Modern-day market leaders constantly engage in rivalry to create a product that best suits the client's needs – take the example of Microsoft, Samsung, and Apple. Direct competitors, they are locked in a tight competitive race for market domination in personal computing devices.
Although competition stimulates these companies to transcend expectations and constantly innovate, this is not always positively reflected on consumers. Fragmentation and lack of coherent compatibility between platforms necessitate users to install additional programs, import and export different file formats, and engage in a wearisome process of constant updates to stay on the latest version.
The same fragmentation can be seen in blockchain – relentless innovation launches new blockchains, leaving users behind on outdated platforms and protocols. If blockchain technology does not find a way to progress coherently, market fragmentation and orphaned protocols will continue to disrupt the user experience and erode value in the space.
PRüF, a next generation token protocol, was created to solve this and other problems in the blockchain space.
By being a multi-chain, platform-agnostic protocol, PRüF transcends technology fragmentation by focusing on unified user experiences and universal compatibility instead of limiting itself to a single distributed ledger.
Originally based on the Ethereum network, PRüF has expanded to the Polygon POS network, enabling users to send assets and tokens between networks seamlessly.
By extending the protocol to multiple blockchains, PRüF focuses on creating a unified blockchain space in a revolutionary, market-leading step to create a coherent user experience across numerous blockchain fabrics. PRüF leverages the strengths of each chain for different applications, giving users unprecedented mobility while connecting them to a global, unified ecosystem.
In a recent development, Cardano's Project catalyst chose PRüF to receive funding to extend the protocol onto the Cardano platform. This will open the protocol into the Cardano user base, giving Cardano users access to the full power of the multi-chain PRüF Ecosystem.
By promising seamless asset portability and unprecedented power to organize and manage business across multiple blockchains, PRüF is leading the field by creating a unified, fully distributed solution for enterprises and creators to launch their companies and products without concerning themselves with the technical details of different blockchain platforms.
First question – how would blockchain space change with introduction of multi-chain protocol?
Multi-chain protocols make the blockchains they operate on less visible. When you use PRüF assets, you won't be thinking about the chain they work on since it won't matter. PRüF assets are minted on or moved to chains that best support their business model, whether an older chain or a new, emerging platform.
What are the blockchains you see the most potential in, and which ones of those you accommodated into PRüF?
Right now, we are focused on Ethereum, Polygon, And Cardano. These chains give us a nearly ideal coverage for different use cases and let us cover pretty much the entire spectrum of security, economy, functionality, and trust. After PRüF deploys fully on these chains, it will expand onto many EVM compatible chains and chains explicitly designed for NFTs. As we continue our expansion, the PRüF foundation will also consider launching our own asset provenance side-chain.
Since your protocol is based on the Ethereum network, how would the recent London hard fork affect the platform’s experience?
We don't expect to see any difference right away, but we expect ethereum transactions to drop in price as POS gets implemented.
What are the most daunting challenges with tokenizing your business, and how is PRüF able to resolve that?
Tokenizing digital or physical objects using legacy protocols requires that you either write your own contract code and web3 interfaces or use an expensive centralized platform on which your assets will forever be dependent. In addition to this, you must consider the permanence or ongoing costs of storage and assure customers that they are buying real value and that you or your platform will never go out of business.
With PRüF, you get a community governed, fully decentralized solution with open source web interfaces that anyone can deploy or customize. Assets can be minted on PRüF without writing any contract or web3 code, without expensive audits, and your customers can know that they are buying a genuinely decentralized product that will transcend the lifespan of the issuing entity, retaining value into the foreseeable future and beyond.
What are the most prominent use-cases of the PRüF network for any entrepreneur?
PRüF is ideal for tokenizing digital or physical goods. Tokenized physical items could include regular branded goods, artisanal or one-of-a-kind items, boutique consumables, and just about any other item where proving provenance or ownership might be helpful.
An interesting use case for boutique consumables could be limited-run luxury liquors, for example. In this case, we can imagine that a bottler releases a series of 250 bottles of a single cask whiskey, each a PRüF tokenized asset.
When a bottle is decanted, there is a barcode inside the lid that has a code that can be read by a smartphone, which could enable the opener to get a celebrity "shout out" for their event and would automatically change the asset status to "consumed" on the blockchain. This would raise the values of remaining bottles since it would be publicly verifiable that they were more scarce than before. As values went up towards the last in the series, a bottle could be auctioned for charity or other public events. The last bottles to be opened could include additional incentives, like celebrity visits, vacations, or other luxury-oriented values.
This gamification of consumption is easily facilitated by trustless mechanisms, allowing values of scarce items to snowball in a competitive global luxury market.
Examples of PRüF enabled digital goods include NFT art or media, NFT based games, and the tokenization of digital documents or contracts. For NFT art and game pieces, PRüF includes the capability to contain both the presentation context and the artifact in blockchain storage. For example, with a trading card-style game, a game asset may also include a pointer to a blockchain-stored, web playable copy of the game, enabling the game to be played far into the future, capturing permanent value for the game piece.
Who are the members of your team who brought PRüF protocol into reality, and what is their background that helped them in achieving so?
We are, of course, thankful to all of our team members, logistics experts, proofreaders, community managers, and all of the other people who have helped bring PRüF into existence, but PRüF owes its heritage to our core development team. We all have technical backgrounds, and we have extensive experience working together on different projects. Together we have more than half a century of software and blockchain development experience spanning from web integration to aerospace system programming. https://pruf.io/team.html
How does PRüF manage to nurture communities across the variety of chains all at once?
PRüF extends the protocol to diverse communities on many platforms, but since the differences between chains are mostly invisible to PRüF users, the PRüF community is unified around the protocol and is multi-chain as well. A PRüF token or asset is the same, regardless of what chain it is on.
Who are the most prominent partners of your project? What steps are you planning to undertake in order to expand this network?
We are just getting started with our partnerships, but so far, we are working with WhiteWhale capital, X10, SightGlass Foundation, Cardano's Project Catalyst, ARweave, The IPFS Foundation, Creative Tim, Jeff Mitchum Galleries, Blackstone Global, Decentralized Machines, Polygon, and many more.
As far as integrations, we are already fully integrated with ARweave, and the token is bridged to the polygon POS network. Our partnership with Project Catalyst will further extend the protocol to include Cardano!
PRüF is building something completely new in the blockchain space.
As a protocol, PRüF will extend to various chains, each with its unique strengths and use cases. Tokens and assets will be fully transportable between chains.
Our protocol is designed so that it can integrate with and extend existing blockchain infrastructure. This will result in hundreds of partnerships as projects seek to build out the features, interoperability, and reliability that their customers demand using PRüF.
What are the milestones you are most proud of up to this day? What waits for the PRüF blockchain protocol ahead?
We're just getting started, but we've done a lot already. The MVP contract infrastructure and the primary business logic contracts are done, audited, and deployed on the testnet.
We have the complete dApp interface publicly available (on the testnet) at our website, and the PRüF utility token is live on the Ethereum mainnet and Polygon POS.
We've built an entirely new dApp interface for an improved and simplified user experience, and it's working well on screens of all sizes and devices.
We are fully integrating with Polygon and Cardano to bring instant, affordable transactions and complete asset portability to PRüF. Of course, early incentive staking is an exciting development as well, bringing industry-leading rewards to early holders -- and that should be live in just a couple of weeks!