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How does Proof of Reserve work?

 

The failure of cryptocurrency exchange, FTX led to the creation of the phrase “Proof of Reserve”. Changpeng Zhao (CEO of Binance), stated that all crypto exchanges should have Merkle-tree proofs-of-reserves on November 9. Crypto exchanges shouldn’t be running on fractional reserves like banks. Binance will soon begin to provide proof-of-reserves. Full transparency.”
How Proof Of Reserve Works? CoinGape was the first to publish this article.

 

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