When compared to the $40B that was recorded last year, this accomplishment is substantial.
The exchange has stressed the importance of its proof-of-reserves mechanism.
Crypto exchange Binance reported on March 18 that the value of its assets under custody had surpassed $100 billion. When compared to the $40 billion that was recorded last year, this accomplishment is substantial.
Reasons cited by Binance for the growth include the exchange’s dedication to maintaining a 1:1:1 ratio between user cash and additional assets, as well as a meteoric rise in the value of digital assets. A crucial component of this guarantee is Binance’s proof-of-reserves (POR) mechanism, which enables the verification of 100% collateralization ratios in all prominent cryptocurrencies and altcoins.
Binance is certainly not going anywhere, even if the exchange and its co-founder Changpeng Zhao (CZ) are the targets of the U.S. Department of Justice proceedings.
Proof-of-Reserves Mechanism
Even mor
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