Use of non-fungible tokens (NFT) in the format Artwork, avatars and in-game assets It has grown a lot in the last few years. But despite the numerous NFT projects, there are currently limited applications for these types of assets. However, one of the more practical use cases introduced during the 2019 ETHDenver event is the Proof of Attendance Protocol. Poop which has given NFTs a special application. In this article, we will introduce the POP algorithm and learn more about the features and benefits of this platform.
What is the proof of attendance protocol?
A proof-of-attendance protocol is issued to participants of an event, course, or activity in the form of a non-fungible NFT token. In fact, it is a token of appreciation for attending an online or physical event. Currently, the Popup algorithm has become a useful tool for crypto projects to recognize and support their active users and community members. Some examples of events that have used Poap include:
- EthGlobal
- Berlin Dappcon conference
- Paris Ethereum Forum Conference
Also the Metaverse project Discentral It regularly sends POAPs to its users to support them. In addition, several digital currency projects also use these tokens to interact with their community. DAOs like Sushi Swap And ShapeShift will distribute POAP tokens to AMA session participants and governance proposal voters.
Along with the crypto projects that have turned to popups, we should also consider big companies like Goldman Sachs, ebay online store, vogue magazine, T-Mobile and GitHub Cited.
It should be noted that all POAPs with standard ERC721 which are used for NFTs are issued. However, for that one NFT To be classified as a popup, it must meet a certain set of criteria. First, the presence proof protocol must be concluded through the official smart contract. Second, the time or date of the popup release will be recorded in the meta data (all information about the NFT token) and finally, all popups will have the same images.
In order to reduce transaction fees on the Ethereum mainnet, the POAP protocol in October 2020 was transferred to a much cheaper and faster Ethereum sidechain called Gnosis Chain was transferred Since Gnosis’ underlying architecture is compatible with Ethereum, collectors can transfer their tokens to the Ethereum mainnet if they pay gas fees.
Benefits and uses of PUP collection
Although collecting a pool of POAP tokens can help users create a decentralized identity, their holders can also enjoy financial benefits. Some cryptocurrency projects use NFTs to reward and build closer and longer-term relationships with active members of their community. For example, the Bankless DAO project sends a portion of its tokens to the wallets of users who own the platform’s popups. In fact, these users are included in receiving the airdrop of this project and are rewarded for their activity on this platform.
Of course, there are more specific applications for the presence proof protocol. Some projects consider POAPs as resumes and measure user activity records by these tokens. In the following, we will learn about other uses of the POAP protocol:
- Increased privacy: Due to the ongoing breaches of user data by tech giants like Meta and Google, privacy has become increasingly valuable around the world. The POAP protocol allows users to capture and store life’s moments without giving up their civil liberties. Despite the fact that some entities can still reverse-engineer IP addresses connected to public wallets, at least a POAP token alone does not reveal any sensitive personal information.
- Ownership of rare assets: Popups can gain value by being associated with historical events and cultural milestones. In the context of the metaverse, POAPs associated with underlying technologies such as Ethereum and its early on-premise events can become valuable assets.
How to get proof of presence protocol tokens
Getting Poap tokens is a simple process. According to the information provided on the official Poap website, receiving these tokens can be done in the following ways:
- Collective delivery: If people have entered their Ethereum wallet address when signing up, the Popup provider will Airdrop (automatically) these tokens to them.
- Manual download: A POAP issuer can scan your wallet’s QR code for physical events and send you a POAP token instantly.
- Receive via Dapp: Another way is for users to receive their token through a decentralized dapp application. In this method, the user receives the POAP token by scanning the QR code and entering the secret world or exclusive code.
Generally, users can scan a QR code or click a link on a web page that generates a POAP. Then they need to enter the Ethereum wallet address to receive the desired PUP. After receiving, these popups can be seen in the dedicated application of this platform and Metamask wallet.
Valuable popups or fleeting trends
Due to the ever-increasing growth of NFTs and the widespread adoption of digital currency users, there is more hope for projects that are supported by the elders of the crypto community. Proof of presence protocol will also have a bright future due to the efficiency and innovation of popups and Vitalik Buterin’s support. It is worth noting that Vitalik Buterin, one of the founders of Ethereum, has mentioned in tweets the prominent role of POAP in the crypto industry. In addition to this issue, it is also interesting to note that the proof of presence protocol has been widely adopted by official crypto projects and events. To the extent that a project like Project Galaxy uses the innovation of Poap to hold events and perform airdrops of other projects. It is expected that in the future, more platforms will use the POP algorithm and more applications will be created for these tokens.
What is the writing of the proof of attendance protocol? Introduction of POAP for the first time on Wallex blog. appeared.
