Euroease OKX to Upgrade Reserve Certificate Using Merkle Tree and Zero Knowledge Proof

03/02/2023 11:36 • Tech Ticker • 146 views

On March 2, according to the official news of Euroease OKX, the platform announced that it would upgrade its reserve certificate in the next few months, and would prove its solvency based on the technology of Merkel tree and zero knowledge proof. In the future, anyone will be allowed to view all assets in Merkel’s tree, but user privacy will also be guaranteed by splitting and shuffling.

Ouyi OKX announced that it would upgrade the reserve certificate based on the Merkel tree and zero knowledge certificate

Interpret the above information:

Euroease OKX, a trading platform, has recently announced its plans of upgrading its reserve certificate in the next few months. The platform has stated that it will be proving its solvency based on the technology of Merkel tree and zero knowledge proof.

This move by Euroease OKX aims to provide credibility and transparency to its users by allowing them to view all assets in Merkel’s tree. Merkel tree is a data structure that stores hashes of data such that it makes it impossible for anyone to tamper with the data. This technology ensures the integrity of the data, and therefore can be used to prove the solvency of a company.

Furthermore, by using zero knowledge proof technology, Euroease OKX will be able to maintain users’ privacy. Zero knowledge proof is a cryptographic technique that enables one party to prove to another that they know a value without revealing the value itself. This means that Euroease OKX can prove its solvency without revealing any information about its users’ trades and investments, ensuring that user privacy is not compromised.

It is important to note that Euroease OKX will also be implementing splitting and shuffling to guarantee user privacy. Splitting refers to dividing the data into smaller chunks, while shuffling is the process of rearranging the data in a random order. These techniques ensure that user information is not easily identifiable, and their privacy remains intact.

In conclusion, Euroease OKX’s decision to upgrade its reserve certificate using Merkel tree and zero knowledge proof technologies is a significant step towards enhancing credibility and transparency in the crypto trading industry. The use of these technologies not only guarantees solvency but also strengthens user privacy, which is a top priority in today’s digital world.

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