NFTs and Wakwelli: a new era of authentication on Polygon
According to reports, the NFT authentication protocol Wakwelli announced that it had signed a cooperation agreement with Polygon to ensure that all digital assets on the network we
According to reports, the NFT authentication protocol Wakwelli announced that it had signed a cooperation agreement with Polygon to ensure that all digital assets on the network were compatible with the authentication system developed by Wakwelli. This partnership requires all NFT project holders on the chain to be able to apply for authenticity certificates for each asset, which will enable Wakwelli to authenticate all Polygon users, automatically submitting authentication requests when NFT casts or accesses more accurate authentication data, thereby effectively combating fraud. （crypto-news-flash）
NFT Certification Agreement Wakwelli and Polygon enter into a partnership to provide asset authenticity certificates
Introduction
The NFT market has exploded in recent years, with digital art and collectibles selling for millions of dollars. However, with this explosion comes a problem: how can buyers be sure that the NFT they are purchasing is authentic? Enter Wakwelli, an NFT authentication protocol that recently announced a partnership with Polygon to ensure that all digital assets on the network are compatible with its authentication system.
What is Wakwelli?
Wakwelli is an NFT authentication protocol that aims to address the problem of NFT fraud. By providing an authentication certificate for each asset, Wakwelli aims to make it easier for buyers to verify the authenticity of the NFT they are purchasing. The protocol uses a combination of on-chain and off-chain data to verify the ownership, provenance, and uniqueness of each NFT.
What is Polygon?
Polygon (formerly Matic Network) is a Layer 2 scaling solution for Ethereum. It aims to provide faster and cheaper transactions on the Ethereum network by using a sidechain architecture. Polygon has become increasingly popular in recent months, with many NFT marketplaces and projects choosing to use the network to avoid the high gas fees on Ethereum.
The Partnership
The partnership between Wakwelli and Polygon is a significant step towards combating NFT fraud. By requiring all NFT project holders on the chain to apply for authenticity certificates, Wakwelli will be able to authenticate all Polygon users automatically. This will involve submitting authentication requests when NFTs are cast or accessed, providing more accurate authentication data, and effectively combating fraud.
Benefits of the Partnership
The partnership between Wakwelli and Polygon has several benefits. Firstly, it will provide a more secure environment for NFT buyers, enabling them to verify the authenticity of the NFT they are purchasing. Secondly, it will make it easier for NFT projects to apply for authentication certificates, ensuring that all assets on the chain are verified. Finally, it will add an additional layer of security to the Polygon network, making it more attractive to NFT creators and buyers.
Challenges
While the partnership between Wakwelli and Polygon is a significant step forward, there are still challenges to consider. Firstly, NFT projects will need to apply for authenticity certificates, which may be a barrier for some. Secondly, there is still the risk of fraud, and it remains to be seen how effective Wakwelli’s authentication protocol will be in combatting this. Finally, the increased demand for authentication may put a strain on the Polygon network, potentially leading to slower transaction times and higher fees.
Conclusion
The partnership between Wakwelli and Polygon represents an important step forward in the fight against NFT fraud. By providing a secure and reliable authentication system, buyers can be more confident that the NFT they are purchasing is authentic. However, there are still challenges to overcome, and it remains to be seen how effective the authentication protocol will be in the long term.
FAQs
1. What is an NFT authentication protocol?
An NFT authentication protocol is a system that verifies the ownership, provenance, and uniqueness of an NFT. By providing an authentication certificate for each asset, buyers can be more confident that the NFT they are purchasing is authentic.
2. What is Polygon?
Polygon (formerly Matic Network) is a Layer 2 scaling solution for Ethereum. It aims to provide faster and cheaper transactions on the Ethereum network by using a sidechain architecture.
3. How does the partnership between Wakwelli and Polygon combat NFT fraud?
By requiring all NFT project holders on the chain to apply for authenticity certificates, Wakwelli will be able to authenticate all Polygon users automatically. This will involve submitting authentication requests when NFTs are cast or accessed, providing more accurate authentication data, and effectively combating fraud.
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