What Is Proof of Reserves (PoR)?
In simple terms, proof of reserves (PoR) refers to a background check (or an independent audit) conducted on crypto exchanges by a third-party auditor. This advanced cryptographic accounting procedure uses a structure called a Merkle Tree, which breaks down complex data into smaller, more digestible chunks for faster and more efficient processing.
The end goal is to ensure that the exchange is financially stable, and carries an amount either equal to or greater than the sum of the clients’ balances. Example BINANCE!
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