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: Green Solutions
Crypto Sustainability and Green Solutions at COP26
It is no secret that cryptocurrencies come with a significantly high carbon footprint. Today, cryptocurrencies are more mainstream than ever and even regulate different markets. So, crypto issuers are surely researching how to cut back the energy costs. In 2021, cryptocurrency mining will turn to renewable energy use. In fact, using this type of energy would accelerate crypto adoption in many countries. During the 2021 COP26 summit, many crypto experts analyzed sustainable crypto initiatives that made the crypto news. Long-term…
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