Vitalik: Improve CEX asset proof using ZK-SNARK technology, and a crypto "restricted" CEX may emerge in the future

2022-11-19 19:52:48

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ChainCatcher news, Vitalik published a new article titled "Owning a Secure CEX: Proving Solvency and More," exploring the historical attempts of trading platforms to provide decentralized asset proofs, the technical limitations, and how to use ZK-SNARKs and other advanced technologies to greatly simplify and improve the privacy issues and robustness in the current Merkle tree asset proof protocols. Additionally, Vitalik discusses how to completely prevent trading platforms from stealing users' funds using technologies like Plasma and validiums.

At the end of the article, Vitalik stated: "In the future, we may see 'restricted' CEXs where user funds are held in smart contracts similar to validium. We may also see semi-custodial trading platforms where we entrust fiat currency rather than cryptocurrency to them."

Previously, ChainCatcher reported on November 14 that Zhao Changpeng stated he would collaborate with Vitalik to launch a new method for proving platform reserves, with Binance serving as a pilot. (source link)

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Vitalik ZK-SNARK CEX

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