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CZ Announces zk-SNARK Proof-of-Reserve System Integration

Published 2023-02-10, 01:10 p/m
© Reuters.  CZ Announces zk-SNARK Proof-of-Reserve System Integration
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Coin Edition -

  • Binance CEO Chanpeng Zhao announces that Binance Proof-of-Reserve system has integrated with zk-SNARK.
  • The integration will be made open source, in the hopes of helping all of the crypto industry.
  • Upgraded PoR system supports 13 popular tokens.

The CEO of Binance Changpeng Zhao announced that the Binance Proof-of-Reserve (PoR) system has now been integrated with zk-SNARK, a zero-knowledge verification method, over a tweet.

Hoping that it would benefit the entire crypto community, Zhao adds that this integrated PoR system will also be made open source. He goes on to explain the upgrades made to the Binance PoR verification system over a Twitter thread.

Binance released its PoR system utilizing Merkle tree cryptography in November 2022, to allow users to verify their holdings. Zhao explains that they have upgraded their PoR system with zk-SNARK, a zero-…

The post CZ Announces zk-SNARK Proof-of-Reserve System Integration appeared first on Coin Edition.

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