3 Major Chinese Bitcoin Exchanges BTCChina, Huobi and OKCoin Are Ready to Release 100% Reserve Proof Solutions

19:16 19 Aug,2014 BTCChina announced on its official Weibo that they were about to release its 100% reserve proof solution on Aug.25th and name list of notaries. Official announcement link: https://vip.btcchina.com/page/notice/?id=16zh

19:40 19 Aug,2014 A few minutes after BTCChina's announcement, OKCoin also announced officially that they would launch 100% reserve proof solution which was the same with solution of Bitfinex and Kraken that based on Merkle Tree and notaries for beta test by the end of this week.

12:51 20 Aug,2014 Huobi released it's solution: 80% of users' bitcoins which are not transacted frequently will be saved in the onchain QuickWallet. All transactions and address balance can be checked openly online to prevent forged data. Nobody including the exchange can use the bitcoins in the wallet except the user himself who holds the private key. But those bitcoins can be transferred to Huobi account instantly when user wants them for transaction. To realize the separation of transaction and assets. (Estimate implementation date: end of September)
100% Reserve for the remaining 20% bitcoins which are left in Huobi account will be proofed by solution based on Merkle tree and notaries(Estimate implementation date: end of August).

Related link: BTCChina, OKCoin, Huobi


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