Binance CEO Changpeng Zhao (CZ) announced that they have integrated the zero knowledge proof (zk-SNARK) system into the exchange’s proof of reserve (PoR).
Binance CEO CZ posted on his official social media account on Feb. in his postwithin the scope of product and service developments extra transparency And customer privacy proof-of-reserve system for they renewed announced. The upgrade that CZ announced, Vitalik Buterin’s zero-knowledge proof that he shared with users in November of last year (zk-SNARK) system’s proof of reserve integrated was done.
The CEO said in a statement that the proof-of-reserve system technology of greater privacy and security is an important one. my name stated it was. CZ ensures that all actors in the industry can feel safe in this system. open source He added that it is available and that anyone can use it if they wish.
FTX’s bankruptcy to central stock exchanges restoring confidence The system, put forward by Buterin, was created by the Ethereum founder on behalf of exchanges. vital was described as. Binance zk-SNARK before system Merkle Tree was using another proof-of-reserve verification system called