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Backpack exchange launches real-time Proof of Reserves, published daily and verified by ZK.
Odaily News Backpack exchange announced the official launch of real-time Proof of Reserves built and verified by OtterSec, and committed to public disclosure on a daily basis. The system is based on zk-SNARKs technology, covering Spot, Margin, and unrealized PNL, allowing users to verify their account balance through Merkle tree without exposing privacy. Compared to the industry-standard monthly disclosures, Backpack achieves daily public disclosure and internal verification every 10 minutes, and in the future will gradually realize complete public access to code and data, enabling Centralized Exchange to have on-chain verifiability.
ZK-2.47%