What is POAP and Why Should we Care About it?
Comprehensive Guide to POAP: Exploring the Benefits, Use Cases, and Importance of Proof of Attendance
By reading the article “What is POAP?” published in Adaas Investment Magazine, you will get acquainted with the Proof of Attendance Protocol and its use cases and benefits in general. This level of familiarity can be enough when you need educational information about this topic.
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With the advancement of technology and the emergence of blockchain, new and unique possibilities have occurred for the users of this emerging industry, where these processes and operations were impossible due to existing limitations.
The proof of attendance protocol (POAP) introduced a new generation of smart contract development protocols, which will be developed by this protocol of a new generation of decentralized applications and will be available to users who will check the process of validating people to attend events. In the following, we will introduce and review the Proof of Attendance Protocol for you!
Table of Contents
What is POAP?
In the Ethereum blockchain, a new standard called ERC-721 was introduced for the development of smart contracts and NFT tokens. In this standard, tokens receive the feature of being irreplaceable or, in simpler terms, unique value. The proof of attendance protocol, as its name suggests, is used to prove the presence of a user in online or offline events. Because a person cannot exist in two different bodies, the properties of NFT tokens are used to prove their uniqueness.
In order to prove the uniqueness of smart contracts, a special serial number is embedded in them, and the owner of that token can prove his ownership of the token with that special serial number by proving the ownership of the wallet in which that token is stored.
Proof of Attendance Protocol is a decentralized application (dApp) developed on the Ethereum blockchain and uses the POA network as its core infrastructure. The protocol uses a Proof-of-Authority (PoA) consensus mechanism to ensure that transactions are validated by verified accounts, also known as validators.
Of course, it should be noted that the concept of proof of attendance protocol can be extended to all blockchains that support the development and implementation of smart contracts, such as Binance Smart Chain or Solana.
History of the proof-of-attendance protocol
The first idea that implemented the concept of the proof-of-attendance protocol was proposed by Dan Novaes in 2012. In this idea, according to the amount of time users spent in a certain event, a specific amount of reward was considered for them by a decentralized application based on the blockchain.
But the first case that can be officially introduced as proof of attendance protocol occurred in 2019. In a hackathon related to the ETH Denver convention, all participants of the event were rewarded with a token, which was registered as the first official POAP.
Why is the proof of attendance protocol important?
Imagine that you were present at the first Decentralized Finance (DeFi) applications development event as one of the leading speakers about the advancements made possible by the development of this industry. When you are sending your resume to big companies to get relevant job positions, by owning the NFT token that was allocated for the speakers of that successful conference, you can present yourself as an influential and leading person. Prove yourself in the industry and provide a unique feature in the competition of other applicants.
This was just a very simple example to understand how the proof-of-attendance protocol works and its importance. The future proof of attendance process can be done by unique vital signs of users or other successful ideas for this process can be considered.
In general, the proof of attendance process becomes very important because when you don’t have access to some physical centers to prove your presence (for example, for the process of removing bank account limitations), you can use proof of attendance protocols in order to have minimal cost and waste of time finish your work.
Also, some online events that are of great importance, these events can be political, educational, or for decision-making by members of the board of directors of a company, require the presence of the only person invited to that event to prevent the disclosure of confidential information. In this situation, proof of attendance protocols is very important to validate the presence of the invited person correctly.
In this way, the proof of attendance protocol can validate the physical or avatar presence of a user in a specific event and finally issue a digital document or certificate for it. Due to the use of blockchain technology, the certificate issued is immutable, and thus, in addition to the transparency of the processes, the user can match the data of his digital certificate with the information documented in the blockchain.
How does the proof of attendance protocol work?
Event organizers can use the poap.xyz platform to create their events and use the proof of attendance protocol benefits. Participants can also use the application developed under Android or IOS operating systems to allow the software to validate the presence of users.
The operation of validating the physical presence of users by this application starts after the participant scans the QR code for each event. This software detects the user’s presence or absence at the event venue based on the user’s location data when scanning the QR code.
Creating events on the poap.xyz platform is free for organizers, but attendance at that event can be priced by the organizer and ask users to pay a specified fee to participate.
What are the advantages of using the POAP?
One of the biggest challenges for public events is to create a value or motivation for users to participate in that event. Through the proof of attendance protocol, event marketers offer users a digital certificate as an added value by which they can prove their presence at their favorite events in an online and validated manner.
User identity management systems that will become much more practical in the future require an immutable database that the POAP uses blockchain technology to provide this feature to event organizers.
The information and data collected by the proof of attendance protocol can be used for applications such as marketing and targeted advertising, or monitoring the entry and exit of event participants.
The End Words
At Adaas Capital, we hope that by reading this article you will be fully immersed in the proof of attendance protocol (POAP). You can help us improve by sharing this article which is published in Adaas Investment Magazine and help optimize it by submitting your comments.
FAQ
What is proof of attendance protocol (POAP)?
The proof of attendance protocol can validate the physical or avatar presence of a user in a specific event and finally issue a digital document or certificate for it
How does POAP work?
This software detects the user’s presence or absence at the event venue based on the user’s location data when scanning the QR code.
