Bitget Becomes the First Centralized Exchange to Offer Financial Transparency Through Space and Time
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Victoria, Seychelles, 27th March, 2023, Chainwire
Bitget, the largest crypto copy trading platform, has announced a strategic partnership with Space and Time (SxT), a leader in decentralized data warehousing. The partnership will enable Bitget to offer users unparalleled transparency of exchange operations with a verifiably tamperproof audit trail of data and computation.
Bitget is the first centralized exchange to leverage a decentralized data warehouse. The trustless Space and Time platform will provide Bitget users with verifiable evidence that the exchange holds the assets it claims to own on behalf of its clients. Bitget users will also have full transparency about the exchange’s activity, liquidity, assets, and liabilities with the assurance that the data and computation powering the exchange are accurate and haven’t been tampered with.
Bitget has launched its Proof of Reserves Page to demonstrate to users that it is a full-reserve exchange. Bitget’s Proof of Reserves ("PoR"), which uses the cryptographic-audited Merkle tree method, will also validate that users' assets stored on the platform are safeguarded. To support further transparency, the exchange will work with Space and Time, which allows Bitget to provide proof of accounting and assure its users that all exchange operations are both valid and verifiable. Total reserve ratio is 231% according to the data as of Mar 6th 2023, which means Bitget holds more than 100% of the users' total assets (BTC, ETH, USDT, USDC).
“Bitget strives to be the all-in-one global trading platform, and our partnership with Space and Time
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