Gate introduces Proof of Security standard for crypto exchanges
Photo: Crypto Briefing
Gate's new framework asks whether an exchange can lose its entire hot wallet and still make every customer whole Most crypto exchanges can show you they hold your money. Gate wants to show it can lose a big chunk of that money and still pay you back. The exchange has rolled out what it calls a Proof of Security framework, or PoSEC. It arrives one week after Binance suffered what has been described as the largest crypto theft on record. The timing is not subtle. Gate founder and CEO Lin Han’s pitch is simple.
Source: Crypto Briefing
