Top cryptocurrency exchange Binance, in a recent announcement, unveiled the Merkle tree Proof of Reserves (PoR) system. According to Binance, this feature will increase transparency for user’s funds.
Binance unveils Merkle tree Proof of Reserves
As per the recent tweet from WuBlockchain, the launch of this feature will start initially with BTC, then move to other tokens and networks being added in the next couple of weeks. In addition to this, Binance will also implement ZK-SNARKs for PoR later to improve privacy and robustness.
The top cryptocurrency exchange recently announced the Proof of Reserves (PoR) system, which will be the next step in ensuring user funds are transparent. Notably, following the FTX collapse, which resulted from the now-bankrupt cryptocurrency exchange moving user funds to mitigate its own risks, crypto exchanges developed a transparency solution known as “proof-of-reserves.” In the next two weeks, the next batch of PoR will be released, including new ass

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