Proof of Donation (PoD)
For those familiar with the way blockchain technology works, the concepts of proof of work and proof of stake are well known. These are the most popular consensus mechanisms through which the peer nodes in a blockchain network agree on the latest state of the ledger.
Less well known, but equally significant, is the concept of proof of existence. Basically, proof of existence means taking the hash of something and storing that hash in a blockchain database. Since the blockchain ledger registers all the confirmed transactions, and every has is unique, once that transaction is confirmed inside the network, it can be referenced again through its hash in order to prove that a particular document or asset exists.
The MAS platform introduces a specific form of proof of existence, called proof of donation.
A proof of donation in MAS will demonstrate, in a cryptographic way, that a contribution from a specific client has been made for a specific MAS, whether as a bundle subscription or as a generic donation. Every time a contribution is made, the transaction will be hashed and timestamped.
In the future, proof of donation will include relevant metadata about the donation. This can include, for instance, a client’s ownership of the content to be created under a specific bundle, or even a specification that a donation has been made in order to promote certain type of aesthetic style. This will be controlled by sophisticated smart contracts, to be developed in a future upgrade of the MAS platform.
Proof of donation reinforces the transparency of the whole donation system, generating trust not only between specific clients and MAS, but also inside the entire ecosystem that interacts through the MAS platform.
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