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
Central Bank Digital Currency (CBDC)
It is a digital fiat currency issued by the central banks, contrary to cryptocurrency that issued by non-legislative party.
Gas
A unit of measurement of the computational effort in conducting transactions or smart contracts on Ethereum blockchain.
Mining Pool
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks.
Pump and Dump Scheme
A market manipulation method to drive up the price of an asset before profiting by driving it back down.
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