{"id":14454,"date":"2022-11-12T16:54:56","date_gmt":"2022-11-12T16:54:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/proof-of-reserves-concept-gains-traction-as-major-crypto-exchanges-provide-wallet-lists-and-promise-full-audits-exchanges-bitcoin-news\/"},"modified":"2022-11-12T16:54:56","modified_gmt":"2022-11-12T16:54:56","slug":"proof-of-reserves-concept-gains-traction-as-major-crypto-exchanges-provide-wallet-lists-and-promise-full-audits-exchanges-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/proof-of-reserves-concept-gains-traction-as-major-crypto-exchanges-provide-wallet-lists-and-promise-full-audits-exchanges-bitcoin-news\/","title":{"rendered":"Proof-of-Reserves Concept Gains Traction as Major Crypto Exchanges Provide Wallet Lists and Promise Full Audits \u2013 Exchanges Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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When it was first discovered that FTX might be insolvent, a large slew of crypto exchange executives said that they aimed to provide proof-of-reserves audits. While exchanges like Binance and Crypto.com have provided wallet addresses tied to company wallets, blockchain analytics firm Nansen has detailed the company is in the midst of creating a display of crypto exchange proof-of-reserves.<\/strong><\/p>\n

Proof-of-Reserves Concept Pushes Proof-of-Solvency to the Forefront of Crypto Conversations<\/h2>\n

Three days ago, amid the chaos surrounding FTX, a group of crypto exchange executives detailed<\/a> that they planned to provide proof-of-reserves via a Merkle tree and full audits. Following the discussions, Binance disclosed<\/a> the company\u2019s hot and cold wallet addresses and Crypto.com\u2019s CEO Kris Marszalek shared<\/a> his firm\u2019s addresses.<\/p>\n

The blockchain analytics firm Nansen has gotten involved and the company is building a proof-of-reserves dashboard to display exchange reserves. \u201cWe are working with exchanges to display proof-of-reserves on [Nansen] for everyone to track their token holdings and transactions,\u201d Nansen detailed on Nov. 11.<\/p>\n

\"Proof-of-Reserves
Nic Carter is pleased to see proof-of-reserves enthusiasm, saying it\u2019s one silver lining to the FTX collapse.<\/figcaption><\/figure>\n

Nansen shared a current list of exchange portfolios and said that it would update the thread when more exchanges joined. So far, the thread includes exchanges such as Binance<\/a>, Crypto.com<\/a>, Okx<\/a>, Kucoin<\/a>, and Deribit<\/a>. Bitfinex CTO Paolo Ardoino has also shared<\/a> Bitfinex\u2019s reserve list as well, alongside a Github repo<\/a> that hosts the trading platform\u2019s addresses.<\/p>\n

\u201cBitfinex also developed in the past an open-source library called Antani,\u201d Ardoino added<\/a>. \u201cProof of Solvency, Custody and Off-chain Delegated Proof of Vote. We plan to revive it and have a way for users to cryptographically verify their balances respecting their privacy.\u201d<\/p>\n

In addition to Crypto.com, Okx, Kucoin, Binance, Bitfinex, and Deribit, the crypto exchange Bybit promises<\/a> to release proof-of-reserves. Cake Defi has also provided<\/a> a compiled list of reserves as well. Reports further note<\/a> that Huobi and Poloniex have plans to share proof-of-reserves.<\/p>\n

Exchanges listed on Nic Carter\u2019s proof-of-reserves list or \u201cWall of Fame<\/a>,\u201d include Kraken, Bitmex, Nexo, Coinfloor, HBTC, Gate.io, and Ledn. Coinfloor, HBTC, Gate.io, and Ledn\u2019s reserve assessments are older than Kraken and Bitmex\u2019s. Nic Carter\u2019s proof-of-reserves list says Nexo provides daily attestations.<\/p>\n

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Binance<\/a>, Binance CEO<\/a>, BitFinex<\/a>, BitMex<\/a>, Bybit<\/a>, Coinfloor<\/a>, Crypto.com<\/a>, Crypto.com\u2019s CEO<\/a>, deribit<\/a>, full audits<\/a>, gate.io<\/a>, HBTC<\/a>, Huobi<\/a>, Kraken<\/a>, Kris Marszalek<\/a>, KuCoin<\/a>, ledn<\/a>, Nexo<\/a>, nic carter<\/a>, Okx<\/a>, Poloniex<\/a>, Proof of Reserves<\/a>, Proof-of-Reserves Concept<\/a>, Proof-of-Solvency<\/a>, Wall of Fame<\/a><\/div>\n<\/div>\n

What do you think about all the crypto exchanges providing proof-of-reserves lists and promising audits and attestations in the near future? Let us know your thoughts about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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