What is Proof of Ownership?
The power of blockchain technology lies in its ability to provide verifiable digital ownership. On the Kadena blockchain, as well as other blockchain networks, individuals can prove ownership of digital assets through their wallet address.
This eliminates the possibility of disputes and fraud, as ownership can be easily verified. An example of this is the value of a Banksy artwork.
Anyone can view a digital image of it, but only the person who owns the NFT, the non-fungible token, has the true and verifiable ownership of the artwork. This is the strength of blockchain technology in verifying the authenticity and ownership of digital assets.