Binance Has Plans to Create a Metaverse
Binance has said that it plans to develop solutions to ensure transparency in the operation of the platform and the creation of a metaverse.
According to Mayur Kamat,, Head of Product at Binance, the developers of the company will continue to improve the concept of Proof-of-Reserves launched at the end of last year. Now they are preparing to release several products based on zk-SNARK to implement the Proof-of-Solvency mechanism, which will confirm the solvency of the exchange.
The crypto exchange also plans to reach 1 billion verified users by streamlining its know-your-customer (KYC) process.
At the same time, the platform is exploring the possibility of creating its own metaverse. According to Binance CEO Changpeng Zhao, it will “definitely work on Binance Coin.”
