🏅RECAP AMA EPID COMMUNITY x PRUF
🕖AMA Timing : 13th May 1PM UTC | 8 PM (GMT +7)
🏚Venue For AMA: @EPID_Community_VN
💰Reward Pool : 100$
➡️Part 1: Project Introduction.
Could you briefly introduce about yourselves as well as your project?
Hello everyone, my name is Clifford Smyth, and I am CEO and a lead dev at pruf.io. I've been building software for most of my life, and my work at PRüF is what I’m here to talk about today.
I've followed blockchain technology since bitcoin was still theoretical - the idea of Merkel tree ledgers is actually pretty old, but it was “Satoshi Nakamoto” that brought the incentives into line to make it happen.
Watching bitcoin develop changed my thinking on distributed systems because it showed that the alignment of incentives is the key.
Since then, I have incorporated that insight into much of my work, and it is a fundamental basis for everything we engineer at PRüF.
Now, as for PRUF....
At its core, PRüF is a privacy-first, chain agnostic, NFT based protocol for managing and verifying physical and digital items.
PRüF lets brands and PRüF Node holders create NFT assets based on digital or physical goods. PRüF assets feature permanent blockchain media and document storage, monetizable business logic, and an authentic, brand focused user experience.
Using the systems and business logic built into the protocol, PRüF assets can be used in escrows, collateralized loans, layaways, private sales, and much, much more, all without requiring the development of any contract code or complex WEB3 programming.
PRüF provides instant verification of ownership, authenticity, and item provenance to users. PRüF assets are designed to be what NFTs should have been from the start - durable, platform independent, functional, and self-contained.
Thats a pretty good description of the project, i think, but if anyone has any questions, you can message @exosequitur at t.me/pruftalk after the AMA and ill be glad to answer.
What makes the PRuF project stand out more than the projects in the same direction at the moment?
The key to our success in the space is that we are a protocol, not a platform. PRüF is multi-chain and is used to *BUILD* NFT Platforms for brands, creators, businesses, and organizations.
We don’t compete with NFT platforms in the same way that a concrete block company isn’t competing with homebuilders.
In the digital art and artifact NFT space, the PRüF protocol enhances, instead of competing with, NFT tokenization platforms.
As a protocol, PRüF can be utilized by NFT platforms to enhance their offerings and give their customers market leading, interchain operable functionality without the giant investment in technical work that that would normally entail.
We think its a win-win proposition that makes PRüF the natural choice for NFT platforms, brands, and content creators.
In the asset management and authentication space, PRüF offers a multitude of built in features, allowing platform operators to monetize the use and sale of their products, document and understand lifetime service stories, and to aid in discovery and market-making for their offerings.
At the same time, PRüF creates a touchstone for customers and even secondary market users to maintain contact with the manufacturer, creating opportunities for recurring brand education, accessory sales, and other value generating interactions.
the asset management and provenance space is a huge market, even though NFTs are all the hotness right now lol.
What are the memorable milestones of PRuF in the research and development process?
Looking back, we’ve actually accomplished an amazing amount of progress.
We've got all of the core contracts written and the first generation are audited.
We have an amazing application experience, designed both as a default interface to the protocol and an example for developers to use as a whitebox template.
We have an easy to use, well documented, and powerful library to facilitate developer integrations, and we have an amazing and vibrant community.
Our partnerships give us strong PR outreach, and we have projects underway with influential launch partners that will help to position PRüF as the premier solution for serious curation of digital art.
So far, we are on track with our roadmap, with our IDO coming up in just a few weeks, and we are making incredible progress every day.
Weve been building out PRüF for a little over a year now, and when I look bact to where we started from, its really quite amazing lol....weve taken PRüF from a vision of blockchain ownership to a complete system of asset management and curation, all completely original. Im really impressed with our team.
What does PRuF plan to do to attract more users in the upcoming time?
With diverse functionality in markets from product authenticity to NFT content and tokenized assets, PRuF onboards from many different sources.
As a platform for manufacturers, PRüF can onboard every purchase by tying product warranty and registration into our private-provenance model. For this we will leverage third generation blockchains with low costs and fast transactions.
For NFT platforms, we provide the tools for platform creators to easily and cost effectively build their brands and platforms. This will result in a wide onramp for users, onboarding from many different markets, from collectibles, to pop-media, even from fine art and photography.
Or, maybe to explain better, Because PRüF is a protocol, not a platform, we anticipate that many brands and creators will see PRüF as the natural choice to build on, since we make platform development simple and inexpensive while providing platforms with the tools to create their own unique branded experiences.
➡️Part 2: Question From Twitter (5 best questions).
With the overwhelming response of people with the prufteam ,what is the impacts that it brings to your platform? To investors,what they can look forward for them to trust you more for a long run?
For token holders, the PRüF utility asset has some outstanding value propositions. Not only is PRüF used to operate network functions, it is also burned in the buildout of the PRüF infrastructure when nodes are minted.
In addition to this, token holders use PRüF to stake on nodes for revenue sharing, and the staking creates a vote delegation mechanism for community governance.
Node holders that wish to retain more revenue or increase their voting power will stake on their own nodes, and we also anticipate the launching of special-interest political nodes which will accumulate voting share stakes as well.
all of these mechanisms are designed to increase token demand and scarcity, while keeping tokens necessary for actual use in the system.
Overall, the tokenomic model is designed to create lasting value for stakeholders, while fostering a vibrant, prosperous ecosystem.
If developers have an asset authorized with PRüF, they can access your records from anywhere. How are these asset authorization processes? is there any chance that a scam asset will be approved by the PRüF system? How do you handle that situation?
This is a good question that really speaks to some of the core strengths of the PRüF protocol.
