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Binance deploys zk-SNARKs on proof-of-reserves system

Binance deploys zk-SNARKs on proof-of-reserves system

Binance, the biggest centralized cryptocurrency exchange by volume, has added zk-SNARKs’ zero-knowledge proof system to its proof-of-reserves (PoR) verification system to attest that funds held on the platform are backed 1:1.

The exchange made this addition in response to growing concerns from investors about the safety of their funds on cryptocurrency exchanges.

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