Hello, readers in this article my main focus will be on the FREQUENTLY ASKED QUESTIONS (FAQ) ABOUT PRüF
PRüF Is a privacy-first provenance platform that provides instant verification of ownership, authenticity, and item provenance.pruf.iopruf.io
PRüF has amazing and outstanding functions. PRüF can be used to manage escrows, collateralized loans, layaways, private sales, and much, much more.
What has PRüF as a new project has been able to achieve so far?
Well…The core contract infrastructure and the basic set of business logic contracts are done, audited, and deployed on the testnet. We have the MVP dapp interface publicly available (on the testnet) at pruf.io, and the PRüF utility token is live on the ethereum mainnet. We are having a seed round presale right now through Jan 30, you can check it out at pruf.io.
PRüF accomplishes decentralization primarily through the use of independent nodes.
Nodes are operated by companies or individuals and act as management portals for different classes of assets.
Decentralized governance for the entire ecosystem is planned, and the entire infrastructure is designed to eventually be controlled by decentralized governance contracts.
How does PRüF protect user privacy?
The PRüF protocol does not store personally identifiable information on the blockchain. This is important because, by design, the blockchain is a living public document. Anything stored on the blockchain is inherently public. PRüF uses user data to create digital “shadows” of the information it is given, and the original information is discarded.
Privacy and security are almost always a tradeoff with functionality. PRüF meets this challenge in two ways:
PRüF allows a specific user (and only that user) to prove that they are the owner or authorized party to a single specific asset. This limitation is a privacy feature in our case because it prevents “looking up” users’ listings on the blockchain.
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.
What makes PRüF unique, and what is the market potential?
PRüF solves real problems for individuals while addressing significant pain points for international commerce. Most projects are just copying existing innovations in the already crowded DeFi space, and they aren’t bringing in any new value to the crypto ecosystem.
You can only put so many fish in the same bowl before they start eating each other….Real-world projects like PRüF bring in new value to the space, instead of just trying to grab an ever-decreasing share of a limited resource.
How is PRüF going to create massive adoption?
Adoption is a huge issue for most projects in the cryptocurrency space. Most people know little or nothing about blockchain technology. Even fewer people actually hold or use crypto.
PRüF onboards users in bulk without them even knowing that they are using the blockchain.
When a major upmarket manufacturer uses PRüF so that their customers know that they aren’t buying fakes, customers scan the tags in the store with their phones to verify their authenticity. All they know is whether a product is authentic or not — the blockchain operations are doing the work in the background.
After purchase, they can register their purchase on the brand’s portal. Without ever touching a crypto wallet, they are now a PRüF user. The brand owner handles all of the blockchain interaction in their back-office infrastructure.