The leading cryptocurrency exchange and blockchain ecosystem have upgraded its proof–of–reserves (PoR) verification system with zk-SNARK, a zero-knowledge verification method aimed at keeping users’ sensitive information more private and secure.

Per the announcement, Binance is committed to investing in technology that will enhance its reserves verification function, making it extra reliable, secure, and private for users. To be more transparent, the top-ranked crypto marketplace by 24-hour trading volume added that it would make the code for its proof-of-reserve (PoR) system open-source. 

Notably, the second-largest decentralized meme token, Shiba Inu (SHIB) is among the four new tokens recently added to Binance’s proof-of-reserves verification system. This implies that SHIB holders can now verify their holdings on the custody platform.

In consequence, the exchange’s proof of reserves page now shows SHIB’s customers’ net balance and Binance net balance as well as the asset’s reserve ratio.