In latest developments, Binance CEO CZ, has recommended that all crypto exchanges should do merkle-tree proof-of-reserves. He further suggested that crypto exchanges should not run on fractional reserves, unlike banks.
CZ reassured his 7.3 million Twitter followers that Binance too would start proof-of-reserves for full transparency in order to avoid future doubts and concerns about the reserve balance.
All crypto exchanges should do merkle-tree proof-of-reserves.
Banks run on fractional reserves.
Crypto exchanges should not.@Binance will start to do proof-of-reserves soon. Full transparency.
— CZ Binance (@cz_binance) November 8, 2022
The post Binance To Start Proof Of Reserves For Full Transparency – CZ appeared first on CoinGape.
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