• Bitget has partnered with Space and Time to increase exchange operations transparency for its users.
• This move provides verifiable evidence that the exchange holds the assets it claims to own on behalf of its clients.
• Space and Time is a decentralized data warehouse that provides verifiable and transparent financial economy.
Bitget Partners With Space and Time For Greater Exchange Transparency
Bitget, the world’s largest crypto copy trading platform, has taken a groundbreaking step towards greater transparency in centralized exchanges by partnering with Space and Time. The move will provide unparalleled exchange operations transparency, allowing users verifiable evidence that the exchange holds the assets it claims to own on behalf of its clients.
More Exchange Transparency Required
Most centralized crypto exchanges publish proofs to assure users that their assets exist, however accounting of financial operations is conducted in opaque, black-box systems. With this partnership, Bitget will now be able to offer proof of accounting and assure its users that all exchange operations are both valid and verifiable.
Space and Time Breaks Ground
Space and Time is the first decentralized data warehouse that joins tamperproof on-chain and off-chain data, providing a verifiable and transparent financial economy. The company has developed a novel cryptography called Proof of SQL which cryptographically proves that query computations were done accurately without tampering with either the query or the data. Bitget will leverage this technology to run verifiable computations against both on-chain and off-chain data strengthening trust between them and their growing user base as they continue their product expansion efforts.
Managing Director Comments
Gracy Chen, Managing Director of Bitget said “More than ever, users want to see transparency from exchanges. Bitget is first to work toward transparency of proof of accounting and operations through Space and Time.“
Disclaimer
This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice