The zero-knowledge proof (zk-SNARKs) for Binance’s October 31 proof-of-reserves snapshot has been generated, a day ahead of schedule. Binance confirmed this in an announcement posted on November 2.
First, let’s look at what can be verified this time. Independent verification is currently supported for ten core tokens: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC. These are also the tokens that were previously topped up to 100% reserves. If you hold any of them, you can now download the verification tool from the PoR page on the official website, run it yourself, and check whether your balance is backed by at least a 1:1 reserve ratio. You don’t have to rely solely on the percentages reported by Binance—the data can be verified independently.
There are two upcoming milestones to keep an eye on. First, Binance plans to generate a new snapshot on November 4. It will cover more tokens than the ten included in the current snapshot. Second, generating zero-knowledge proofs requires a huge amount of computation: each complete proof takes about 40 to 50 hours to generate. So when the new snapshot covers more assets, generating the corresponding proof will take time.
As for the practical significance of this development: the proof has been generated, and users can check it for themselves. That’s a good thing—it means we’ve moved beyond simply “looking at a few screenshots posted by Binance.” But it’s important to understand the limits: the reserves for these ten core tokens have already been topped up, so they should be verifiable. The remaining long-tail tokens, which are less liquid, are not covered by this proof yet. We’ll have to wait for the next snapshot and proof after November 4. What can be verified now is the ten fully topped-up asset pools, not the entire reserve portfolio.
#币安10月31日储备金证明快照零知识证明已生成
Disclaimer: The above is based on Binance’s official announcements and publicly available information. It is intended solely to summarize facts and discuss the mechanism, and does not constitute investment advice or an overall assessment of the platform’s security. Please verify independently and bear responsibility for your own decisions.$BNB $SOL $HYPE
First, let’s look at what can be verified this time. Independent verification is currently supported for ten core tokens: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC. These are also the tokens that were previously topped up to 100% reserves. If you hold any of them, you can now download the verification tool from the PoR page on the official website, run it yourself, and check whether your balance is backed by at least a 1:1 reserve ratio. You don’t have to rely solely on the percentages reported by Binance—the data can be verified independently.
There are two upcoming milestones to keep an eye on. First, Binance plans to generate a new snapshot on November 4. It will cover more tokens than the ten included in the current snapshot. Second, generating zero-knowledge proofs requires a huge amount of computation: each complete proof takes about 40 to 50 hours to generate. So when the new snapshot covers more assets, generating the corresponding proof will take time.
As for the practical significance of this development: the proof has been generated, and users can check it for themselves. That’s a good thing—it means we’ve moved beyond simply “looking at a few screenshots posted by Binance.” But it’s important to understand the limits: the reserves for these ten core tokens have already been topped up, so they should be verifiable. The remaining long-tail tokens, which are less liquid, are not covered by this proof yet. We’ll have to wait for the next snapshot and proof after November 4. What can be verified now is the ten fully topped-up asset pools, not the entire reserve portfolio.
#币安10月31日储备金证明快照零知识证明已生成
Disclaimer: The above is based on Binance’s official announcements and publicly available information. It is intended solely to summarize facts and discuss the mechanism, and does not constitute investment advice or an overall assessment of the platform’s security. Please verify independently and bear responsibility for your own decisions.$BNB $SOL $HYPE