NFT Authentication Protocol Wakwelli Partners With Polygon To Combat Fraud

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

Table of Contents

1. Introduction
2. What Is Wakwelli?
3. Understanding The Role Of Polygon
4. The Cooperation Agreement Between Wakwelli and Polygon
5. How Will This Partnership Benefit Users?
6. Conclusion
7. FAQs

Introduction

Non-Fungible Tokens (NFTs) have taken the world by storm, revolutionizing the way digital assets are bought, sold, and verified. However, with the rise in popularity of NFTs, the number of fraudulent activities associated with them has also increased. As a result, NFT authentication protocols like Wakwelli have become crucial in ensuring the legitimacy of digital assets on the blockchain. In this article, we will discuss how Wakwelli has partnered with Polygon to combat fraud and make the NFT market a safer place for buyers and sellers.

What Is Wakwelli?

Wakwelli is an NFT authentication protocol that utilizes machine learning algorithms and pattern recognition technology to verify the authenticity of digital assets. It analyses data from the NFT’s metadata and blockchain, as well as image and audio analysis, to determine whether an NFT is genuine or not. With Wakwelli’s authentication certificates, users can verify the legitimacy of a digital asset and ensure that it is not counterfeit or tampered with.

Understanding The Role Of Polygon

Polygon is a Layer-2 scaling solution that offers faster and cheaper transactions on the Ethereum network. It operates as a sidechain and enables users to transfer assets between different networks seamlessly. Polygon achieves this by using a Proof-of-Stake (PoS) consensus algorithm, which eliminates the need for miners to validate transactions. As a result, transactions are faster and cheaper compared to the Ethereum network.

The Cooperation Agreement Between Wakwelli and Polygon

Recently, Wakwelli announced that it had signed a cooperation agreement with Polygon to ensure that all digital assets on the network were compatible with Wakwelli’s authentication system. This partnership will require all NFT project holders on the chain to apply for authenticity certificates for each asset. This 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.

How Will This Partnership Benefit Users?

The Wakwelli-Polygon partnership will benefit users in several ways. Firstly, it will provide comprehensive protection against fraud and scams for Polygon users. With Wakwelli’s advanced authentication system, users can be assured that the NFTs they are buying are genuine and not counterfeit. Secondly, the partnership will enable Polygon users to enjoy faster and cheaper transactions, which is crucial in the fast-paced NFT marketplace. Lastly, this partnership will further strengthen the blockchain ecosystem, promoting the adoption of NFTs and blockchain technology as a whole.

Conclusion

Wakwelli’s partnership with Polygon is a great step towards making the NFT market a safer place for buyers and sellers. With the rise of fraudulent activities associated with the NFT market, partnerships like these are crucial in ensuring that digital assets are genuine and that buyers and sellers are not vulnerable to scams. With Wakwelli’s advanced authentication system and Polygon’s faster and cheaper transactions, users can enjoy the benefits of NFTs without worrying about the authenticity of their purchases.

FAQs

1. What is Wakwelli?
– Wakwelli is an NFT authentication protocol that utilizes machine learning algorithms and pattern recognition technology to verify the authenticity of digital assets.
2. What is Polygon?
– Polygon is a Layer-2 scaling solution that offers faster and cheaper transactions on the Ethereum network.
3. How will the cooperation agreement between Wakwelli and Polygon benefit NFT users?
– The partnership will provide comprehensive protection against fraud and scams for Polygon users, enables faster and cheaper transactions, and further strengthens the blockchain ecosystem.