Binance’s Proof of Reserves system essentially allows users to verify through a cryptographic tool called a Merkle Tree to verify that the cryptocurrency has their assets in reserve, backing their deposited funds on the platform.

Both $SHIB and $DOT were added alongside Solana ($SOL) and Chiliz ($CHZ) to Binance’s system, bringing the total number of verifiable assets on the platform to 13.

The leading cryptocurrency exchange’s verification system has also been recently upgraded with zk-SNARKs,  a “zero-knowledge verification method that keeps sensitive information private and more secure.”