OKX, the second largest crypto exchange in terms of trade volume and users, announced early Friday that it had added sk-STARKS zero-technology to its Proof of Reserves system. The OKX team added:
Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) is a secure cryptographic method that verifies the accuracy and authenticity of OKX’s PoR while upholding user privacy – no account balances are visible to other parties.
Crypto Users Can Verify their Balances for 21 Digital Assets
In terms of reserve ratio, OKX stated that its reserves of Bitcoin, Ethereum and USDT are all held at a 103% ratio. In addition, crypto users of the exchange can now verify their balances for a total of 21 digital assets.
They include BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, OKT, PEOPLE, TON, TRX and UNI.
Lennix Lai, Chief Commercial Officer at OKX, said:
© Solana Daily Brief, Inc. All Rights Reserved. This article is for informational purposes only. It is not to be used as legal, tax, investment, financial, or other advice.Proof of Reserves is an indispensable way to demonstrate transparency and guarantee solvency, and builds user confidence and trust in the industry as a whole. OKX is committed to leading the crypto space when it comes to empowering users to verify reserves and liabilities in real time using trustless ‘future tools’ like Proof of Reserves.