Core Ignition Drop Claiming Guide

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 The Core Ignition Drop, which started the rewards claim on June 10, 2024, allows Coretoshis (Core Community) to unlock incentives for their contributions and engagement in the Core Blockchain. The Incentives claimed by the participating community are based on their activities up from the day they join the program until the snapshot is taken. In this article, I will discuss how to participate in the Core Ignition Drop, its benefits, and more. What is Core Ignition? Core ignition is an incentive program developed by the Core Foundation to jumpstart the growth of the DeFi ecosystem on Core Blockchain, the program started on March 11th, 2024, and will continue for six months, providing ample time for users to participate and reap the benefits, rewarding the community for their contributions to the network. By participating, users can earn rewards while simultaneously helping to fuel the growth and adoption of the Core ecosystem. The Core Ignition Program is for both ecosystem users and We
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Jesse Powell Criticizes Binance's Proof of Reserve.

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The leading Centralized Crypto Exchange Binance releases its proof of reserves system and it has faced criticism from Jesse Powell the CEO of Kraken claiming that Binance's PoR was not complete without the liabilities of the client included.

The idea of Proof of Reserve was introduced by Binance after the FTX Exchange collapsed and shattered people's trust in centralized crypto exchanges, the lack of liquidity was the major cause of FTX's crash. FTX was once the second largest Centralized Crypto Exchange behind Binance which had over $10 billion in transaction volume in 24 hours according to CoinMarketCap.

The purpose of Proof of Reserve (PoR) is to regain investors' trust in centralized crypto exchanges, the PoR system will only support Bitcoin (BTC) at starting while other tokens and networks will follow.

Binance released its Merkle tree proof of reserves showing a reserve ratio of 101%, users can check their Bitcoin balances on the trading platform against Binance's own Merkle Tree, or via a URL supplied by Binance.

Binance mentioned forthcoming transparency enhancements, such as the use of ZK-SNARKs in its PoR procedures. also hinted at the use of third-party auditors to verify the accuracy of its PoR data. All in an effort to gain investors' trust.



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