admin 
Gate.io Reserve Proof Providing! Gate.io, the global cryptocurrency exchange, released an update concerning the Proof of Reserves (PoR) reports. Furthermore, the company aims to provide greater transparency and trust to its users by enhancing its PoR reports with zero-knowledge technology (zk-SNARKs).
Zero-knowledge technology is a method where user data cannot be altered or manipulated. With this technology, users can confidently confirm that their assets are kept in the exchange.
Gate.io stated that the zero-knowledge technology will make users feel safe in every aspect regarding the PoR reports. It said, “In addition to transparency and accuracy, user assets and identity confidentiality are preserved while data leakage, identity theft, and other potential threats are also eliminated.”
Gate.io will generate Proof of Reserve (PoR) reports covering the top 100 digital assets by market value in the new era. Also, these reports, which will be shared regularly, can also be independently verified by the users. The Proof of Reserve reports will remain published on the website.
You might be interested: Binance Invested in This Project! Price Soared!
According to Gate.io’s latest report, 123% of major cryptocurrencies like Bitcoin, 116% of Ethereum, and 115% of all user balances in total were proven in reserves. Also, the exchange has approximately 3.2 billion dollars of digital assets in its reserves. Strengthening Gate.io’s PoR reports with zero-knowledge technology is seen as an important development in terms of increasing trust toward cryptocurrency exchanges. This development can encourage cryptocurrency investments by letting users know that their assets are safe.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.