TechFlow News — According to official updates, Gate.io announced it has officially launched the second round of its 100% reserve audit in July 2022. Upon completion of the audit, users will be able to verify the security of their assets through open-source, public, transparent methods involving blockchain signatures and Merkle trees. In 2020, Gate.io closely collaborated with U.S.-based auditing firm Armanino LLP to successfully deliver professional and trustworthy asset verification services using open-source, transparent, blockchain-signed, and Merkle tree-based approaches.
Gate.io stated that the 100% Proof of Reserves ensures the exchange can always meet full withdrawal demands from all users at any time, eliminating the risk of a bank run caused by concentrated withdrawals. Any platform user can obtain verification data from the platform and use publicly available Merkle trees and verification tools to confirm whether their assets have been accurately disclosed and included in the audit process.
