The transparency of Ouyi's second reserve certificate is upgraded again, and users can browse all the regular audit results at will

OKX, one of the world's largest digital currency exchanges, released its second Proof of Reserve (PoR) on December 23, 2022 (HKT). In order to ensure the transparency of its reserve certificates, OKX also announced that it will regularly publish the latest PoR every month, and users can use open source tools to view and self-verify the PoR audit results at any time.

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2022/11/22 OKX released PoR data for the first time, the data source is OKX official website

OKX has always maintained a 1:1 reserve, and its Merkle tree PoR plan covers three key assets (BTC, ETH, USDT). The OKX Nansen dashboard covers other assets and shows that BTC, ETH and USDT account for more than 90% of the holdings.

In order to ensure the transparency of its PoR program, OKX currently publishes a total of more than 23,000 addresses and will continue to use these addresses to allow the public to audit asset flows. The OKX PoR protocol is open source and available to the public on GitHub-okx/proof-of-reserve.

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What is Proof of Reserve (PoR)?

Proof-of-Reserve is an auditing method for nominee crypto-asset holders to ensure that nominee holders (OKX) hold the assets they claim to hold on behalf of their users. OKX currently uses a Merkle tree (hash tree) method for verification. First, users can find their balance address in the tree and prove that their assets are held in the OKX total balance. Second, the total OKX balance is compared to the published OKX on-chain wallet balance to determine the Proof of Reserve.