Crypto trivia 📚 Proof of Reserves
Proof of Reserves commonly uses a Merkle tree to aggregate all users’ balances. Each user can use their own Merkle path to check whether their balance has been included.
Binance launched its Proof of Reserves in November 2022 and added zk-SNARK zero-knowledge proofs in February 2023.
Learning this won’t make me instantly stronger, but it can help me avoid one more rookie mistake.
In Binance’s Proof of Reserves, users can independently verify whether assets such as $BNB in their account have been included. Current: 740.13.
#BNB
Proof of Reserves commonly uses a Merkle tree to aggregate all users’ balances. Each user can use their own Merkle path to check whether their balance has been included.
Binance launched its Proof of Reserves in November 2022 and added zk-SNARK zero-knowledge proofs in February 2023.
Learning this won’t make me instantly stronger, but it can help me avoid one more rookie mistake.
In Binance’s Proof of Reserves, users can independently verify whether assets such as $BNB in their account have been included. Current: 740.13.
#BNB