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
Centralized
An organization structure wherein a small handful of actors have control over the entire network.
Utility Token
cryptocurrency tokens with specific utilities on a network besides being used as medium of exchange and investment vehicle.
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A form of digital currency that utilizes cryptographic protocols to record ownership and prevent counterfeiting
Sim Swapping
It is a tactic where hacker overtake the mobile phone to exploit the two-factor authentication and two-step verification.
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