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Binance publishes official Merkle Tree-based proof of reserves By Cointelegraph



Binance publishes official Merkle Tree-based proof of reserves

Two weeks after Binance initially pledged to develop a proof-of-reserve (PoR) mechanism in response to the FTX liquidity and bankruptcy fiasco, it published its official response.

In an announcement on the Binance website, the exchange outlined how users can use the mechanism to verify its holdings. Currently, the only token available to verify through the Merkle Tree-based system is (BTC), though the announcement says additional coins will be added in the coming weeks.