The sixth proof-of-reserves (PoR) report from OKX has been released. In November 2022, the corporation began this process with the goal of improving sector openness in the wake of the FTX collapse.
Recent PoR Report for OKX Shows $8.9 billion in Asset Value
The crypto exchange announced the release of the report in a tweet on its official Twitter account. The exchange has also improved its PoR system with this most recent edition by making total liabilities (the total amount of customer deposits) available to the public.
Even though the new transparency system made the total amount of user deposits available to the public, it nevertheless protects user privacy. This is achieved through a technique known as splitting leaf nodes, which involves separating and rearranging the account liabilities in the tree.
Lennix Lai’s Statements
In the OKX ecosystem, more than 300,000 users have checked the reserves or confirmed their responsibilities, according to Lennix Lai, managing director of global institutional at the crypto exchange. Lai claims that the crypto exchange, whose prior reserve audits have been the subject of numerous inquiries, will soon add zero-knowledge proof to its Proof of Reputation.
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