Binance Expands Proof of Reserves to 50 Cryptocurrencies with CAKE Addition
Binance Expands Proof of Reserves to 50 Cryptocurrencies with CAKE Addition
🔐 Binance's 50th Reserve
Binance has expanded its Proof of Reserves (PoR) system to include CAKE, bringing the total number of verified cryptocurrencies to 50.
What This Means:
- The PoR mechanism allows anyone to independently verify that user assets are backed 1:1
- Users can audit Binance's reserves through a transparent, publicly accessible system
- The addition of CAKE demonstrates ongoing expansion of verifiable asset coverage
Our #Binance Proof of Reserves (PoR) mechanism allows anyone to check that our user assets are backed 1:1. 🔐 This month, $CAKE was added to the reserves, bringing the total to 50 cryptocurrencies. Check out this month's PoR here 👉 binance.com/en/proof-of-re…
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