TechFlow news — Cobo co-founder and CTO Changhao Jiang published an article stating that the Merkle Tree reserve proof method has certain fundamental flaws. Specifically, centralized entities can easily bypass the intended misuse checks of this reserve proof method by taking loans to pass audits or colluding with external parties to pass audits. He suggested two improvements: "random spot-check audits" and "accelerating reserve proofs using MPC-TSS," which together could prevent falsification of reserve proofs during audits without compromising user privacy.
Previously, Cobo announced it had begun internal testing of its MPC joint custody solution, which will be launched soon.
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