OKX Security Special｜PoR Chapter: Understanding an Exchange's "Health Check Report" in 5 Minutes

1. PoR (Proof of Reserves) is a cryptographic verification mechanism used to demonstrate that an exchange's on-chain held assets are sufficient to cover users' total assets in a 1:1 ratio, ensuring transparency and user privacy, proving that the exchange has not misappropriated user funds and has solvency.

2. The three main steps and ideas of a PoR report: Overview (total user assets, platform total liabilities, and reserve ratio), Coin Details Check (inclusion of major coins), Detection of Common Patterns (such as fund shuffling between associated addresses, creation of fake liability accounts, etc.).

3. Evaluation of six key data points in a PoR report: Reserve ratio exceeding 100%, Inclusion of major coins in the PoR coverage, Reserve cleanliness (proportion of non-platform token assets to total reserve), Trend in reserves of major coins like BTC and ETH, Top 10 major coin distribution, Frequency of PoR report publication.

4. PoR report data should not be interpreted in isolation but combined with on-chain tracking, third-party platform verification, and the exchange's own public mechanisms to form a more comprehensive and objective assessment.

5. OKX adopts zk-STARK zero-knowledge proof technology, with globally open-source code, effectively preventing fake liability account schemes. Users can self-verify to prevent falsification of PoR reports, enhancing transparency and security.