{"id":78040,"date":"2023-04-28T17:57:21","date_gmt":"2023-04-28T14:57:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78040"},"modified":"2025-09-11T02:38:33","modified_gmt":"2025-09-10T23:38:33","slug":"okx-updates-proof-of-reserves-with-zk-starks","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/okx-updates-proof-of-reserves-with-zk-starks\/","title":{"rendered":"OKX updates Proof-of-Reserves with zk-STARKs"},"content":{"rendered":"<p>The Bitcoin exchange OKX updated its Proof-of-Reserves (PoR) procedure by adding support for zero-knowledge <a href=\"https:\/\/forklog.com\/en\/news\/what-are-rollups-and-how-do-they-scale-ethereum\">zk-STARKs<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u26a1\ufe0f <a href=\"https:\/\/twitter.com\/hashtag\/OKX?src=hash&#038;ref_src=twsrc%5Etfw\">#OKX<\/a> Proof of Reserves (PoR) is now powered by zero-knowledge (ZK) proof technology \u26a1\ufe0f<\/p>\n<p>Our April PoR report offers industry-leading privacy protection via zk-STARKs and shows 100% reserve ratios for <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>, <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>, <a href=\"https:\/\/twitter.com\/search?q=%24USDT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDT<\/a>, &#038; 18 additional assets.<\/p>\n<p>Verify: <a href=\"https:\/\/t.co\/CDPCCaEuWg\">https:\/\/t.co\/CDPCCaEuWg<\/a> <a href=\"https:\/\/t.co\/DonPfh8nn3\">pic.twitter.com\/DonPfh8nn3<\/a><\/p>\n<p>\u2014 OKX (@okx) <a href=\"https:\/\/twitter.com\/okx\/status\/1651862919687069698?ref_src=twsrc%5Etfw\">April 28, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The new system allows users to independently verify assets while preserving confidentiality. The platform&#8217;s liabilities are not disclosed.<\/p>\n<p>The event coincides with the April PoR report.<\/p>\n<p>The latest assessment confirmed 100% reserves for Bitcoin, Ethereum, USDT and 18 other digital assets. The aggregate value of cryptocurrencies that passed PoR this month rose from $8.9 billion to $10.7 billion.<\/p>\n<p>In November 2022, Binance <a href=\"https:\/\/forklog.com\/en\/news\/binance-launches-proof-of-reserves-feature-for-bitcoin-holders\">launched<\/a> PoR among CEXs.<\/p>\n<p>Initially, the company provided information on the coverage of user deposits in the first cryptocurrency. The Binance team <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-merkle-tree\">Merkle Tree<\/a> was used to verify on-chain data.<\/p>\n<p>Subsequent initiatives were adopted 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>Several experts <a href=\"https:\/\/forklog.com\/en\/news\/jesse-powell-criticises-binances-proof-of-reserves-function\">have cast doubt on<\/a> the effectiveness of such checks, noting that the indicators <a href=\"https:\/\/forklog.com\/en\/news\/experts-warn-of-alarming-signals-in-mazars-report-on-binance-reserves\">do not indicate the safety of users&#8217; assets<\/a>.<\/p>\n<p>In February 2023, Binance <a href=\"https:\/\/forklog.com\/en\/news\/binance-integrated-zk-snark-into-its-proof-of-reserves-mechanism\">implemented<\/a> a zk-SNARK tool into the PoR system to enhance security and privacy. The use of the technology <a href=\"https:\/\/forklog.com\/en\/news\/vitalik-buterin-proposed-using-zk-snarks-to-verify-exchange-reserves\">was proposed<\/a> by Ethereum co-founder Vitalik Buterin.<\/p>\n<p>As reported in December 2022, a representative of the U.S. <span data-descr=\"Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/sec-urges-investors-not-to-trust-bitcoin-exchange-audits\">urged<\/a> investors to be &#8216;very cautious&#8217; about audits of crypto exchange reserves. In his view, such checks do not always reflect the true financial state of the company.<\/p>\n<p>In March 2023, Senators Elizabeth Warren and Ron Wyden <a href=\"https:\/\/forklog.com\/en\/news\/us-senators-urge-crackdown-on-fake-audits-of-crypto-firms\">called on<\/a> authorities to take action against &#8216;fake audits&#8217; of crypto projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OKX updates the Proof-of-Reserves procedure by adding zk-STARK zero-knowledge proofs.<\/p>\n","protected":false},"author":1,"featured_media":78041,"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":[1291,1371],"class_list":["post-78040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-okx","tag-proof-of-reserves"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78040","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=78040"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78040\/revisions"}],"predecessor-version":[{"id":78042,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78040\/revisions\/78042"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78041"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}