Binance Boosts Security With Proof-of-Reserves System Update, Now Covers 24 Tokens
The world’s largest cryptocurrency exchange, has upgraded its proof-of-reserves (PoR) system to include 24 tokens. This upgrade comes as part of Binance’s commitment to providing greater transparency to its users. The PoR system is a way for users to verify that their assets are held for them 1:1 in Binance’s custody.
The upgraded PoR system now includes 11 new tokens: MASK, ENJ, WRX, GRT, CHR, CRV, 1INCH, CVP, HFT, SSV, and DOGE. The overall amount of funds now verifiable via Binance’s PoR system has now exceeded $63 billion across these 24 assets. To ensure user security and privacy, the exchange implemented zk-SNARKs, zero-knowledge protocols, in their PoR system. This is the first time a centralized crypto exchange (CEX) has implemented this kind of technology in their PoR work. The exchange has made the code open-source, allowing the rest of the industry to benefit from this innovative application.
Source
https://t.me/Bitcoin_Crypto_Coin_Calendar
