Chainlink Labs offers proof-of-reserve service for embattled exchanges
2022/11/11 12:34
Chainlink Labs offered its proof-of-reserve product as a solution to future trust issues in the crypto exchange market on Nov. 10. In a tweet thread, Chainlink Labs asked, “Will crypto continue to repeat the mistakes of the traditional black-box financial industry? Or will a better system emerge?”In answer to this question, it offered its proof-of-reserve (PoR) product, which it said is useful “for verifying centralized exchange asset reserves, off-chain bank account balances, cross-chain collateral, real-world asset reserves, and much more.”
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