Proof-of-Developer: Ensuring Authenticity in Crypto Projects
Proof-of-Developer (PoD) is any verification that proves the existence of a real, live cryptocurrency software developer. To prevent an anonymous user from getting away with it.
What is a Proof-of-Developer (PoD)?
PoD is a procedure that establishes a relationship between a blockchain project and an actual developer or programmer. With this process, fraudsters cannot get hold of the project and financing without providing the final product to investors.Proof-of-development is widespread in cryptocurrency projects.
PoD was created in 2014, at a time when the crypto industry was suffering losses. During that period, scenarios where coin developers or malicious investors artificially inflate prices spread in digital currencies. When their assets make good profits, they “dump” or sell them, causing the price to drop and other investors to lose money.
The Proof of Developer project was started at a time when initial coin offerings (ICOs) were picking up steam. Several ICO issuers were trying to defraud unsuspecting investors. Project Pod gives investors the opportunity to go beyond ROI numbers to see if there are live and real developers in the ICO project.
Developer confirmation will help you identify those people who simply copy other cryptocurrency codes and pass them off as their own original projects to attract investment.