OKCoin Reveals BTC Reserves of 104% as China’s Exchanges Undergo Audits

By August 22, 2014Bitcoin Business

Chinese exchange OKCoin today released details of an audit to prove it holds 104.86% of the bitcoin reserves required to cover customer balances.

Going forward, the company will also seek to implement a cryptographic ‘ merkle tree ’ verification system, allowing users to verify for themselves that their account balance was included in the audit data.

Other China-based exchanges are busy working on audits of their own, following recent demand from the local community for the companies to be more […]

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