Dogecoin (DOGE) now added to Binance proof of reserves DOGE $DOGE
According to it, with the addition of the 11 crypto assets, the overall amount of funds now verifiable via Binance's proof-of-reserves system now exceeds $63 billion. The total of verifiable assets on Binance is now 24.
It further ensures that user funds are always collateralized at a 1:1 ratio on the crypto exchange, plus additional reserves. Binance's proof-of-reserves system was unveiled in late 2022 as part of a larger initiative to give customers more transparency and employ Merkle trees to add up on-chain data.Last month, Binance implemented zk-SNARKs, zero-knowledge algorithms that improve the privacy and security of user data throughout the verification process, as part of a significant update to its PoR system.
After some pressure from the community, Binance added a link to a Dogecoin wallet containing proof of assets for its BSC-Doge in June 2022.
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