4 ms·
Proof of reserves is worthless without proof of outstanding liabilities. And the only way you're going to provide the latter is through something called an aud
by vkou 4y ago
Proof of reserves is worthless without proof of outstanding liabilities.
And the only way you're going to provide the latter is through something called an audit.
- olalonde 4y agoThere's also a cryptographic way: https://syskall.com/proof-of-liabilities/#what https://syskall.com/proof-of-liabilities/#what
- vkou 4y agoNo on-chain solution is ever going to prove that your exchange doesn't owe a trillion dollars to a third party. You need an audit for that. An audit. One of those things that has been done for centuries and millennia. It's not rocket science, it just consists of paying an accounting firm to look at your books.
- throwaway290 4y ago(That, and having said books:)