TechFlow News — Bitget, a leading global cryptocurrency derivatives exchange and copy trading platform, has announced a strategic partnership with decentralized database leader Space and Time (SxT). This collaboration will enable Bitget to provide users with transparent insights into its exchange operations, offering verifiable data and tamper-proof audit trails for computations.
Bitget users will now be able to view key information about the exchange’s activities, liquidity, assets, and liabilities. Space and Time ensures that all data and computations remain accurate and unaltered. As of March 6, 2023, Bitget's total reserve ratio stood at 231%, indicating that Bitget holds more than 100% of users’ total assets (BTC, ETH, USDT, USDC).
Commenting on the partnership, Gracy Chen, Managing Director at Bitget, said: “At Bitget, we are committed to becoming a fully transparent global trading platform. Our collaboration with Space and Time underscores this commitment. Users today demand greater transparency from exchanges. With Space and Time, Bitget is pioneering public proof-of-accounting and operational transparency.”
Nate Holiday, CEO and Founder of Space and Time, added: “We’re excited to partner with Bitget to deliver market-leading proof of accounting and operational verification. This collaboration marks the dawn of a new era of transparency for centralized enterprises.”
Notably, Space and Time is the first Web3-native decentralized database that connects tamper-proof on-chain and off-chain data, enabling enterprise-grade use cases for smart contracts. The platform has developed a novel cryptographic technology called SQL Proofs, which allows developers to directly connect analytics to smart contracts—unlocking powerful new applications and business logic on blockchain technology. Built from the ground up as a multi-chain data platform, Space and Time serves Web3 developers in financial services, gaming, DeFi, and any project requiring next-generation analytics.
