{"id":73898,"date":"2023-02-10T13:39:00","date_gmt":"2023-02-10T11:39:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73898"},"modified":"2025-09-09T16:58:17","modified_gmt":"2025-09-09T13:58:17","slug":"binance-integrated-zk-snark-into-its-proof-of-reserves-mechanism","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-integrated-zk-snark-into-its-proof-of-reserves-mechanism\/","title":{"rendered":"Binance integrated zk-SNARK into its Proof-of-Reserves mechanism"},"content":{"rendered":"<p>The Binance exchange updated its proof-of-reserves (Proof-of-Reserves, PoR) verification procedure by including<a href=\"https:\/\/forklog.com\/en\/news\/what-are-rollups-and-how-do-they-scale-ethereum\"> zk-SNARK<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Our team made some upgrades to the <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> Proof of Reserves (PoR) verification system this week. <\/p>\n<p>\ud83e\uddf5 Here\u2019s a thread to summarise the updates. <a href=\"https:\/\/t.co\/TGFg4Q5WMu\">pic.twitter.com\/TGFg4Q5WMu<\/a><\/p>\n<p>\u2014 Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1623970859323990016?ref_src=twsrc%5Etfw\">February 10, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Currently available for verification are: BTC, ETH, BNB, USDT, BUSD, USDC, LTC, XRP, SOL, LINK, CHZ, DOT and SHIB.<\/p>\n<p>Users can verify that the aggregate net balance of each account is non-negative, and that all their assets are part of Binance&#8217;s declared total net balance of client funds.<\/p>\n<p>The team pledged to expand the number of coins whose holdings are verified via Proof-of-Reserves.<\/p>\n<p>The PoR code is open for inspection. Binance described the move as a bid to increase transparency for the community and to foster wider industry adoption of the technology.<\/p>\n<p>The exchange&#8217;s representatives are seeking feedback for potential improvements to the procedure.<\/p>\n<p>Earlier, initiatives in reserve verification were implemented by<a href=\"https:\/\/forklog.com\/en\/news\/bitget-launches-asset-custody-service-on-a-dedicated-wallet\"> Bitget<\/a>,<a href=\"https:\/\/twitter.com\/star_okx\/status\/1590211222976466944\"> OKX<\/a>, <a href=\"https:\/\/twitter.com\/gate_io\/status\/1590081823530708993\">Gate.io<\/a> and <a href=\"https:\/\/mobile.twitter.com\/HuobiGlobal\/status\/1590186880162988036\">Huobi<\/a>.<\/p>\n<p>Back in late January, Binance announced improvements to the <a href=\"https:\/\/forklog.com\/en\/news\/binance-launches-proof-of-reserves-feature-for-bitcoin-holders\">Proof-of-Reserves<\/a> concept launched in late 2022, based on<a href=\"https:\/\/forklog.com\/en\/news\/what-are-rollups-and-how-do-they-scale-ethereum\"> zk-SNARK<\/a>.<\/p>\n<p>The use of the technology was proposed by Vitalik Buterin, Ethereum co-founder. Binance CEO Changpeng Zhao pledged to implement the algorithm.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance updated its proof-of-reserves (PoR) verification procedure by including zk-SNARK.<\/p>\n","protected":false},"author":1,"featured_media":73899,"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":[744,1371,878],"class_list":["post-73898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-proof-of-reserves","tag-zk-snarks"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73898","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=73898"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73898\/revisions"}],"predecessor-version":[{"id":73900,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73898\/revisions\/73900"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/73899"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=73898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=73898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=73898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}