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Backpack exchange launches real-time Proof of Reserves, published daily and verified by ZK.

GateNews
ZK1,1%

Odaily News Backpack exchange announced the official launch of the real-time Proof of Reserves constructed and verified by OtterSec, and committed to daily public disclosure. The system is based on zk-SNARKs technology, covering Spot, Margin, and unrealized PNL, allowing users to verify their account balance through Merkle trees without exposing privacy. Compared to the industry-standard monthly disclosures, Backpack achieves daily public disclosure and internal verification every 10 minutes, and in the future, it will gradually achieve complete public access to code and data, providing on-chain verifiability for centralized exchanges.

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