📝 Centralized exchanges are still the entry point to the blockchain economy, but users are demanding more accountability and security. ☂️ Umbrella Network and Surfer Monkey are partnering to develop a cutting-edge proof of solvency solution for centralized exchanges 🤝 👇👇 There's a growing need for innovative solutions to ensure that exchanges are trustworthy and solvent. To prove solvency, publicly available info on user balances, and non-public info on exchange liabilities and treasury are necessary. The challenge is to prove solvency without disclosing sensitive company info. Umbrella Network has expertise in Merkle Tree tech, while Surfer Monkey are experts in Zero Knowledge Proofs - combining both technologies to create a universal standard for user balance verification. This solution could provide transparency, accountability, and privacy customization options for each exchange. A universally usable and customizable Proof of Solvency solution could bring trust back and continue the positive growth of the blockchain ecosystem. Read the full report here: 👇👇 https://flagship.fyi/outposts/crypto-news/umbrella-network-and-surfer-monkey-team-up-to-develop-blockchain-based-proof-of-solvency-solution-for-centralized-exchanges/ 👉👉👉 Interested in learning more about Proof of Solvency? Check out Umbrella Network's articles, "The Importance of Proof of Reserves" and "Does Proof of Reserve Guarantee Transparency?" 👉 https://medium.com/umbrella-network/the-importance-of-proof-of-reserves-a2df9072dbf8

RT @FlagshipFYI: Centralized exchanges are still the entry point to the blockchain economy, but users are demanding more accountability and…

☂️ 🥳 Umbrella Network announces a partnership with Surfer Monkey 🤝 Get ready for exciting times ahead 🚀 Umbrella is working with Surfer Monkey, a leader in ZKP, to create an innovative privacy-centric Proof of Solvency for CEXs. Discover more in this article👇 https://medium.com/umbrella-network/ensuring-trust-and-transparency-umbrella-network-and-surfer-monkey-join-forces-to-provide-a-68fd26884b89