Singapore and Nigeria secured the first two positions in the global search for countries interested in PoR.
Singapore secured the first position with the highest score of 100 for the proof of reserves, merkle tree, and merkle root.
Hong Kong, Australia, and the Netherlands secured the third, fourth and fifth ranks respectively.
From worldwide research on the countries interested in Proof of Reserves, carried out by the prominent cryptocurrency data aggregator CoinGecko, Singapore and Nigeria secured the first two positions in the ranking, with 20.5% and 14.1% respectively.
Notably, the other two countries on the top list are Hong Kong (11.4), Austria (7.8%), and the Netherlands (7.0%). The total share of all five countries constitutes 60.8% as of December 8.
Proof of Reserve (PoR) is a verifiable auditing procedure done by an automated third party to ensure the transparency of holdings. PoR was a consensus method adopted by many crypto exchanges as a means to beat the series of losses the crypto space confronted after the fall of the crypto exchange FTX. Such an adoption aimed at providing transparency on the activities to reassure the confused customers.
Singapore, being the crypto hub, became the top country interested in PoR, scoring the highest of 100 on ‘proof of reserves’, merkle tree’, and � ...
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