Binance Makes Latest Reserve Proof Available for 1:1 Checks
Photo: TokenPost
Binance says its latest zero-knowledge proof is ready, letting users check whether balances held on the exchange have at least 1:1 reserve backing. The exchange announced the status Nov. 6. The check applies to a user's balance shown on Binance and compares it with the reserves included in the latest proof-of-reserves snapshot. At least 1:1 backing means the reserve amount associated with a covered balance is equal to or greater than that balance. The proof gives users a way to test the stated coverage for their account.
Source: TokenPost
