What does Proof of Reserves (PoR) prove?
Common Proof of Reserves systems use a Merkle tree to aggregate all users’ balances, and each user can use their own Merkle path to check whether their balance has been included.
Binance launched Proof of Reserves in November 2022 and introduced zk-SNARK zero-knowledge proofs in February 2023.
When managing positions, the most important thing to remember is to check the snapshot date and the range of assets covered when reading a reserves report—don’t just look at the overall reserve ratio.
$BNB 679.98 (+0.19%)
Common Proof of Reserves systems use a Merkle tree to aggregate all users’ balances, and each user can use their own Merkle path to check whether their balance has been included.
Binance launched Proof of Reserves in November 2022 and introduced zk-SNARK zero-knowledge proofs in February 2023.
When managing positions, the most important thing to remember is to check the snapshot date and the range of assets covered when reading a reserves report—don’t just look at the overall reserve ratio.
$BNB 679.98 (+0.19%)
