Proof-of-Developer (PoD)
By CoinGecko | Updated on Mar 03, 2020
Proof of Developer was a mechanism that was spearhaeded back in 2014 as a means for cryptocurrency and ICO projects to verify that they are actively managed by a developer(s). This concept was created at a time when issues of pump and dump altcoins and ICOs were rampant. Where scammers were reportedly copy pasting codes from existing cryptocurrencies to market and sell for quick profits.
Related Terms
Externally Owned Accounts (EOA)
Externally owned accounts (EOAs) are accounts that are controlled by a private key and have no coding associated with them.
Consensus
Consensus is achieved in a blockchain system when all participants agree on the content of the next block that will be added onto the blockchain.
Block Confirmation
Refers to the number of confirmation a particular block has. Each block ahead of the referenced block adds one block confirmation to it.
Graphical Processing Unit (GPU)
They are chips dedicated to graphics processing or floating point operations, allowing to lighten the workload of the processors during applications usage such as video games.
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