Hong Fang, President of OKX, joins the show to to announce their twelfth consecutive monthly Proof of Reserve attestation and to discuss how their PoR implementation has changed over time. Covered in this episode:

OKX’s brand refresh
Why OKX chose to launch their monthly PoR attestations a year ago
The importance of PoR today and who is asking for it
Which PoRs they looked at for inspiration
How OKX evolved the procedure from inception to now
The move from merkle liabilities to ZK PoL
The PoR security model and how many users need to check for it to be valid
Handling issues like margin, leverage, and negative balances in their attestation
The relationship between Proof of Reserve and conventional audits
Future directions in PoR and ways to improve
Technical PoR versus audit-enhanced PoR and the role of an auditor
Attacks on PoR and mitigations
Common criticisms of PoR
Why numerous exchanges need to do PoR for it to work overall

Content mentioned:

Nic Carter on Medium, The Status of Proof of Reserve as of Year End 2022
OKX Proof of Reserve Dashboard

Hong Fang (OKX) on Refining Proof of Reserves (EP.467)

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