1 year ago
1 min read
Vitalik Buterin: to build trust, centralized exchanges could use cryptographic proofs like ZK-Snark
Vitalik Buterin, Ethereum co-founder and a well-known blockchain programmer, published a blog post about how centralized exchanges can become trustless. Buterin believes that the best proof of the reserves is a zero-knowledge succinct non-interactive argument or knowledge (ZK-SNARK). On November 19, 2022, Vitalik Buterin published a blog about how centralized exchanges or CEXs can use cryptographic proofs to assure the public that the funds held on-chain cover what they owe. Buterin wrote that, in addition to the traditional finance or TradFi measures of auditors, corporate governance, licensing, and due diligence, CEXs could implement a system that prevents them from withdrawing