{"id":535192,"date":"2023-01-04T23:30:00","date_gmt":"2023-01-04T20:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/cake-defi-publishes-merkle-tree-based-proof-of-reserves\/"},"modified":"2023-01-04T23:30:00","modified_gmt":"2023-01-04T20:30:00","slug":"cake-defi-publishes-merkle-tree-based-proof-of-reserves","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/cake-defi-publishes-merkle-tree-based-proof-of-reserves\/","title":{"rendered":"# Cake DeFi publishes Merkle tree-based Proof of Reserves"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35fc974c81a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35fc974c81a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/cake-defi-publishes-merkle-tree-based-proof-of-reserves\/#%E2%80%9D_Cake_DeFi_publishes_Merkle_tree-based_Proof_of_Reserves_%E2%80%9C\" >&#8221; Cake DeFi publishes Merkle tree-based Proof of Reserves   &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Cake_DeFi_publishes_Merkle_tree-based_Proof_of_Reserves_%E2%80%9C\"><\/span>&#8221; Cake DeFi publishes Merkle tree-based Proof of Reserves   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvYzNmMzYyYzctYmJiMS00ZDc3LThjYTYtZDg1NjMyY2I4MjJjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-6ed77c39>Singapore-based decentralized finance (DeFi) services firm, Cake DeFi, has announced the release of its Proof of Reserves using the cryptographically-audited Merkle tree method.\u00a0<\/p>\n<p>Developed by Ralph Merkle in 1979, the Merkle tree method is a way of proving that a certain piece of data is included in a set of data, without revealing the entire set of data. Under the proof of reserves method, a Merkle tree is used to prove that a cryptocurrency exchange has the reserves it claims to have, without revealing the exact amounts of each cryptocurrency that it holds, in order to protect the privacy of the platform and its users.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Security and transparency aren&#8217;t just duties, they&#8217;re a necessity, and we live them every day. As part of our ongoing effort to build the most trusted and transparent one-stop <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/DeFi?src=hash&amp;ref_src=twsrc%5Etfw\">#DeFi<\/a> and Web3 platform, we are publishing our <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ProofofReserves?src=hash&amp;ref_src=twsrc%5Etfw\">#ProofofReserves<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/btWi3bbqxJ\" data-amp=\"https:\/\/blog-cakedefi-com.cdn.ampproject.org\/c\/s\/blog.cakedefi.com\/proof-of-reserves\/amp\/\">https:\/\/t.co\/btWi3bbqxJ<\/a><\/p>\n<p>\u2014 Cake DeFi (@cakedefi) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cakedefi\/status\/1591054024039862273?ref_src=twsrc%5Etfw\">November 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>According to the DeFi services firm, users can now verify their assets, as well as the company&#8217;s liabilities, in a newly rolled-out feature that grants public access to its Merkle tree Proof of Reserves, available on its website. The tool intends to enable users to perform a self-audit of their own funds under the Merkle tree data structure.\u00a0<\/p>\n<p>In the spirit of transparency, Cake DeFi said it will also enable users to see how yields are generated, with real-time on-chain data about customer funds.<\/p>\n<p><strong><em>Related: Cake DeFi launches $100M venture arm for Web3, gaming, and fintech initiatives<\/em><\/strong><\/p>\n<p>Although many exchanges such as Binance, Crypto.com, Bybit, and OKX, have all rolled out Merkle Tree-based proof of reserves to promote transparency following the collapse of FTX, some officials\u00a0remain skeptical about the efficacy of the Merkle tree-based proof of reserves.\u00a0<\/p>\n<p>In a Dec. 22 interview with The Wall Street Journal, the SEC\u2019s acting chief accountant, Paul Munter, shared that the results of these audits aren\u2019t necessarily an indicator that the company is in a good financial position. According to him, proof-of-reserves reports by exchanges \u201clack\u201d sufficient information for stakeholders to determine whether the company has enough assets to meet its liabilities.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"nifty_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/cake-defi-publishes-merkle-tree-based-proof-of-reserves\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Cake DeFi publishes Merkle tree-based Proof of Reserves &#8220; Singapore-based decentralized finance (DeFi) services firm, Cake DeFi, has announced the release of its Proof of Reserves using the cryptographically-audited Merkle tree method.\u00a0 Developed by Ralph Merkle in 1979, the Merkle tree method is a way of proving that a certain piece of data is&#8230;<\/p>\n","protected":false},"author":1,"featured_media":535193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/c3f362c7-bbb1-4d77-8ca6-d85632cb822c.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74863,74860,74877,93542,117,4965],"class_list":["post-535192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-decentralized-exchange","tag-web3","tag-business","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/535192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=535192"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/535192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/535193"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=535192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=535192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=535192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}