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Episode 257: Proof of Solvency with Kostas Chalkias
Zero Knowledge
Is There a Proof of Assets?
Bitcoin's value has dropped to $1,000 per coin on the Bitfinex exchange. Bitcoin is a decentralised currency that can only be exchanged for cash or other assets. The system uses an algorithm called 'proof of assets' which shows how much money you have in your account at any one time. But this method doesn't work if there are non-liquid assets such as investments with long lock up periods and no ability to withdraw funds.
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