Binance, the world's largest crypto exchange by trading volume, has expanded its Proof of Reserves (PoR) system to add 11 new tokens. This development comes as Binance now has over $63 billion worth of verifiable assets through its PoR system.

Recent Forbes analysis revealed that B-peg USDC, a billion-dollar token backed by Binance's customers' funds, had been quietly moved from the exchange to an undisclosed location.

MASK

MASK is an advanced token designed to improve personal wellbeing while safeguarding wealth. It boasts features like the capacity to rename and de-duplicate existing tokens, as well as a robust network for trading and storing them.

The most remarkable feature of its smart contract system is its scalability. This enables users to create and delegate control over a large number of tokens and other assets while still limiting the potential risk of theft by malicious parties.

The company provides a suite of tools for geoprocessing, augmented reality and more. But the standout product is undoubtedly the incredibly straightforward Create Overpass tool; this essential piece of equipment is essential for anyone who's ever had to deal with an overwhelming map or scene that had many confusingly named feature layers.

ENJ

Enjin is a platform that assists developers in creating and distributing digital assets for games. It also enables users to manage and trade their in-game items using an automated smart wallet.

At present, the company boasts over 250,000 gaming communities and 18.7 million registered gamers. As a leader in tokenized digital assets and non-fungible tokens (NFTs), ENJ - its native coin - is poised to soar as demand for these assets grows.

Tokens are created on the platform and secured into smart contracts that release them when sold or used in games. This reduces coin circulation while increasing the value of ENJ's ecosystem in the long run.

Token holders can utilize ENJ to buy and sell NFTs on the Enjin marketplace, or they can exchange them for other cryptocurrencies on certain decentralized exchanges. Furthermore, they have the opportunity to stake their ENJ in exchange for Efinity Tokens which will enable them to complete transactions on the upcoming Efinity network.

WRX

Proof of reserves is a transparent auditing practice that guarantees crypto companies have enough assets to cover their liabilities. It utilizes blockchain technology, providing a secure way of auditing a company without exposing private user data.

A proof of reserve audit is a process in which a third-party auditor accesses cryptographic signatures representing customer assets to create an overview of all company balances. This provides customers with peace of mind that their crypto exchange has enough liquidity to cover withdrawals regardless of market conditions.

Audits are typically performed on a quarterly or monthly basis; however, some crypto exchanges provide real-time proof of reserve balances online which are updated several times daily.

Asset snapshots provided by these firms offer some transparency, but lack safeguards and cannot replace full audits, according to seven analysts, lawyers and accountancy experts. Mazars recently halted its checking system for crypto exchanges after it was reported by Reuters that Binance had used it.

GRT

GRT is the token powering The Graph protocol, which offers a decentralized solution for collecting and querying data on blockchains. Through its network of delegators, indexers and curators scanning blocks and smart contracts for users, The Graph provides quick access to essential information.

The Graph is a secure way to search for data on blockchains without relying on third parties, which could lead to hacks and scams. It uses a Merkle tree hashing algorithm which keeps the data private and unalterable.

Crypto exchange Binance advertised its proof of reserves report as a transparent way to guarantee customers it had enough collateral on hand, but this practice was put to the test in 2022 when audited reports failed to reassure worried investors and regulators. Following the backlash, Mazars, the accounting firm hired by Binance for auditing, removed the report from its website and discontinued offering them altogether.

CHR

CHR is a handy function that can convert an ASCII number to a character. It's useful when performing arithmetic or logical operations on both characters and numeric data.

This function takes a single argument and returns a VARCHAR(12) string that contains one character with its associated ASCII code. It can be especially helpful in combination with the chr(x) function.

Python programmers will find this function invaluable; it is especially helpful when creating complex hexadecimal numbers with few arguments. Furthermore, it performs arithmetic or other numerical operations on characters and numeric data. As such, CHR deserves to be considered an MVP in any database system; available across all SQL modes and supporting both Oracle Database 11g release 2 and earlier releases.

CRV

Crypto exchanges' proof of reserves report is a third-party audit that verifies customer funds are secure. These reports serve to reassure both consumers and regulators that crypto businesses possess enough assets to pay out depositor claims.

In 2022, several major crypto exchanges offered auditor-provided tests of their reserves as a way to reassure customers and the market. Unfortunately, these point-in-time snapshots fall far short of traditional financial statement audits and do not take into account asset volatility or outstanding obligations.

Binance, the world's largest crypto exchange by trading volume, has often cited its proof of reserves reports as a way to reassure customers and regulators. Unfortunately, a recent Reuters report revealed that filings from its Dubai unit, Binance FZE, provide scant details about global profits.

In October, Binance chief executive Zhao Tao told Reuters the company would continue to safeguard its finances. It has a strict policy of not disclosing all financial details.

1INCH

1inch is a decentralized exchange built upon the Ethereum blockchain. The platform offers traders the chance to create limit orders and earn tokens through staking them.

Users may stake 1INCH tokens to take part in DAO governance and 1inch Network Treasury management. This helps fund the protocol development and increases liquidity on its dApp.

The token also acts as a gas token, enabling traders to save on transaction fees by using it instead of CHI.

1inch acts as a DEX aggregator, scraping and routing data from over 50 different DEXs to give its clients the most competitive prices on all trades. Furthermore, it splits token swaps across 21 liquidity protocols to reduce slippage and maximize efficiency.

CVP

Binance has implemented the zero-knowledge proof zk-SNARK to enhance its Proof of Reserves report. This technology enables users to anonymously confirm that changes in their asset balances are part of an overall global state of user funds.

The zk-SNARK cryptographic proof utilizes information from Binance's Merkle tree to verify nonnegative balances and change of balances for customers without revealing their private information. It is a secure data structure that guarantees the integrity of proof of reserves reports.

According to Reuters, trading-related revenue accounts for almost 90% of Binance's profits. The exchange charges transaction fees on spot and derivatives trades and has also made venture investments.

Publicly accessible trading volumes and company statements by CEO Changpen Zhao suggest the crypto firm has a healthy profit margin and substantial corporate reserves. However, reliable estimates of its trading-dependent revenues are hard to come by, according to analysts.

HFT

High-frequency trading (HFT) is an unconventional strategy that involves buying and selling financial assets within a fraction of a second. It has the potential for sudden, unpredictable market shifts which could cause substantial losses for investors.

HFT firms can move data much more quickly than the average user, enabling them to make trades in a shorter amount of time. However, some market watchers criticize this practice due to its provision of "ghost liquidity," which appears and disappears instantly.

As competition in the HFT space intensifies, participants are spending increasingly more money to stay ahead of each other. This phenomenon is known as an "arms race." In essence, traders are trying to find new ways to reduce their trading times by microseconds.

DOGE

Dogecoin (DOGE) is a decentralized cryptocurrency that began as an internet meme in 2013 but has since become one of the most highly valued digital assets due to its mass appeal and low entry barrier.

Elon Musk and Mark Cuban have publicly supported this coin, while its strong community also lends support and encourages others to invest.

DOGE relies on a proof-of-work (PoW) system to secure its blockchain and validate transactions. To do this, miners with computational power solve mathematical equations.

DOGE users use it for crowdfunding campaigns and tipping online content creators. It also has widespread acceptance by merchants - for instance, Tesla merchandise and some Supercharger stations accept DOGE payments. Despite these advantages, DOGE still faces several limitations that hinder its growth to rival other coins in popularity.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.