Wednesday, June 19, 2024

The First Exchange in the Crypto Industry to Perform a Proof-of-Reserves Audit.

In order to provide data on user verifiable reserves, Gate.io will initiate another proof of reserves audit. This data shall be made available by implementing a Merkle Tree. A famous third party firm will be auditing it.

100 Per Cent Collateral

Gate.io was the first digital asset around the world to provide 100 per cent collateral in the year 2020. The cryptocurrency has also collaborated with a leading audit firm in the US, Armanino LLP. Together, Armanino and Gate.io managed to provide credible and professional services for asset verification. In addition to this, the entire ordeal was handled with transparency, open source and a Merkle tree that can be easily verified.

Gate.io patented the asset verification model in the year 2020 itself. The cryptocurrency has also set the standard for security verification in the digital asset industry.

The Importance of POR (Proof of Reserves)

The crypto market is wrought with uncertainty and dips. Gate.io is trying to protect the assets of its investors and users along with increasing confidence. The digital asset is renowned for transparency and secure operations. Gate.io has no intention to change this philosophy.

In the nine years since Gate.io entered the market, the cryptocurrency has a track record of zero asset compromises. Such feats put Gate.io among the top 10 digital currencies in the trade right now. Gate.io is also committed to promoting the Blockchain industry. To do this right, Gate.io strives to provide the most transparent and safe platform for traders and investors.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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