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
Distributed Ledger
Ledgers whose data is stored and synced across a network of nodes.
Multisignal (multi-signature)
They are wallets that require more than one key for transactions to be authorized.
Node
Within the blockchain network, the nodes are computers that connect to the network and have an updated copy of the blockchain
Impermanent Loss
Temporary loss of funds due to volatility leading to divergence in price between token pairs provided by liquidity providers.
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