🗒️ Blockchain Industry | Proof of Reserves
· Definition: Binance introduced proof of reserves in November 2022 and zk-SNARK zero-knowledge proofs in February 2023.
· What it means: Proof of reserves only shows how reserves cover user balances at the time of the snapshot; it cannot fully reflect the platform’s other liabilities or business operations.
· Note: When reviewing a reserve report, check the snapshot date and the range of assets covered. Don’t look only at the overall reserve ratio.
$BNB 744.11（+0.78%）
#BNB
· Definition: Binance introduced proof of reserves in November 2022 and zk-SNARK zero-knowledge proofs in February 2023.
· What it means: Proof of reserves only shows how reserves cover user balances at the time of the snapshot; it cannot fully reflect the platform’s other liabilities or business operations.
· Note: When reviewing a reserve report, check the snapshot date and the range of assets covered. Don’t look only at the overall reserve ratio.
$BNB 744.11（+0.78%）
#BNB