Binance deploys zk-SNARKs on proof-of-reserves system
Binance, the biggest centralized cryptocurrency exchange by volume, has added zk-SNARKs’ zero-knowledge proof system to its proof-of-reserves (PoR) verification system to attest that funds held on the platform are backed 1:1.
The exchange made this addition in response to growing concerns from investors about the safety of their funds on cryptocurrency exchanges.