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In light of recent events in the crypto industry, avid users of crypto exchanges have been questioning the safety of their assets.
Most cryptocurrency investors had always entrusted CEXs with their assets without pushing overly hard for transparency or performing verification to ensure that reserves were being maintained. After the FTX collapse, however, this implicit trust was shattered. In response, the call for proof of reserves has resurfaced.
In this video, let’s take a look at what is Proof-of-Rserves, how it works, and how it would benefit the central exchange users.
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6 Comments
The second you realize crypto was built to be decentralized is the second you realize keeping your crypto in custodial exchanges is the worst idea possible.
The answer is NO and it is why I make gains with HEX staking, which also gives free Hedron and Icosa
No way. . .
Which country are you from?
No and thats not new, I did never trusted exchanges and will never. Not your Keys, not your coins!!
You can if you treat an exchange like a public restroom. You get in, do your business and get out.