Summary

Gate.io’s latest Proof of Reserves (PoR) methodology has passed a comprehensive security review conducted by Hacken, confirming its contribution to the field of blockchain technology and cryptographic systems.

Introduction

Gate.io, a leading crypto exchange and Web3 innovator, announced that its PoR methodology has been validated by Hacken’s security audit, assuring its functionality and complexity alignment with key principles in blockchain technology and cryptographic systems.

Main Points

• Hacken’s security review involved analyzing the code and functionality of Gate.io’s PoR, assessing areas such as dependency management, cryptographic frameworks, code quality, error handling, and testing.
• Gate.io’s CEO expressed gratitude for Hacken’s thorough review and commitment to user asset safety.
• Hacken praised Gate.io for setting a benchmark for the industry and believes that Proof of Reserves will become a standard for custodians, exchanges, lenders, and stablecoin issuers.
• Gate.io was an early adopter of PoR, combining Merkle trees with third-party audits and independent user validation. They have expanded their implementation over time, with regular reporting on over 100 assets and enhanced security measures.

Conclusion

Hacken’s security audit confirms the security and significance of Gate.io’s Proof of Reserves methodology. Gate.io’s commitment to transparency and user asset safety sets a benchmark for the industry, with Proof of Reserves expected to become a standard in the blockchain ecosystem.