When asked, “What does Proof of Reserves (PoR) prove?”
I usually answer like this: Proof of Reserves (PoR) is publicly disclosed evidence from an exchange showing that the platform holds enough assets to cover users’ balances on the platform. Proof of Reserves only shows how reserves cover users’ balances at the time of the snapshot; it cannot fully reflect the platform’s other liabilities or operating conditions.
$BNB 731.06 (+1.06%)
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I usually answer like this: Proof of Reserves (PoR) is publicly disclosed evidence from an exchange showing that the platform holds enough assets to cover users’ balances on the platform. Proof of Reserves only shows how reserves cover users’ balances at the time of the snapshot; it cannot fully reflect the platform’s other liabilities or operating conditions.
$BNB 731.06 (+1.06%)
What topic would you like to see? Drop a comment below.
#BNB