Gate.io announces that it will do its Merkle Tree Proof of Reserve solution Open Source

The cryptocurrency exchange Merkle Tree Proof of Reserve made spring open. Announced by and CEO von, Dr. Lin Han, today hopes that other platforms can use their open source solution to increase the transparency and health of the industry, and welcomes other stock exchanges to receive advice and advisory support.

In cooperation with the leading US company Armanino LLP, Gate.io was the first company to perform proof-of-reserves audits in this way in 2020. The two recently completed another audit. As explained in a report by Armanino LLP, Gate.io holds a surplus of BTC and ETH reserves of 108 % or 104 %.

Announcement of the new exam this year made its commitment to strengthening trust in the market and hopes that other stock exchanges will follow this example. Gate.io's audit solution combines certified reviews of third parties with cryptographic Merkle Trees, one of the core components of blockchain technology. It enables users to check openly and independently as to whether their assets are included in the exam and increases the transparency of users' accounting stands on stock exchanges. After the announcement, it is now open source and publicly available so that every exchange can implement it.

100 % POR solution: https://www.gate.io/Proof_of_Of_Reserves

Open source on github: https://github.com/gateio/Proof-of-of-FRESENDES

Second POR-Audit report by Armanino LLP: https://proof-of-ofrustexplorer.io/cliente.io