PRESS RELEASE. Gate.io has announced that it will commence another proof-of-reserves audit to provide user verifiable reserves data through a Merkle tree implementation audited by a leading third-party firm.
In 2020, as the first cryptocurrency exchange in the world to commit to providing 100% collateral, Gate.io has worked closely with Armanino LLP, a leading US audit firm, to successfully provide users with professional and credible asset verification services in an open-source, transparent, and cryptographically-verifiable Merkle tree. The asset verification model was patented by Gate.io in 2020. Performing PoR audits in this model has become one of the commonplaces for exchanges to verify asset security, and Gate.io has set a standard for the industry in asset security verification.
Proof-of-reserves audits in a nutshell
In centralized exchanges, users’ cryptocurrency balances are recorded in a centralized ledger; we’ll refer to this as “effective user reserves.” Additionally,...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...