CoinEx has Launched Proof of Reserve

As a safe, stable and efficient digital asset trading platform, ensuring the security of user assets has always been the bottom line of CoinEx.

Since its launch in 2017, CoinEx has promised and practiced 100% reserve funds, will not use users’ digital assets for other purposes for any reason, and achieve 100% cash withdrawal of users.

In order to make it easier for users to understand the asset transparency of the platform, CoinEx has launched Proof of Reserve on December 15th, which currently supports BTC, ETH, CET, USDT, USDC, and SHIB, and will gradually support more in the future.

Go to CoinEx’s Official Website

What is Proof of Reserve?

Proof of reserves is an asset audit method used to verify whether the platform has enough assets on the chain to match its users’ book assets.

CoinEx uses the “Merkel tree” to prove that the platform maintains a 100% reserve ratio.

This method requires three key steps to verify:

  1. Use the “Merkel tree” data structure to encrypt user assets, and at the same time publicize the total assets of all users;
  2. Announce the on-chain wallet addresses and total wallet assets held by the platform;
  3. Verify the asset reserve ratio of CoinEx by comparing the total assets of all users and the total assets of CoinEx on-chain addresses;

If the total assets on the CoinEx chain are greater than or equal to the total assets of the user, it proves that the platform has kept the user’s funds intact, that is, CoinEx has provided 100% reserves of the corresponding assets.

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