Everyone, this is something we really need to understand: Proof of Reserves!
Binance introduced Proof of Reserves in November 2022 and added zk-SNARK zero-knowledge proofs in February 2023.
Proof of Reserves only shows the coverage of reserves against user balances at the moment of the snapshot; it cannot fully reflect the platform’s other liabilities or operating conditions.
In Binance’s Proof of Reserves, users can independently verify whether assets such as $BNB in their accounts have been included.
Save this and take a closer look later
#BNB
Binance introduced Proof of Reserves in November 2022 and added zk-SNARK zero-knowledge proofs in February 2023.
Proof of Reserves only shows the coverage of reserves against user balances at the moment of the snapshot; it cannot fully reflect the platform’s other liabilities or operating conditions.
In Binance’s Proof of Reserves, users can independently verify whether assets such as $BNB in their accounts have been included.
Save this and take a closer look later
#BNB
