How to use Gate.io Proof of Reserves to Verify Your Funds' Safety on Gate.io?
This lesson will guide you through using the Gate.io front-end interface and open-source code tools to verify the security of your funds.
How to Check the Reserve Ratio?
Click the link or go to the bottom of the Gate.io page and click the [100% Proof of Reserves] button to enter the Gate.io Proof of Reserves page.
After entering the Gate.io Proof of Reserves page, users can directly view the update time of the current reserve. In the example below, the latest audit was on November 10, 2023, using Markle Tree + zk-SNARKs. The customer net balance is approximately $2.77 billion, and the Gate wallet balance exceeded the customer net balance by $434 million, which is $3.206 billion. The total reserve ratio is 115.69%.
Scrolling down the page will display the specific coin’s quota and reserve ratio. Taking the first coin, BTC, in the figure as an example, as of December 8, 2023, users have deposited 13.85K BTC, and the number of BTC held in Gate wallet is 17.10K. The reserve ratio of BTC reaches 123.52%.
Click on the page number in the lower right corner to view the reserve ratio of up to 112 coins provided by Gate.io. Click on “Verify now” to display the verification tutorial, which can be used to verify whether your account balance is included, thus confirming that the reserve ratio is the result of your funds being counted normally.
Another way to view your asset audit status is to go to the “Audits” page in your own account page to view your historical audit records and Gate.io comprehensive reserve situation.
How to Verify Asset Security?
[1] Download Verification Program
Users can download the program through the download entrance provided by Github or the reserve page, and rename it to [main]:
[2] Download Asset Verification Data
Enter the personal audit page, find the batch that needs to be verified, and click [Download Merkle Tree] and [Download User Config] to download the data.
After the download is complete, you will have a compressed file named zkmerkle_cex_xxx.tar.gz, put the main program (the verification program file mentioned earlier) into the folder, and put the user_config.json file into the config folder. After everything is done, the file structure will be as follows:
Completing this step concludes all the preliminary preparations, and you can proceed with the formal verification.
[3] Verify Exchange Assets
Users can directly enter [cmd] or enter [cd ~/Downloads/zkmerkle_cex_xxx] and other commands in the terminal to access the zkmerkle_cex_xxx file configured above.
Then enter:
./main verify cex
If the verification is successful, the output will be:
All proofs verify passed!!!
[4] Verify Your Assets
Enter the following command to verify your assets:
./main verify user
If one’s assets are calculated normally, the account and balance data are a leaf node of the total Merkel tree, so successful verification will output:
merkle leave hash: 164bc38a71b7a757455d93017242b4960cd1fea6842d8387b60c5780205858ce
verify pass!!!
If you want to explore more technical details, click here to go to Github to view the open-source code.
Conclusion
Enabling zk-SNARK is an important upgrade to Gate.io’s Proof of Reserves and one of the key actions in the security and protection of user assets. The excellent dual guarantee of security and privacy will instill more user confidence and set a new model for the whole cryptocurrency industry.
How to use Gate.io Proof of Reserves to Verify Your Funds' Safety on Gate.io?
This lesson will guide you through using the Gate.io front-end interface and open-source code tools to verify the security of your funds.
How to Check the Reserve Ratio?
Click the link or go to the bottom of the Gate.io page and click the [100% Proof of Reserves] button to enter the Gate.io Proof of Reserves page.
After entering the Gate.io Proof of Reserves page, users can directly view the update time of the current reserve. In the example below, the latest audit was on November 10, 2023, using Markle Tree + zk-SNARKs. The customer net balance is approximately $2.77 billion, and the Gate wallet balance exceeded the customer net balance by $434 million, which is $3.206 billion. The total reserve ratio is 115.69%.
Scrolling down the page will display the specific coin’s quota and reserve ratio. Taking the first coin, BTC, in the figure as an example, as of December 8, 2023, users have deposited 13.85K BTC, and the number of BTC held in Gate wallet is 17.10K. The reserve ratio of BTC reaches 123.52%.
Click on the page number in the lower right corner to view the reserve ratio of up to 112 coins provided by Gate.io. Click on “Verify now” to display the verification tutorial, which can be used to verify whether your account balance is included, thus confirming that the reserve ratio is the result of your funds being counted normally.
Another way to view your asset audit status is to go to the “Audits” page in your own account page to view your historical audit records and Gate.io comprehensive reserve situation.
How to Verify Asset Security?
[1] Download Verification Program
Users can download the program through the download entrance provided by Github or the reserve page, and rename it to [main]:
[2] Download Asset Verification Data
Enter the personal audit page, find the batch that needs to be verified, and click [Download Merkle Tree] and [Download User Config] to download the data.
After the download is complete, you will have a compressed file named zkmerkle_cex_xxx.tar.gz, put the main program (the verification program file mentioned earlier) into the folder, and put the user_config.json file into the config folder. After everything is done, the file structure will be as follows:
Completing this step concludes all the preliminary preparations, and you can proceed with the formal verification.
[3] Verify Exchange Assets
Users can directly enter [cmd] or enter [cd ~/Downloads/zkmerkle_cex_xxx] and other commands in the terminal to access the zkmerkle_cex_xxx file configured above.
Then enter:
./main verify cex
If the verification is successful, the output will be:
All proofs verify passed!!!
[4] Verify Your Assets
Enter the following command to verify your assets:
./main verify user
If one’s assets are calculated normally, the account and balance data are a leaf node of the total Merkel tree, so successful verification will output:
merkle leave hash: 164bc38a71b7a757455d93017242b4960cd1fea6842d8387b60c5780205858ce
verify pass!!!
If you want to explore more technical details, click here to go to Github to view the open-source code.
Conclusion
Enabling zk-SNARK is an important upgrade to Gate.io’s Proof of Reserves and one of the key actions in the security and protection of user assets. The excellent dual guarantee of security and privacy will instill more user confidence and set a new model for the whole cryptocurrency industry.