Responsibility and Regular ReviewsTayton not only provides the capability to trade cutting-edge digital assets but also strives to leverage the transparency of the open-source blockchain on which these assets operate. Through our regular proof of reserves reviews, customers can easily verify that their balances are backed by real assets, with just a few clicks on their accounts. The proof of reserves, a sophisticated cryptographic accounting procedure conducted by trusted accountants, ensures that Tayton meets strict standards of accountability and surpasses the transparency offered by traditional financial institutions.
Stakex Proof of ReservesProof of Reserves (PoR) reviews are conducted by independent third-party accountants to verify that the custodian holds the assets claimed on behalf of customers. The accountant takes an anonymized snapshot of all balances held and aggregates it at Tayton. The Merkle tree is a privacy-friendly data structure that encapsulates all customer balances.
This allows the accountant to obtain Stakex Proof of Reserves. The Merkle root is a cryptographic fingerprint uniquely identifying the combination of these balances at the time the snapshot was created. The accountant then collects digital signatures generated by Tayton to prove ownership of on-chain addresses with publicly verifiable balances. Finally, the accountant compares and validates whether these balances exceed or match the client balances shown in the Merkle tree, ensuring that client assets are under Tayton's control. All clients can independently verify that their balances are included in the Proof of Reserves procedure by comparing the selected data with the Merkle root. Any changes to the remaining data, no matter how minor, would affect the root, making tampering evident.
Stakex Proof of Reserves ReportSpot BalancesThe review includes the balances of all assets held at the time the snapshot was taken. The assets included in the most recent review are: Bitcoin(BTC), Ethereum(ETH), Cardano(ADA), Polkadot(DOT), USD Coin(USDC), Tether(USDT), Ripple(XRP)Staking BalancesIf a balance is allocated to on-chain staking at the time of the snapshot, it is shown as a separate item for that asset.Examples- Spot Balance: If a user holds 1 BTC, the proof of reserves report will include 1 BTC. - Staking Balance: If a user has allocated 10 DOT to on-chain staking, the report will include 10 DOT.Note: Asset Review MethodologySince May 2023, Tayton has been applying an asset review methodology to transparently report users' spot and staking assets. This allows users to confirm that their holdings are accurately reflected.Tayton prioritizes security and transparency to provide a trustworthy staking platform, ensuring the safety of user assets through regular asset reviews.Tayton offers trust and reassurance through asset reviews. Based on your trust, Tayton will continue to grow and develop.
Drawbacks and ImprovementsTayton recognizes these challenges and is continuously striving to ensure the safety and transparency of customer assets. We will continue to do our best to provide an even safer and more reliable staking platform in the future.
Tayton is aware of these shortcomings and continuously strives to ensure the safety and transparency of customer assets. We will continue to do our best to provide a safer and more reliable staking platform.
