Bitcoin

Proof of reserves Industry standard

Proof of reserves Industry standard

In January 2020, Bitcoin Magazine published a description of “Why Proof of Reserves Matters for Bitcoin”.

The timing was no accident – the recent anniversary of the QuadrigaCX implosion kept fresh in the minds of many of us the risks we were trying to avoid, especially here in Canada.

Two years might not seem like a long time to the average person, but it’s a milestone in history in the cryptocurrency world – it’s more than a seventh of Bitcoin’s entire existence. By looking at the industry’s progress in terms of proof of reserves, we can see just how much can happen in that time frame.