{"id":73257,"date":"2023-01-30T15:21:25","date_gmt":"2023-01-30T13:21:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73257"},"modified":"2025-09-09T13:11:18","modified_gmt":"2025-09-09T10:11:18","slug":"binance-to-build-a-metaverse-and-deploy-zk-snark-based-solutions","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-to-build-a-metaverse-and-deploy-zk-snark-based-solutions\/","title":{"rendered":"Binance to build a metaverse and deploy zk-SNARK-based solutions"},"content":{"rendered":"<p>The cryptocurrency exchange Binance outlined plans for 2023, including the development of solutions to ensure transparency in the platform&#8217;s operations and the creation of a metaverse. This is reported in the <a href=\"https:\/\/binance.com\/en\/blog\/community\/recap-product-ama-with-cz-and-mayur-870521089644441789\">the company&#8217;s blog<\/a>.<\/p>\n<p>According to Mayur Kamath, head of Binance&#8217;s product department, developers will continue to refine the concept launched at the end of 2022 <a href=\"https:\/\/forklog.com\/en\/news\/binance-launches-proof-of-reserves-feature-for-bitcoin-holders\"><span data-descr=\"proof of reserves\" class=\"old_tooltip\">Proof-of-Reserves<\/span><\/a>. They are now preparing the release of several products based on <a href=\"https:\/\/forklog.com\/en\/news\/what-are-rollups-and-how-do-they-scale-ethereum\"><span data-descr=\"zero-knowledge proof\" class=\"old_tooltip\">zk-SNARK<\/span><\/a> to implement a Proof-of-Solvency mechanism. It will enable the exchange&#8217;s solvency to be verified.<\/p>\n<p>Binance also plans to reach 1 billion verified users by optimising the <span data-descr=\"Know Your Customer \u2014 Know Your Customer\" class=\"old_tooltip\">KYC<\/span>-procedures.<\/p>\n<p>At the same time, the platform is exploring the possibility of creating its own metaverse. Binance&#8217;s CEO Changpeng Zhao did not disclose details of the project, but said it would definitely run on Binance Coin.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBut since we are not yet building games and we do not have a game-design team, the exchange is more open to investments in other virtual-reality projects or metaverse games,\u201d Zhao clarified.<\/p>\n<\/blockquote>\n<p>Similar investments are planned in the DeFi segment as well.<\/p>\n<p>Binance will continue to engage with regulators in various jurisdictions to comply with their requirements and optimise the user experience.<\/p>\n<p>In December 2021, the Binance Smart Chain ecosystem development fund, with a capital of $1 billion <a href=\"https:\/\/forklog.com\/en\/news\/binance-smart-chain-ecosystem-development-fund-invests-in-gamefi-platform-crypto-gaming-united\">invested in the crypto-gaming platform<\/a> Crypto Gaming United.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Binance outlined plans for 2023, including the development of solutions to ensure transparency in platform operations and the creation of a metaverse.<\/p>\n","protected":false},"author":1,"featured_media":73258,"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":[744,1353,1371,1361,878],"class_list":["post-73257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-metaverses","tag-proof-of-reserves","tag-virtual-world-innovations","tag-zk-snarks"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73257","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=73257"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73257\/revisions"}],"predecessor-version":[{"id":73259,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73257\/revisions\/73259"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/73258"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=73257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=73257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=73257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}