Click Here To claim Proof of Reserve
👤 Newbie: Hold on… How do I really know Binance is holding my assets safely? 🤔
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@BHEEM_BONG : Simple, my friend! Binance’s Proof of Reserves (PoR) system lets you verify your funds independently. No guessing—just pure, transparent blockchain magic. 🚀
👤 Newbie: Okay, but how does it actually work?
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@BHEEM_BONG Let’s break it down into 4 key steps:
✅ 1. Verify Binance’s Ownership of Wallets
Binance ensures that all wallets—whether hot or cold storage—are actually owned by Binance and used to back user reserves. No funny business! 🔐
✅ 2. Snapshot of Your Balances
At a specific date & time, Binance captures a snapshot of your account balance. This is locked in and forms the foundation of your verification. 📸
✅ 3. Zero-Knowledge Proof (zk-SNARKs)
Sounds complex? It is! But here’s the simple version: Binance creates a cryptographic proof (zk-SNARKs) that lets you verify your funds without exposing private data. 🕵️♂️
✅ 4. The Merkle Tree Magic 🌳
Your account balance gets hashed and added to a Merkle Tree—a blockchain structure where every user’s data is linked. If anyone tries to mess with the records, the whole tree changes, ensuring absolute transparency!
👤 Newbie: So I can check my own balance in this system?
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@BHEEM_BONG YES! Here’s how:
🔍 Go to the PoR Page
📅 Select your verification date
🔢 Find your Record ID & Merkle Leaf
✅ Use this data to confirm your balance in the auditor’s report
👤 Newbie: Whoa, so I can independently verify that my funds are safe?
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@BHEEM_BONG Exactly! No more blind trust—just on-chain proof. Binance is setting the standard for transparency in crypto.
👤 Newbie: Alright, I’m sold! Where do I check my Proof of Reserves?
👉 Head to Binance’s PoR Page & verify your funds NOW!
#CryptoTransparency #proofofreserve #MerkleTree #BinancePORTAL #zkSNARKs