Proof of Interaction:

Redefining Off Chain Verification in the Web3 Space

The Web3 space is witnessing a revolutionary development. High yields and liquid markets build the backbone of DeFi, NFTs forge the definition of identities and being part of communities, and real-world assets (RWAs) and asset tokenizations have emerged as cornerstones of tangible product interaction. Yet, we are plagued by the absence of a standardized method to track and authenticate real-world events. Current systems are enmeshed in Web2 methodologies, which are inherently limited in ensuring the genuineness of transactions, such as transfers of ownership or claims of items.

Enter Proof of Interaction (PoI), a groundbreaking protocol that addresses these constraints by establishing a transparent, verifiable, and trustless digital ledger for real-life interactions. This innovative protocol is set to address a critical gap in the digital world - the lack of a standardized and extensible way to record and track real-world events and interactions.

The Innovative Solution: Proof of Interaction

Traditional methods fall short in ensuring the authenticity of such interactions, particularly in the realm of real-world asset applications, which largely rely on Web2 methodologies. Take for example a purchase of a Phygital good. Upon the purchase of the item, you would have to actually tap an NFC tag to claim the ownership of a digital double. However, this is done via a Web2 API which triggers a mint or transfer of an NFT to your wallet. Same thing applies when we want to verify that you attended an event, or even in logistics and tracking if you or an item was at a specific place at a specific time. In fact, some of these aren't even possible to be achieved in Web3 yet, until now. With its roots in extensibility and standardization, PoI transcends the barriers of POAPs (Proof of Attendance Protocols) by allowing for the automation of real-world interactions on-chain, something previously unverifiable and thus prone to fraud and inefficiencies.

PoI emerges as an innovative solution, offering a specification that ensures verifiable ownership, uniqueness, and correctness of interactions while being human-readable for global adoption. The essence of PoI lies in its simplicity and universal applicability. It provides a framework that assures the verifiable ownership of interactions, their uniqueness and correctness, all while maintaining human readability. This ensures that the system is adoptable globally, supporting both backward and forward compatibility. The pivotal features—Transparency, Integrity, Trustlessness, and Scalability—align seamlessly with the decentralized ethos of Web3.

PoI operates by creating a standardized method for proving interactions at specific locations, times, or events using interfaces like NFC tags. Integrated with Account Abstraction, PoI offers a seamless user experience, high extensibility, and, notably, operates gas-free. This advancement allows for the transparent and verifiable tracking of interactions, bridging the gap between Web2 users and the Web3 space.

How It Works

PoI was built to work with any arbitrary interface. That means that it could work with QR codes, NFC tags, or anything built on top of these technologies like ticketing counters. Functionally, PoI is inspired by standards like Sign In With Ethereum (SIWE). It allows for any arbitrary data to be signed and stored on chain for verification purposes. Since we are using signatures, it provides a human readable interface so users are aware of what their actions perform. It also allows for the address to be recovered, providing verifiability when and if anyone seeks to challenge this proof. Signatures can also be delegated to another address to commit it on chain without sacrificing data integrity.

One example would be automating on chain rewards for attending an event, as shown in the diagram below:

The Impact on Web3 and Beyond

Proof of Interaction stands as a testament to the evolving landscape of Web3 technologies. By providing a reliable and scalable standard for recording real-world interactions on the blockchain, PoI not only enhances the authenticity and trustworthiness of digital transactions but also paves the way for broader adoption of decentralized systems. Its ability to encode real-world events into the blockchain realm opens up a plethora of opportunities for smart contract automation and decentralized applications, making it a cornerstone in the advancement of Web3 technologies.

As we continue to explore the boundaries of blockchain capabilities, Proof of Interaction is poised to play a pivotal role in bridging the gap between the digital and physical worlds, marking a significant leap forward in the evolution of Web3.