[ANN]⚜️ portion is the art world's bridge into the new world of Cryptocurrency⚜️

[Portion]

It is great that it will exist as an ERC-20 on Ethereum, but why ERC-20 and why not ERC-223 where it is able to handle a network of greater nodes and sustainable on economies of scale?

We chose ERC-20 as it is more tested and more established in terms of cross platform and cross exchange support, but we are pretty familiar with the proposed advantages of 223 and have been following it for a while. One advantage of ERC-223 is to prevent accidentally sending tokens and getting them held by a contract, but we are doing a lot of validations with Web3 and in our contracts preventing a lot of these edge cases. Our CTO and Co-Founders are very active on our Telegram channel if you want to continue the convo there: https://t.me/PortionOfficial

[jeremyscott]

The Art industry is being attacked by a lot of fraud and unlawful businesses, will Portion have any insurance or a policy to act against frauds?

We are currently only working with living artists, where the art comes straight from the source (them!). So fraudulent product is not an issue.

but after the artist sells his artwork, the next owner can give it as a present to a third person and basically you lose all track of the authenticity of this piece of art...

[donaldmarcovicd]

What will be the first country for your beta testing?

[rolandrolandeyiche]

Will the artists be categorized according to the medium that they will be using?  That will help collectors easily select their preference.

[ggeorgeokafor]

Why do you pick Ether as your blockchain solution? Are you planning to stick with it or upgrade? Something with more scale and less Gas fees?

[zinovydenisov1952]

Have you set-up any rules as what will happen should it be proven that there's plagiarism?  This might be a big IF but it should be one thing to consider.  Even if it might be a far-fetched scenario for now, this is a step to look into just so there won't be such attempts.

[mike_ziegler589]

I've read that a smart contract only achieves its ideal when you're dealing with digital assets or pure digital structures but as soon as the real world gets involved… it gets more complicated. Will you face this same problem?

[Portion]

The Art industry is being attacked by a lot of fraud and unlawful businesses, will Portion have any insurance or a policy to act against frauds?

We are currently only working with living artists, where the art comes straight from the source (them!). So fraudulent product is not an issue.

but after the artist sells his artwork, the next owner can give it as a present to a third person and basically you lose all track of the authenticity of this piece of art...

Not really. A transfer (giving art as a present) is treated like a non-monetary transaction, so it would be tracked just the same. And provenance (origin of the art piece) is never changing.

[Portion]

Why do you pick Ether as your blockchain solution? Are you planning to stick with it or upgrade? Something with more scale and less Gas fees?

Smart contracts on Ethereum blockchain and specifically ERC-20/ERC-721 standards are currently the most reliable and well tested in our opinion. Of course, we always look out for the best experience/delivery for the users, so if the community starts to adopt a better standard, we'll certainly research it. What were you referring to when you mentioned more scale and smaller gas fees?