OKX will upgrade its proof of reserves to include a complete Merkle Tree disclosure and zero-knowledge proof

2023-03-02 19:15:33

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ChainCatcher news, OKX announced that it will upgrade its Proof of Reserves (PoR) to include a complete Merkle Tree disclosure and Zero-Knowledge Proof (ZKP) to verify PoR solvency. OKX stated that the upgrade is based on its current Merkle Tree solution: the complete Merkle Tree will take effect in the upcoming March PoR report, allowing anyone to download the complete Merkle Tree to enhance transparency. At the same time, it will maintain account balance privacy by splitting and recomposing each user's balance into several parts (splitting leaf nodes); the Zero-Knowledge Proof upgrade will take effect in the coming months, which is a tamper-proof cryptographic method that allows users to verify that all customer deposits are accounted for and ensures solvency by comparing the net asset value of users with the exchange's reserves.

The most recent Proof of Reserves from OKX showed that the exchange holds $8.6 billion in BTC, ETH, and USDT, with the next monthly PoR expected to be released around March 20. (source link)

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OKX Proof of Reserves

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