media profiles, and personal email addresses. In addition, the process involves verifying the provided information, assessing the developers' level of education, and analyzing their activity on the GitHub platform.
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Developer verification (PoD) is a mechanism aimed at establishing a connection between a blockchain project and its actual creators. This process is intended to prevent situations where unscrupulous individuals can take over the project, especially its financial component, without delivering the promised product to investors. PoD is often used in projects related to digital assets.
The emergence of PoD dates back to 2014, when cryptocurrency investors suffered significant losses due to price manipulation. In the ecosystem of digital currencies, situations often arose where coin developers or unscrupulous investors artificially inflated the value of assets. After achieving high returns, they would abruptly sell off their positions, leading to price crashes and losses for other market participants.
The verification of developers became relevant during the rise in popularity of initial coin offerings (ICO). Some ICO organizers aimed to deceive trusting investors. PoD allows potential investors not to be limited to attractive ROI figures, but to ensure the real existence of the project development team.
Moreover, the developer verification process helps to identify cases where unscrupulous individuals copy existing cryptocurrency code and present it as their own original development with the aim of attracting investments.
The PoD system includes the collection and storage of data such as developers' names, their countries of residence, links to social media profiles, and personal email addresses. In addition, the process involves verifying the provided information, assessing the developers' level of education, and analyzing their activity on the GitHub platform.