zk-SNARKs Explained - Binance’s Proof of Reserves System
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- Опубликовано: 28 фев 2023
- Take a look under the hood of Binance’s new proof-of-reserves solution. Combining zk-SNARKs and Merkle tree information, it gives users a new and improved way of verifying the state of Binance’s reserves.
Main Takeaways
In November 2022, Binance released its Proof of Reserves system utilizing Merkle tree cryptography to allow users to verify their holdings.
Binance has now improved its solution by implementing zk-SNARKs, a form of zero-knowledge proof.
Users can now check that each account’s total net balance is non-negative and that all user assets are part of Binance’s claimed total net balance of user assets - in a private and secure manner.
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All opinions and actions expressed and undertaken by the host are individual opinions and actions only and do not reflect the opinions and actions of Binance. #Binance cannot and does not guarantee the accuracy, applicability, reliability, integrity, performance or appropriateness of the content of this video, nor shall Binance be liable for any loss or damage that may be caused directly or indirectly by your use of these contents.
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