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CoinGape

2022-11-27 12:59:31

How Proof Of Reserve Works?

How Proof Of Reserve Works?

The phrase “Proof of Reserve” originated as a result of the failure of cryptocurrency exchange FTX. According to statements made by Changpeng Zhao, CEO of Binance, on November 9, “all crypto exchanges should do Merkle-tree proof-of-reserves. Banks run on fractional reserves, Crypto exchanges should not. Binance will start to do proof-of-reserves soon. Full transparency.” What The post How Proof Of Reserve Works? appeared first on CoinGape .

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