OKX Adds ZK-starks to Proof of Reserves Verification

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Last Updated on April 28, 2023 by Bitfinsider

OKX has incorporated ZK-Starks, a type of zero-knowledge proof mechanism, into its proof-of-reserves (PoR) verification, allowing users to independently verify its assets while protecting sensitive user data.

ZK-Stark (Zero-Knowledge Scalable Transparent Arguments of Knowledge) is a cryptographic mechanism that purports to enable users to independently confirm the accuracy and authenticity of the exchange’s reserves without revealing account balances to third parties.

OKX’s Proof of Reserves (PoR) system utilizes ZK-Stark technology to provide a more privacy-centric substantiation of the exchange’s reserves for 21 crypto assets. The exchange noted that it is a “method that verifies the accuracy and authenticity of OKX’s Proof of Residency while maintaining user privacy — account balances are not visible to third parties.”

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