Introduction
Welcome to the blue checkmark for smart contracts
What is VeritiDAO?
The goal of the VeritiDAO protocol is to create a decentralized authority for the verification of NFTs, ERC20 tokens and any Ethereum smart contract.
Why do we need VeritiDAO?
Consistent Criteria Across Platforms: In the current landscape, there's a glaring absence of a universally accepted criterion for determining a verified NFT collection. This gap leaves room for ambiguity and inconsistency, especially when interacting across various NFT marketplaces and decentralized exchanges.
Reduction in Resource Utilization: NFT marketplaces and decentralized exchanges currently have to dedicate significant resources to the manual verification of tokens. This method isn't just expensive and time-consuming, it also often leads to an untenable backlog of pending verifications, reducing the platforms' efficiency.
Addressing Smart Contract Duplication: Due to the relative ease of duplicating smart contracts, it's often challenging to identify the original contract from its copies. This issue is particularly acute when interacting with smart contracts on decentralized exchanges, making it hard for users to distinguish legitimate contracts.
Growing Web3 Complexity: As the Web3 ecosystem continues to expand, these aforementioned issues are likely to become even more pronounced. The increasing number of users and the exponential growth of created collections will intensify the problems associated with manual verification and lack of standardization.
Who created VeritiDAO?
VeritiDAO is a concept conceived by Turbowizard, and built by a distributed pseudo-anonymous team.
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