Understand all the details about Codex’s verified accounts and what it means for all users.
We recently opened up applications to become a verified account on Codex. In this post we want to help the community understand:
- What a verified account is
- How it relates to public collections
- What it means to be verified
- What you can trust
- How you can apply
Recently we have noticed a lot of our users and community have questions around verified accounts and which Codex Records they should inherently “trust”. This post aims to clarify and explain questions around verification and trusting Codex users and Records.
What is a verified account?
Last month we opened up applications to become a Verified Account on Codex. Verified accounts can have public galleries or remain as private collections. A verified account on Codex means that the user has gone through an application process and we have verified their identity. In other words, we verify that a user is who they claim they are.
Applicants to become a verified account will go through the application process outlined on our website here.
For verified accounts, the user’s verified name will appear in the Record’s provenance instead of the alpha numeric wallet address. This lets viewers more easily and quickly identify the identity of the Record’s owner, creator or modifier. Below is an example of a Record from Danny Smith’s Digital Art gallery, his verified name is shown in the Codex Record’s provenance, instead of just his wallet address.
At Codex, we believe anyone should be able to sign up and register their valuable collectibles onto the blockchain. However, trust of data is garnered by the reputation of who adds the data. Verified users are vetted by Codex and differentiating them from general users helps others to immediately make a more informed decision on whether they trust the contents of a Codex Record.
To make it even easier to discern, in an upcoming feature update verified icons will be added next to verified names to make it even clearer who has been verified. Below is an image of a verified hash with a green checkmark icon beside the hash; a similar icon will be added for verified users. We will announce this update to verified users and all existing verified accounts will be included with the update.
Verified Accounts and Public Collections
Many of the existing verified accounts on Codex have opted to make their collections public, and are featured on the Codex website. Verified accounts can be kept completely private, or they can choose to become featured in our public collections page. Users can choose which Records populate their public collection, shown in the image below. If a verified user wants to make their collection public, they can still keep individual Codex Records private by turning off the “include in gallery” and turn on the “private” portion of each individual Record. This allows users to decide which assets they want to share with the public, even if they have a featured public collection.
Trusting a Codex Record and Verified Accounts
Understanding that we only verify a user is who they say they are, is important in determining the trustworthiness of a Record. While anyone can create accounts and create Records on the blockchain, we can assist in the process of determining a verified user’s identity, therefore making it easier for others to determine whether they trust the contents of verified user’s Codex Records.
Codex Records hold provenance information about an item in a secure way by storing hashes of the information about the asset on the Record. The value of the content stored on the Record is often determined by who uploaded that information. If a viewer of a Record knows the source of information on the Record, they can make an informed judgement call on whether they trust the information.
With verified accounts, we are verifying a user’s identity but not verifying individual contents of Codex Records. When someone says an asset is authenticated or verified by Codex, please be mindful that only their identity was verified by Codex. We do not authenticate or verify each individual Record created on the platform. We believe in maintaining our user’s privacy and do not ask to see the private information our users register on their Codex Records, and instead choose to verify trusted entities.
Applying for a verified account
If you’re an active Codex user or interested in becoming a member and want your identity verified, please read through our application process here. Existing general accounts can apply to become verified accounts. Anyone can apply; common user types who are verified on Codex include artists, collectors, galleries, auction houses and more.
Start here to apply for a verified account.
Codex is the leading decentralized asset registry for the $2 trillion arts & collectibles (“A&C”) ecosystem, which includes art, fine wine, collectible cars, antiques, decorative arts, coins, watches, jewelry, and more. Powered by the CodexCoin native token, the Codex Protocol is open source, allowing third-party players in the A&C ecosystem to build applications and utilize the title system. Codex’s landmark application, Biddable, is a title-escrow system built on the Codex Protocol, which solves long-standing challenges in auctions: non-performing bidders, lack of privacy and bidder access. The Codex Protocol and CodexCoin will be adopted as the only cryptocurrency by The Codex Consortium, a group of major stakeholders in the A&C space who facilitate over $6 Billion in sales to millions of bidders across tens of thousands of auctions from 5,000 auction houses in over 50 countries.