OKX, a leading Web3 technology company and the world’s second-largest crypto exchange based on trading volume, has recently announced an ambitious technological upgrade to its Proof of Reserves (PoR) system. This upgrade includes the implementation of zk-STARK zero-knowledge technology, which enables users to independently oversee exchange solvency and ensures that their assets are backed by OKX’s reserves.
By adopting this technology, OKX’s PoR report revealed a 39% increase in Bitcoin, Ethereum, and USDT holdings amounting to USD10.4 billion since January 2023. Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) is a cutting-edge cryptographic method that guarantees the accuracy of OKX’s PoR while still protecting user privacy – no account balances are revealed to third parties.