Binance CEO CZ begins working on Vitalik Buterin’s ‘safe CEX’ ideas
Cointelegraph
Published Nov 19, 2022 05:50AM ET
Updated Nov 20, 2022 11:40AM ET
The collapse of numerous major crypto ecosystems in 2022 revealed the urgent need for revamping the way crypto exchanges operate. Ethereum co-founder Vitalik Buterin believed in exploring beyond “fiat” methods to ensure the stability of crypto exchanges, including technologies such as Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARKs).
Following a discussion with angel investor Balaji Srinivasan and crypto exchanges such as Coinbase (NASDAQ:COIN), Kraken and Binance, Buterin recommended options for the creation of cryptographic proofs of on-chain funds that can cover investor liabilities when required, also known as safe centralized exchanges (CEX).
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Written By: Cointelegraph
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