Dear user:
To further enhance user asset transparency, Binance will deploy zk-SNARKs in its Proof of Reserve (PoR) system. zk-SNARKs is a zero-knowledge proof verification method that will improve the privacy and security of sensitive information.
In addition to the upgrade, the system also adds support for four new tokens: SHIB, DOT, CHZ, and SOL, bringing the total number of most popular verifiable token assets on the Binance platform to 13.
[Click to verify your assets on Binance platform]
The system will open source its code to increase transparency in the community and serve as a reference for other industry players to adopt the technology.
In the coming weeks, Binance will gradually support more token assets in the Proof of Reserve (PoR) system and continue to work hard to improve the reliability, security and privacy of the verification function.
This is the initial release of Binance’s deployment of zk-SNARKs, and we look forward to receiving feedback from the community to continue to improve and improve the system.
More information:
About the Reserve Proof System
How zk-SNARKs improve Binance’s proof-of-reserve system
About Merkle Tree
Promoting transparency of digital assets through zero-knowledge proofs
Thank you for your support of Binance!
Binance Team
February 10, 2023
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