{"id":37753,"date":"2023-01-04T20:36:33","date_gmt":"2023-01-04T20:36:33","guid":{"rendered":"https:\/\/lydian.io\/?p=37753"},"modified":"2023-01-04T20:36:34","modified_gmt":"2023-01-04T20:36:34","slug":"cake-defi-releases-proof-of-reserves-based-on-merkle-trees","status":"publish","type":"post","link":"https:\/\/lydian.io\/cake-defi-releases-proof-of-reserves-based-on-merkle-trees\/","title":{"rendered":"Cake DeFi releases Proof of Reserves based on Merkle trees","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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Singapore-based decentralized finance (DeFi) providers firm Cake DeFi has introduced the discharge of its Proof of Reserves utilizing the cryptographically verified Merkle Tree methodology. <\/p>\n
Developed by Ralph Merkle in 1979, the Merkle tree methodology is a approach to show {that a} particular piece of knowledge is contained in a dataset with out revealing your entire dataset. The proof of reserves methodology makes use of a Merkle tree to show {that a} cryptocurrency change has the reserves it claims to have with out disclosing the precise quantities of every cryptocurrency it owns to be able to shield the privateness of the platform and its customers .<\/p>\n
Safety and transparency will not be simply duties, however a necessity that we stay by day by day. As a part of our ongoing effort to construct essentially the most trusted and clear level of contact #DeFi<\/a> and Web3 platform we publish our #ProofofReserves<\/a> https:\/\/t.co\/btWi3bbqxJ<\/a><\/p>\n