• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Binance implements zk-SNARKs technological innovation for evidence of reserves

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Cryptocurrency exchange Binance mentioned it has integrated zk-SNARKs verification technological innovation into its Proof-of-Reserves asset verification portal.

Binance implements zk-SNARKs technological innovation for evidence of reserves

On February ten, Binance CEO Changpeng Zhao announced that he had integrated zk-SNARK’s zero-understanding evidence verification mechanism into the Proof-of-Reserves consumer asset verification procedure.

Related articles

New CEO Richard Teng wants to turn Binance into "a normal financial company"

New CEO Richard Teng desires to flip Binance into “a normal financial company”

November 27, 2023
Binance Labs invests $3.15 million in Open Campus, EDU builds columns

Binance Labs invests $three.15 million in Open Campus, EDU builds columns

November 27, 2023

Improving transparency is an ongoing hard work. This new PoR procedure with zk-SNARK is @Vitalik Buterinconcept (or suggestion). We put into action it now. Keep setting up. https://t.co/ijVVeF7KQl

—CZ Binance (@cz_binance) February 10, 2023

Proof-of-Reserves is an initiative launched by Binance in December 2022, following the collapse of FTX. This is a instrument to aid Binance consumers verify irrespective of whether their deposits are held by the exchange or have been commingled and made use of by the exchange for other functions.

Binance Proof-of-Reserves initially made use of Merkle Tree, a framework that pulls information from the blockchain. However, just after acquiring suggestions that Merkle Tree did not ensure consumer privacy, Binance made the decision to switch to zk-SNARK technological innovation.

zk-SNARKs is a zero-understanding evidence encryption alternative that fundamentally ensures the authenticity of sure data, but does not reveal what that data is.

Still, Binance will open supply the zk-SNARKs alternative for crypto consumers to see and price the code, making sure transparency.

In addition, Binance has also additional four new tokens to the Proof-of-Reserves verification help listing, bringing the quantity to 13, together with: BTC, ETH, BNB, BUSD, USDT, USDC, XRP, SOL, Hyperlink, TRX , LTC , Level, SHIB.

In distinct, Binance CEO Changpeng Zhao unveiled that he was inspired by the zk-SNARKs of Ethereum founder Vitalik Buterin’s proposal.

Synthetic currency68

Maybe you are interested:

Maybe you are interested:

Tags: BinanceImplementsProofreservestechnologyzkSNARKs
Share76Tweet47

Related Posts

Bitcoin Faces Volatile Market as Net Taker Volume Surges

by shark
June 27, 2025
0

Bitcoin nears a volatile market shift as the Net Taker Volume on Binance exceeds $100M.

OORT DataHub Launches DeAI App on Binance Wallet

by shark
June 27, 2025
0

OORT DataHub integrates its DeAI dApp on Binance Wallet, reaching 486 million users.

World Liberty Financial Prepares WLFI Transferability Amid Rising Demand

by shark
June 27, 2025
0

World Liberty Financial to make WLFI tokens transferable, spurring institutional interest and market activity.

Metaplanet Surpasses Tesla in Bitcoin Holdings

by shark
June 27, 2025
0

Metaplanet Inc., a Japan-listed firm, eclipses Tesla Inc. in Bitcoin holdings with a strategic acquisition, impacting market sentiment and stock...

Binance Delists Five Tokens, Ending Spot Trading Soon

by shark
June 27, 2025
0

Binance will end spot trading for tokens ALPHA, BSW, KMD, LEVER, and LTO based on an official announcement.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Bitcoin Faces Volatile Market as Net Taker Volume Surges
  • OORT DataHub Launches DeAI App on Binance Wallet
  • Qubetics Nears $0.40 Listing as Solana and Avalanche Shift During Ceasefire – Next Bull Run Crypto?
  • World Liberty Financial Prepares WLFI Transferability Amid Rising Demand
  • Metaplanet Surpasses Tesla in Bitcoin Holdings
  • Binance Delists Five Tokens, Ending Spot Trading Soon
  • Deribit and SignalPlus Launch $300K Trading Contest
  • Metaplanet Acquires 1,234 BTC Amid Profitable Strategy
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7