What is POAP Meaning? POAP stands for Proof of Attendance Protocol. Let's take a closer look.
What is POAP Meaning?
POAP is an acronym for the creatively titled “proof of attendance protocol”. The idea behind POAPs is rather straightforward: they serve as digital badges that you may collect at events to show your attendance and serve as a reminder of the occasion.
How does a POAP work?
The way POAPs work is simpler than you might think. For minting (creating) these NFTs, a Proof of Attendance Protocol has been created. The protocol is composed of a number of smart contracts, which are blockchain-based computer programs.
With this Proof of Attendance Protocol, event organizers can create their own POAP NFTs. The POAP website, POAP xyz, has everything needed to mint and send out these NFTs.
Every POAP NFT needs to meet the following three requirements:
-It must be minted under the POAP smart contract address.
- It must have metadata related to a time or date period, which can be up to one year long.
- It must have an image associated with it.
After the POAP NFTs are created, the organizer needs to decide how to distribute them. They could put up signs with QR codes for people to download the POAP NFT at their event or send out a download link by email.
The NFTs are Ethereum (CRYPTO:ETH) tokens, but they're built on a sidechain called xDai -- a stable payments chain made for fast, inexpensive transactions that allows the creation of POAP NFTs at low costs. It also doesn't use much energy, so these NFTs are environmentally friendly.
What is POAP Meaning? How Does It Work? - Hopefully, this article can help you to get some knowledge.
