MetaCrunch

Chainlink Touts Proof-of-Reserve as Solution to Crypto Contagion


Chainlink is pushing a new system called proof-of-reserve to provide the transparency desperately needed in the crypto industry right now.

The crypto contagion has continued this year, with FTX compounding matters this week. This has put the spotlight on transparency, especially for centralized crypto exchanges.

Data oracle provider Chainlink has been promoting its proof-of-reserve tools, which could solve the transparency issues currently plaguing the industry.

In a tweet on Nov. 11, the Chainlink team asked if crypto will continue to repeat the mistakes of the traditional black-box financial industry.





Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.

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