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CZ Binance Confirms Upcoming Collaboration with Vitalik Buterin to Develop Proof-of-Reserves Protocol

Changpeng Zhao (CZ), the founder and CEO of Binance, revealed on Monday that Ethereum co-founder Vitalik Buterin is on the cusp of developing a proof-of-reserves protocol, in which Binance would serve as its first test case.

CZ said this in an AMA (Ask Me Anything) held on Twitter on Monday. He stated that he recently spoke with Buterin who is currently planning on developing “some type of new proof-of-reserve protocol.”

Zhao also assured customers that Binance did not have loans or debt, stating that the exchange rely solely on third-party market makers for liquidity.

(By Solomon Odunayo)

Binance Vitalik Buterin Ethereum
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