#Blockchain #Dubai #UAE #OKX #Proof of Reserves

OKX's Latest Proof of Reserves Report

In a significant announcement, OKX, a leading cryptocurrency exchange, has released its 28th consecutive Proof of Reserves (PoR) report. This report highlights the platform's impressive primary assets totaling $28.1 billion, reflecting a robust growth of 59% compared to the previous year. This latest report has undergone rigorous auditing and verification by the blockchain security firm Hacken, emphasizing OKX's commitment to transparency and security.

Key Highlights from the PoR Report

The PoR report indicates that OKX maintains a reserve ratio of 11 or greater across 22 of the most widely traded assets on its platform. The current reserve ratios for the primary assets are as follows:

• - BTC: 104%
• - ETH: 102%
• - USDT: 102%
• - USDC: 100%

Breaking down the total assets, OKX's holdings are particularly impressive:

• - BTC holdings: $13.2 billion
• - ETH holdings: $4.9 billion
• - USDT holdings: $8.7 billion
• - USDC holdings: $1.3 billion

Security Infrastructure

OKX’s commitment to safeguarding user assets is reinforced by its sophisticated security framework. The platform boasts a multi-billion-dollar Insurance Fund, which is available in specific markets, and employs AI-powered security measures alongside OKX Protect, an educational hub that equips users with essential security features.

The PoR initiative continues to be verified independently by Hacken, ensuring its reliability through a meticulous verification process that includes zk-STARK proofs and signature validation to confirm ownership of reserves. The auditors meticulously analyze public wallet addresses alongside cryptographic proofs to uphold the integrity of the report.

Advancements in Proof of Reserves Technology

Over the past two years, OKX has made significant strides in enhancing its PoR program. The adoption of zk-STARK technology has been particularly transformative, reducing the proof file size from an unwieldy 2.55GB down to a streamlined 598KB. This optimization also extends to verifiable assets, which have been expanded to 22 major cryptocurrencies, ensuring that the platform not only enhances security but also improves usability for its customers.

The fusion of state-of-the-art encryption protocols and cutting-edge wallet infrastructure underscores OKX's commitment to providing a seamless user experience alongside robust security measures.

For those interested in delving deeper into OKX’s full PoR report, it is available at okx.com/proof-of-reserves.

About OKX

Founded with the goal of democratizing access to blockchain-based assets, OKX has evolved from a cryptocurrency exchange to one of the world’s largest platforms. It now offers millions of users a comprehensive ecosystem for trading and accessing decentralized applications (dApps). The platform is trusted by numerous large institutions needing a reliable conduit to the crypto markets, seamlessly integrating with global banking and payment services.

Among OKX's flagship offerings are the OKX Exchange, OKX Wallet, and OKX Explorer. To explore further, users can download the OKX app or visit the official site at okx.com.

Disclaimer: The information presented is for informational purposes only and is not intended as financial or investment advice.

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