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
Altcoin
Coins althernative to Bitcoin
Pay-Per-Share (PPS)
You are compensated for each valid share that you contribute. Each share is worth a set amount of cryptocurrency that may be mined.
Blockchain
In Bitcoin's case, blockchain describes its decentralized, public ledger which contains transactional information.
KYC (Know Your Customer)
KYC stands for "Know Your Customer", a process for business entities are required to verify its clients and assessing them.
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