Nic Carter dives into proof-of-reserves, ranks exchange attestations
Crypto trading platforms Kraken and BitMEX topped the proof-of-reserves score list, while Binance received a low score for being incomplete. Bitcoin advocate Nic Carter has released an in-depth analysis of centralized exchange proof-of-reserves and ranked the attestations provided by some of the most prominent crypto trading platforms in the space. Carter published a detailed examination of the quality of several exchanges’ proof-of-reserves (PoR). The crypto executive used parameters such as attestation to assets held and a disclosure of liabilities, incorporating a third-party auditor, demonstrating credibility by taking a PoR for all assets and committing to an ongoing procedure to determine which PoRs are of the best quality. PoR scores of crypto exchanges. Source: Medium Crypto trading platforms Kraken and BitMEX topped the list. According to Carter, Kraken, which employed Armanino for its proof -of -reserves , gives clients a "good level of confidence" that there ar...