Binance said the full zero-knowledge proof for its Oct. 31 Proof of Reserves snapshot has been completed, allowing users holding BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC to verify that their account balances are backed by at least a 1:1 reserve ratio through the exchange’s verification tool. The company also said it plans to take another snapshot on Nov. 4 to cover more tokens, with the full zero-knowledge proof expected to take about 40 to 50 hours to generate. Binance added that it had previously replenished about 95% of the affected assets, while the remaining roughly 5% is still being sourced because of lower token liquidity. The exchange also said it plans to gradually resume withdrawals for more networks and assets tomorrow, with further details to be released once ready.
According to a Binance announcement cited by ChainCatcher, the exchange has completed the full zero-knowledge proof for its Oct. 31 Proof of Reserves, or PoR, snapshot.
Users holding BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC can now use Binance’s verification tool to check whether their account balances are backed by reserves at a ratio of at least 1:1.
Binance said it plans to take another snapshot on Nov. 4 to include more tokens. After that, it will generate a full zero-knowledge proof, a process the company expects to take about 40 to 50 hours.
The company had previously said it had replenished about 95% of the affected assets. The remaining roughly 5% is still being procured because liquidity for those tokens is relatively low.
Binance also said it plans to gradually restore withdrawals for more networks and assets tomorrow. Specific details will be released once preparations are complete.
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