Binance released its highly anticipated proof of reserves (PoR) on Friday, providing blockchain-based evidence for the Bitcoin on its books. However, many in the crypto community question Binance’s approach, and aren’t fully convinced that they have the transparency they’re looking for. The Move to Proof of Reserves As Binance explained in its announcement, the exchange’s transparency system will add multiple tokens and networks within the next two weeks. For now, it solely validates its Bitcoin holdings. The company’s initial audit…
Tag: Gavin Wood
Crypto Founders Who Have Worked on Multiple Projects
After 2009 when the first decentralized cryptocurrency, Bitcoin, was created by Satoshi Nakamoto, many other founders emerged and came up with new projects. These projects either sought to be better than Bitcoin or cover the niches in Bitcoin. Although cryptocurrencies are based on blockchain technology, many individuals are becoming more innovative in the industry. These founders come from various backgrounds including, development, economics, or the corporate world. Their backgrounds and experiences inspire them to develop unique ideas to solve real-world…
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