Why Bitcoin Exchange Audits Don't Go Far Enough

Why Bitcoin Exchange Audits Don't Go Far Enough

Bitcoin exchanges have further to go to prove their good standing to customers, say the experts that inspected them - but solutions are just around the corner. Last week, CoinDesk explored bitcoin exchange Kraken, and showed you how the company did its best to prove it possessed the bitcoins it claimed. Bitcoin luminary Stefan Thomas used cryptographic proofs to confirm that the US exchange wouldn't be caught short if there was a run on its bitcoins, and that it wouldn't suddenly be embarrassed, Mt. Gox-style, to find that a hacker had secretly been stealing its coins. Kraken passed the....


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