zk-SNARKs Explained - Binance’s Proof of Reserves System

Take a look under the hood of Binance’s new proof-of-reserves solution. Combining zk-SNARKs and Merkle tree information, it gives users a new and improved way of verifying the state of Binance’s reserves.

Main Takeaways

In November 2022, Binance released its Proof of Reserves system utilizing Merkle tree cryptography to allow users to verify their holdings.

Binance has now improved its solution by implementing zk-SNARKs, a form of zero-knowledge proof.

Users can now check that each account’s total net balance is non-negative and that all user assets are part of Binance’s claimed total net balance of user assets – in a private and secure manner.


Download the Binance app: https://binance.onelink.me/y874/cb98de36

Follow Binance:
Twitter: https://twitter.com/binance
Facebook: https://www.facebook.com/binance
Instagram: https://www.instagram.com/binance
TikTok: https://www.tiktok.com/@binance
Reddit: https://www.reddit.com/r/binance

About #binance :
Binance is the world’s leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume.

All opinions and actions expressed and undertaken by the host are individual opinions and actions only and do not reflect the opinions and actions of Binance. #Binance cannot and does not guarantee the accuracy, applicability, reliability, integrity, performance or appropriateness of the content of this video, nor shall Binance be liable for any loss or damage that may be caused directly or indirectly by your use of these contents.

Binance is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities affected by you. No communication or information provided to you by Binance is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice.

Binance does not recommend that any digital asset should be bought, earned, sold, or held by you. Before making the decision to buy, sell or hold any digital asset, you should conduct your own due diligence and consult your financial advisors prior to making any investment decision. Binance will not be held responsible for the decisions you make to buy, sell, or hold digital assets.