OKX exchange announced the completion of the zk-STARK upgrade for the reserve certificate.
OKX exchange Completes zk-STARK Upgrade
This upgrade allowed 18 more cryptocurrencies to be verified in addition to BTC, ETH, and USDT, bringing the total number to 21.
The exchange claims that this upgrade improves transparency and security by allowing reserve certificate data to be stored on a public blockchain.
However, compared to the asset disclosures made in March, the amount of Bitcoin held by OKX users decreased by approximately 7051, while USDT assets increased by 1.1 billion.
The amount of USDC held by OKEx users is low at 270 million.
This shows that despite the growing popularity of USDC in the wider cryptocurrency market, USDT is still the stablecoin of choice for OKX users.
The zk-STARK upgrade is a form of cryptography that provides efficient and secure verification of data without revealing underlying information.
This makes it an ideal solution for protecting sensitive financial data such as reserve certificate data held by OKX.
This upgrade could mean OKX users can now have more confidence in the exchange's transparency and security.
It is worth noting that OKX has been involved in various controversies in the past, including the temporary suspension of withdrawals in October 2020 due to an investigation by the Chinese authorities.
However, the exchange has continued its normal operations since then.
It continues to make improvements to its platform. The addition of more cryptocurrencies for verification through the ZK-STARK upgrade is seen as just one of many steps OKX has taken to improve its services and maintain its position as a leading cryptocurrency exchange.
*Not investment advice.