CMC Launches Proof-of-Reserves

In this climate, the cryptocurrency space is putting even more emphasis on transparency. Luckily, blockchain is built for transparency — as an immutable, decentralized ledger, it’s quite easy in crypto to share your financial reserves with irrefutable, blockchain-based proof.

With this need for transparency in mind, CoinMarketCap is now showing crypto exchanges’ proof-of-reserves on our ranking pages. More and more cryptocurrency exchanges have begun revealing their proof-of-reserves in the wake of the recent industry disquiet, and we believe in the importance of giving CMC users all of the information possible about each exchange, project and token.

If you are keen to add PoR data on your CMC page, kindly complete this template (https://docs.google.com/spreadsheets/d/1ON2o9fZtdj6aa_uaT7ALtGx1VxFnIDUi8-uS-fWji0o/edit#gid=1931609390) in the prescribed format and submit it here (https://support.coinmarketcap.com/hc/en-us/requests/new?ticket_form_id=360000553552)

CoinMarketCap stands for high-quality, neutral and information data: as a first-mover and industry veteran, we aim to highlight the cryptocurrency revolution as it continues to change and grow.

Having pioneered the current understanding of crypto ranking by market cap way back in 2013, we at CMC are constantly updating our data products in order to more accurately reflect what new crypto users want to know — and right now, that is the peace of mind and safety that comes with transparent proof-of-reserves.

How Does CMC’s Proof-of-Reserves Work?

It’s quite easy — head to CMC’s “Exchanges” tab and then toggle to our “Spot” tab.

You can see we have added a “reserves” icon right besides the exchanges. If an exchange has an icon, it means that they support proof-of-reserves right now.

Once you click the “proof-of-reserves” icon, you will jump to a more detailed dashboard to see what exactly is inside.