{"id":71782,"date":"2022-12-21T17:49:12","date_gmt":"2022-12-21T15:49:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71782"},"modified":"2025-09-08T11:05:44","modified_gmt":"2025-09-08T08:05:44","slug":"bitstamp-us-chief-calls-proof-of-reserves-key-to-restoring-trust-in-exchanges","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitstamp-us-chief-calls-proof-of-reserves-key-to-restoring-trust-in-exchanges\/","title":{"rendered":"Bitstamp US Chief Calls Proof-of-Reserves Key to Restoring Trust in Exchanges"},"content":{"rendered":"

The Proof-of-Reserves<\/span> (PoR) procedure can restore retail investors’ trust in exchange platforms. In an interview with The Block<\/a>, Bitstamp US chief Bobby Zagotta said.<\/p>\n

In the executive’s view, PoR provides clients with more information about how centralized platforms manage their customers’ assets.<\/p>\n

\n

\u201cOn the one hand, how many exchanges operate is rather opaque. On the other hand, blockchain technology creates the possibility for radical transparency. [\u2026]<\/em> PoR will allow clients to see that the assets on the exchange exceed its liabilities,\u201d<\/em> he said.<\/p>\n<\/blockquote>\n

Zagotta acknowledged that the current method is \u201cnot ideal\u201d and is nothing more than a \u201csnapshot.\u201d<\/p>\n

Earlier Kraken co-founder Jess Powell criticised<\/a> Binance’s reserve-data audit. According to him, it makes no sense without including liabilities.<\/p>\n

Earlier Ethereum founder Vitalik Buterin <\/a>, with a view to increasing PoR efficiency, proposed to employ<\/a> zk-SNARKs<\/a> as part of the procedure.<\/em><\/p>\n

Read ForkLog’s Bitcoin news on our Telegram \u2014 crypto news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Proof-of-Reserves (PoR) procedure can restore retail investors’ trust in trading platforms. In an interview with The Block, Bitstamp US chief Bobby Zagotta said.<\/p>\n","protected":false},"author":1,"featured_media":71783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[967,174,1138],"class_list":["post-71782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-audit","tag-bitstamp","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=71782"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71782\/revisions"}],"predecessor-version":[{"id":71784,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71782\/revisions\/71784"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/71783"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=71782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=71782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=71782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}