There is a theory that crypto.com may have just recently done that, but that's a little conspiracy theory, possibly. I will talk as a cryptographer here, right? What can we do? Is it anything that we can do? Surprisingly, there is a paper from Benedict Boons, Dan Pune, Jeremy Clark and like all of these popular like famous cryptographers where in their provisions paper, it's called provisions. It was the first scheme that I've seen, I think is 2015, that they had an algorithm that said, okay, if proof of assets is happening. At the same time for all of the exchanges, then there is a zero knowledge proof that we can
This week, Anna explores the topic of proof of solvency with Kostas Chalkias, co-founder and chief of Cryptography at MystenLabs. They cover Kostas’ background in Cryptography and explore his work on Proof of Reserves, otherwise known as Proof of Solvency. They review past Proof of Solvency models using ZKPs and look at the protocols that major centralized exchanges are currently using. Then they dive into the security vulnerabilities, privacy issues, and general bugs that Kostas and his collaborators have identified in these protocols and their recommendations on how to better build Proof of Solvency systems.
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Today’s episode is sponsored by Aleo
Aleo is a new Layer-1 blockchain that achieves the programmability of Ethereum, the privacy of Zcash, and the scalability of a rollup.
If you’re interested in building private applications then check out Aleo’s programming language called Leo. Visit leo-lang.org to start building.
You can also join Aleo’s incentivized testnet3 by downloading and running a snarkOS node. No sign-up is necessary to participate. For questions, join their Discord at aleo.org/discord.
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