Binance announced the launch of the asset reserve proof system, and adopted the Merkle tree data structure. It will push the work of keeping user assets transparent to a new process.
The system will provide users with proof of BTC assets at the beginning of its launch, and will gradually support more assets and networks in the next few weeks.
According to the first batch of audit results, the current reserve on the BTC chain is 582,485.9302 BTC, the user’s net balance is 575,742.4228 BTC, and the reserve ratio is 101%.
The results of the second batch of asset reserve certificates will be announced in the next two weeks, and more assets will be included at that time. CZ, Founder and CEO of Binance, said: “Given recent events, we see that the community’s demands on cryptocurrency exchanges will far exceed the current demands on traditional financial institutions. This is why we are happy to provide users with the latest This verification function, to verify that their funds are safe.”