- The exchange completed the renewal of the zk-STARK certificate
- She added 18 cryptocurrencies for PoR verification
- Let’s look at the exact statistics
Crypto exchange OKX reported on the completion of the renewal of the Proof of Reserves verification certificate. Recall that now it is based on zk-STARK (zero-knowledge proof) technology. Initially, the certificate included 3 coins – BTC, ETH and USDT. The exchange added 18 more cryptocurrencies, bringing the total to 21.
OKX asset structure
Interestingly, compared to the figures disclosed in March, we see some changes. So, bitcoin assets of OKX users decreased by about 7051 BTC. USDT assets increased by 1.1 billion coins.
The amount of USDC owned by OKX users is only 270 million, which is 1/15 of the amount of USDT.
The collapse of several significant crypto companies last year caused great concern among investors. To remedy this, platforms have started providing Proof of Reserves reports. They confirm their accumulated reserves over the past few months. The first such initiative was proposed by the head of Binance, Changpeng Zhao.
The OKX exchange publishes its monthly report for the 6th time. This time it includes a more detailed asset balance dashboard.
In February, Binance introduced an update to the Proof of Reserves system based on zk-SNARK. Now other crypto exchanges are implementing this practice.