Upgrading of Ouyi OKX Reserve Certification System with zk STARK Encryption Technology

According to the announcement, Ouyi OKX officially upgraded the reserve certification POR system, becoming the first transaction platform in the industry to use zk STARK (zero knowledge extensible transparent knowledge demonstration) encryption certification technology in the reserve certification system, and simultaneously open source the system. This technology is developed from the theory of V God and aims to ensure the integrity and privacy of computing through blockchain. OKX has added three conditions: total balance constraint, non negative constraint, and inclusion constraint to ensure the accuracy and effectiveness of user asset data held by the certification platform, continuously leading the industry’s transparency standards.

Ouyi OKX Upgrades POR System through zk STARK Technology

Introduction

In the realm of the cryptocurrency world, ensuring the integrity and privacy of computing has been a major point of concern amongst traders and investors. In light of this, Ouyi OKX has officially upgraded its reserve certification POR (Proof of Reserve) system, becoming the first transaction platform in the industry to use zk STARK encryption certification technology in the reserve certification system.

Understanding the Theory Behind the zk STARK Encryption Certification Technology

The zero knowledge extensible transparent knowledge demonstration (zk STARK) encryption certification technology is developed from the theory of V God. The aim of this technology is to ensure complete privacy and steadfastness of computing in blockchain.
Moreover, this technology uses a method whereby multiple layers of encryption are added to protect user asset data held by the certification platform. This guarantees that transparency standards within the industry are continually upheld.

The Three Additional Conditions Added to Ensure Accuracy and Effectiveness of User Asset Data

As part of the upgrades made to the reserve certification POR system, Ouyi OKX added three new conditions to ensure the accuracy and effectiveness of user asset data held by the certification platform. The three additional conditions are briefly discussed below:

Total Balance Constraint

Ouyi OKX’s reserve certification POR system requires users to hold a minimum balance to maintain certification. This new condition ensures that the total balance of the user is greater than or equal to the reserved currency.

Non Negative Constraint

This new condition requires that the user’s asset data can only contain non-negative values. This means that the user cannot have negative balances, which ensures that the user’s asset data is accurate.

Inclusion Constraint

This condition utilizes an inclusion mechanism that confirms that the user’s asset data is included in the assets that are claimed to be reserved.

The Benefits of Upgrading to the New Reserve Certification POR System

The upgrade undertaken by Ouyi OKX to its reserve certification POR system brings with it several benefits, some of which are listed below:

Enhanced Security

With the introduction of the zk STARK encryption certification technology, the reserve certification POR system is now more secure and effective.

Reduced Risk of Fraud and Manipulation

The addition of the new constraints ensures the accuracy and effectiveness of the user’s asset data. This reduces the risk of fraud and manipulation by ensuring that users can only transact with assets that they legitimately own.

Improved Transparency Standards

Ouyi OKX’s upgrade to the certification system, making use of the zk STARK encryption technology, improves industry transparency standards, which remains an ongoing commitment for the company.

Conclusion

Ouyi OKX has set a new standard in the cryptocurrency industry by upgrading its reserve certification POR system with the zk STARK encryption certification technology. The additional constraints added and the use of multiple encryption layers strengthen the security of the system. This upgrade provides benefits to both the users and Ouyi OKX, creating an ecosystem in which fraudulent transactions can be avoided, and an atmosphere of trust can be maintained.

FAQs

Q1. What is the reserve certification POR system?

The reserve certification POR system is a verification mechanism used by cryptocurrency transactions platforms to verify that the amount of currency being transacted is supported by the required amount of reserve currency.

Q2. What is the zk STARK encryption certification technology?

The zero knowledge extensible transparent knowledge demonstration (zk STARK) encryption certification technology is developed from the theory of V God. It places multiple layers of encryption to protect user asset data held by the certification platform.

Q3. How do the three additional conditions added by Ouyi OKX enhance the reserve certification POR system?

The three new conditions added by Ouyi OKX ensure the accuracy and effectiveness of user asset data held by the certification platform, reducing the risk of fraud and improving transparency standards in the industry.