Binance Makes Latest Reserve Proof Available for 1:1 Checks

Binance says its latest zero-knowledge proof is ready, letting users check whether balances held on the exchange have at least 1:1 reserve backing. The exchange announced the status Nov. 6.

The check applies to a user's balance shown on Binance and compares it with the reserves included in the latest proof-of-reserves snapshot. At least 1:1 backing means the reserve amount associated with a covered balance is equal to or greater than that balance. The proof gives users a way to test the stated coverage for their account.

That makes the release a verification update: customers can check the backing claim against their own platform balance. The one-for-one standard describes how much reserve support is shown relative to a user's covered balance. Binance's notice characterizes the latest ZKProof as ready, so users can now perform this check themselves. The update concerns balances on Binance and the latest reserve snapshot. Customers can validate the ratio for their own balance.