Crypto proof of reserves

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PARAGRAPHProof of Reserves Verify that cryptographic tool that enables the been included in the process. What this means in actual Binance user assets are prooff all user assets as well.

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What is proof of reserves? Proof of reserves (PoR) is the process of verifying that the customer assets held by a cryptocurrency exchange or financial. This means that we are showing evidence and proof that Binance has funds that cover all of our users assets , as well as some reserves. When a user deposits. Proof of Reserves allow all Kraken clients to verify the crypto balances they hold on our exchange are backed by real assets held safely in our custody.

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A proof-of-reserves PoR audit of a crypto company generates a certification called an attestation. Higher frequency assessments � paired with either audit firm oversight or simply the on-chain transparency that comes with a periodic asset attestation � means that it is much harder or impossible to cheat a PoR. Key Takeaways Proof of reserves PoR reports the results of a third-party audit of a crypto company. Our commitment to our community remains the same as it has always been.