Proof of Existence (PoE)

Traditional models used central authorities for validating the documents causing more security breaches. A document is stored in the BC with a signature and a timestamp associated during storage.

The user can validate the document anytime from any location. Privacy and security can be achieved by storing the document proof in a decentralized way where a third party cannot modify it. Cryptocurrencies such as Poex.io, Hero Node, and Dragon Chain use the PoE algorithm. The advantages of PoE include maintaining integrity by document time-stamping when given by the user. Common use cases of PoE can be asset realization and proving ownership for deed transfer.