Gate.io’s Proof of Reserves Implementation Passes Hacken’s Security Audit
Jan 22nd, Panama – Gate.io, a leading crypto exchange and Web3 innovator, announced that its latest Proof of Reserves (PoR) methodology passed a comprehensive security review conducted by Hacken, a pioneer in blockchain and Web3 security auditing. The accompanying report found no severe issues.
Released on January 3, the report describes Gate.io’s PoR method as a balance of functionality and complexity and that it “contributes significantly to the field, demonstrating a clear understanding and application of key principles in blockchain technology and cryptographic systems.”
Hacken’s security audit process involves a rigorous analysis of the code and functionality of Gate.io’s PoR, checking it against known vulnerabilities. The review covered key areas such as dependency management, cryptographic frameworks, code quality, error handling, and testing.
Dr. Lin Han, Founder and CEO of Gate.io, said: “We’re grateful for Hacken’s thorough and diligent security review, leaving no stone unturned. Ensuring the integrity of our PoR is a commitment not only to user asset safety but also to the entire blockchain industry. Hacken plays an important role in fortifying this commitment and ensuring we continually set the bar high.”
Hacken’s review also outlined improvements to non-critical issues with the PoR method. Gate.io will further iterate and improve its PoR as part of its ongoing commitment to user asset security.
“As the digital landscape evolves, the imperative for transparency becomes non-negotiable. At Hacken, we initiated our Proof of Reserves journey in 2019, laying the groundwork with extensive market research. Since 2022, we have been conducting Proof of Reserves audits. Centralized Exchanges must embrace this standard,
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