Binance, the world's largest password exchange, has integrated ZK-snarks into its standby authentication (POR) authentication system, the password exchange announced on Friday.

In addition, Binance added Shiba Inu (Shib), Polkadot (DOT), Chiliz (Chz) and Solana (SoL) data encryption assets to the system, increasing the number of verifiable assets in Binance to 13 popular dynamic passwords.

Binance integrates ZK-Snarks into its inventory verification system

Binance CEO Zhao Changpeng said in a tweet on Feb. 10 that Vitalik Butlin, founder of Yi Tai Fang, had earlier proposed that password swapping should use ZK-Snarks technology, a zero-knowledge test that can keep private information secret and secure. Vitalik Buterin shows that the application of ZK-snarks will improve the credibility of password exchange.

A lot of privacy and security, which is an important step forward in POR innovation. Everyone in the industry can take advantage of our own open source system, POR, so we can provide all our customers with the assurance they need to experience SAFU.

According to the official announcementBinance has introduced ZK-snarks to itsImprest confirmation (POR) Review rules and regulations. This is consistent with Binance's persistent efforts to improve the clarity of users' assets.

In addition, the code of the POR system is open source to enhance clarity and help the industry choose this approach.

In addition, Binance also imports Shiba Inu (Shib), Polkadot (DOT), Chiliz (Chz) and Solana (Soll) into the POR system. It allows the number of verifiable assets in Binance to exceed 13 data encrypted OTP. The password Exchange also plans to add a large number of dynamic passwords to the POR system and is committed to making authentication more reliable, secure and private.

In November last year, Binance released a storage verification system that uses Merkle tree cryptography technology, allowing users to verify their ownership.

Binance moves towards full transparency

After the collapse of the password exchange FTX in November, CZ, chief executive of Binance, aimed to improve the clarity of the password industry. Binance FUD has also taken over this area, leading to the large-scale sale of password assets.

Not long ago, Binance revealed that its complete financial audit report on assets and liabilities would take a lot of time. The CEO of Binance felt that the financial audit company was reluctant to cooperate with the password exchange, but Coinbase conducted the financial audit on time by Deloitte, a leading financial audit firm.

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