As we are aware of the current market situation and how a major CEX player went down, there emerged a problem that needs to be solved to bring back the trust of the users. There should be an economic and robust solution for auditing the reserves of Centralised Exchanges. Not just focusing on Proof of Reserves but also on Proof of Liabilities. This will bring back the lost trust of the Centralised Exchange users. The idea is to have a trustless mechanism for validating reserves' balance and calculating user liabilities over a consensus layer.
Tracks Applied (2)
Protocol Labs
CoinDCX
Technologies used
Discussion