Binance’s Yi He Says Latest Proof of Reserves Is Verifiable Via ZKProof, Backed at Minimum 1:1
Minseung Kang
Summary
- Yi He said the latest Proof of Reserves can now be verified using zero-knowledge proofs (ZKProof).
- She said users can directly check whether assets held on Binance are backed at a minimum 1:1 ratio.
- She said there may be a time lag between the completion of the Proof of Reserves process and the point at which users can verify it, and that the gap varies depending on the size of the assets.
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Binance co-founder Yi He said the exchange’s latest Proof of Reserves, or PoR, can now be verified through zero-knowledge proofs, or ZKProof.
In a post on X, formerly Twitter, on November 6, Yi said users can directly check whether assets held on Binance are backed at a minimum 1:1 ratio.
She added that there may be a lag between the completion of the Proof of Reserves process and the point at which users are able to verify it themselves.
The gap typically depends on the size of the assets being verified and is not something Binance can adjust at will.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.