Given the situation, crypto experts say that is imperative for crypto exchanges to build trust for their users. A simple but effective way for exchanges to build trust amongst their users is for exchanges to declare 'proof of reserves' publicly. Proof-of-reserves is a way to allow customers to monitor the balances of an exchange.
Experts however say that the new provision can affect trading volumes as the complex world of crypto can make it challenging to enable the provision operationally.
Will 2022 promise to be another great for Bitcoin and Ethereum despite the recent volatility? Which new tokens are expected to dominate the rally in 2022? Read more here.
Polygon's MATIC rose last week on the back of implementation of Miden, a ZK-rollup solution that helps scale the Polygon Network with zero knowledge proof (ZK).