Although the PRüF infrastructure can be accessed from anywhere, and all blockchain information is inherently public, PRüF protects user privacy by not exposing any personally identifiable user data on the blockchain in the first place.
PRüF uses user data to create digital “shadows” of the information it is given, and the original information is discarded. Like a shadow, the data cannot be used to recreate the original scene, but it is a unique imprint that can be used to verify that a scene matches the shadow or does not.
As for scam assets and bad actors, the PRüF node keys solve this problem by creating unique minting authorities for brands, categories, collections, and artisans.
With PRüF, the identity of the asset minting authority is simple and easy to verify, and for most high value or artisanal assets can be traced back to the artist, artisan, or manufacturer directly.
In the unlikely event that a bad actor successfully creates falsified assets, their minting authority could potentially be marked as fraudulent through community governance.
While privacy is important, sometimes we wish to make things public. PRüF allows for this as well, by linking assets to publicly readable (or encrypted) information accessible online. This way, users can publish what they want to make public while retaining control of their privacy.
Rug pull is Being too much. In this situation, How can we trust you and when are you planning to listed on a CEX?
PRüF is a completely new project with our own intellectual property, libraries, and codebase, so the team has a significant investment of time and capital invested in PRüF already. We’re not just copying someone’s gitHub and slapping a new brand on it like so many projects in the space.
PRüF has carefully aligned incentives to make sure that the project continues to grow. The team’s tokens are unlocked over 4 years to keep development and buildout going strong.
Aside from these tokens, the PRüF team and private investors will stake on nodes in the PRüF ecosystem, aligning team and investor incentives for long term viability. We will be announcing listings and liquidity dates soon, and our IDO is scheduled for the end of June.
To follow for IDO, bounties, contests, and more Check in at t.me/pruftalk or t.me/pufevents to stay up to date with the latest activities.
Q4: @Zafiyakhan2What can we expect to see from your platform in the short-term (at some point in 2021) & 2022?And beyond (long-term goals)?
As most people in the space are already aware, we will be announcing our IDO soon.
The events we are really excited about coming up, besides the IDO, are the mainnet launch in q3, and public Node availability at the end of this year. Thats when the real buildout of the PRüF ecosystem will start.
Of course we have a roadmap taking us into 2023 and beyond, but these are the things we are focused on now. Starting 2023 we will be focused primarily on business development with our Node grant programs and developer workshops and hackathons.
If you want to understand more about the project and where we are going, be sure to read the whitepaper in the “documentation” section of the website at https://pruf.io
While building its project.. Does PRUF take into account community feedback and requests? What role does the community play in your project?
Because PRüF is planning to eventually shift towards a community governance model using staking for vote delegation, we absolutely do work with the community in our decision making process.
with node staking, PRüF holders delegate their votes by staking on nodes that represent what they want to see in PRüF
When a project is just starting out, it often requires strong leadership with a focused vision, but even now in the early stages we have polls and Q&A sessions to help inform our decisions.
➡️Part 3: Free asking (5 best questions)
Can you share your fundraising situation and how your private and public offering tokens are distributed? And what are the plans for the next IEO? What should we prepare if we want to participate?
We have passed our initial seed round and closed a small round 1. We are working with partners right now to decide the amount of the IDO offering, but we anticipate that it will sell out quickly.
The best way to stay informed, and there will be a lot of important announcements in the next week or so - is to join at t.me/pruftalk or t.me/prufevents . That is where we always have the most current information.
Another good source of information on our general direction and plans is prufio.medium.com for a more in depth view.
Currently Staking is a very popular topic. Can you please explain the details about the token staking plan and the benefits of adding staking?
A: We have two types of staking planned. The main staking mechanism is the one I have already mentioned, which is staking on Nodes, or brands and artists' asset minting authority, for a share of revenues that they create on the platform.
The second mechinsm is the "early opportunity" staking, where we will offer high percentage rewards for stakers directly from the opportunity fund, as a staking option that will generate income for users even before there are a lot of nodes to stake on. This will help to create token demand and value stability after the IDO.
What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?
One of our strengths in the manufacturing space is that many people who buy a pruf-enabled product will be pruf users without ever using a crypto wallet. In this case, the manufacturer will handle the negligible transaction costs on a third gen chain, and in return they will be getting a powerful tool for customer engagement, product life-cycle monitoring, and revenue generating brand education opportunities.
In the NFT space, some of the current projects we are working with include physical NFT's , so that buyers of items receive a physical cold wallet containing their NFT. In this case, the NFT represents a value-added prospect.
Apart from that, be taking a protocol first approach, we encourage NFT platforms and brands to build on our infrastructure instead of competing against them . We feel that this approach along with our industry leading features will position PRüF as the de-facto platform of choice.
I am an EXPERIENCED DEVELOPER AND ETHICAL HACKER, do you have plans for HACKATHON so as to check the security of your ecosytem periodically and also invite developers to build?
We have an active bug bounty program, and we will be giving grants of AC Nodes and pruf tokens to qualified projects.
We have plans to host hackathons and contests for features, projects, and ideas to launch on pruf....we look foreward to hearing from you!
Only getting users, holders etc is not everything. In my opinion, a project needs to deal with solving a real world issue or problem What is the problem that your project primarily focuses on?
As an asset management platform, PRüF is designed from the ground up to solve issues in the real world. In addition to being the only NFT platform with permanent blockchain media and data storage, we help users to prove authenticity of ownership of their physical items.
We facilitate private trade by providing a protocol for secure, private exchange of ownership, and help to get your things back if they are lost or stolen. PRüF turns the real world into a showroom for online retailers and local markets, connecting buyers to local sellers and online retailers.....
In short, PRüF is designed to make owning, buying, and selling things, whether digital or physical, more secure, easier, and provably authentic across almost every market.