PoR: Difference between revisions
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This real-time auditing of collateral helps to ensure that user funds are protected from “unforeseen fractional reserve practices and other fraudulent activity from off-chain custodians.” In doing so, PoR helps to bring a higher degree of transparency to the crypto ecosystem as a whole and it addresses some of the biggest complaints about how the current financial system operates. | This real-time auditing of collateral helps to ensure that user funds are protected from “unforeseen fractional reserve practices and other fraudulent activity from off-chain custodians.” In doing so, PoR helps to bring a higher degree of transparency to the crypto ecosystem as a whole and it addresses some of the biggest complaints about how the current financial system operates. | ||
--[[User:Reggie|Reggie]] ([[User talk:Reggie|talk]]) 08:52, 20 June 2022 (UTC) | --[[User:Reggie|Reggie]] ([[User talk:Reggie|talk]]) 08:52, 20 June 2022 (UTC) | ||
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https://chain.link/case-studies/celsius - Good quotes in this article. "As users and developers adopt more blockchains and layer-2 networks, liquidity becomes siloed across the ecosystem. Unlocking this fragmented liquidity through wrapped tokens and creating more interoperability is a critical challenge for the ecosystem to solve. Without a solution to this issue, the benefits of permissionless composability are reduced and developers need to start from scratch every time a new ecosystem is bootstrapped. | |||
But how can projects make sure that wrapped tokens remain sufficiently collateralized when connectivity between different blockchains is inherently limited? While ensuring that wrapped tokens are collateralized at all times is critical for a robust cross-chain ecosystem, using centralized intermediaries and manual audits introduces efficiency bottlenecks and centralization risks. | |||
An automated process is required that helps secure the minting and redemption of wrapped tokens and enables Celsius to securely, transparently, and reliably audit reserves so that users can move assets between blockchains and provide cross-chain liquidity." | |||
--[[User:Reggie|Reggie]] ([[User talk:Reggie|talk]]) 08:53, 20 June 2022 (UTC) | |||
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Revision as of 08:53, 20 June 2022
PoR Discussion Page
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Welcome to the talk page for discussing improvements to the PoR article. Talk pages (also known as discussion pages) are Wiki administration pages where editors/contributors discuss improvements that can be made to an article. NOTE: Discussion pages are not a forum for general discussion of the article's subject. When you post a message on a talk page, you should always sign and date your comment so that other editors can follow the thread of the conversation. To do this, either type four tildes (~) at the end of your comment or just click the signature button on the row of buttons above the edit box. |
With PoR, the cryptocurrency holdings of a company can be easily audited through an automated process that leverages the transparency of blockchains, smart contracts and oracles.
This real-time auditing of collateral helps to ensure that user funds are protected from “unforeseen fractional reserve practices and other fraudulent activity from off-chain custodians.” In doing so, PoR helps to bring a higher degree of transparency to the crypto ecosystem as a whole and it addresses some of the biggest complaints about how the current financial system operates. --Reggie (talk) 08:52, 20 June 2022 (UTC)
https://chain.link/case-studies/celsius - Good quotes in this article. "As users and developers adopt more blockchains and layer-2 networks, liquidity becomes siloed across the ecosystem. Unlocking this fragmented liquidity through wrapped tokens and creating more interoperability is a critical challenge for the ecosystem to solve. Without a solution to this issue, the benefits of permissionless composability are reduced and developers need to start from scratch every time a new ecosystem is bootstrapped.
But how can projects make sure that wrapped tokens remain sufficiently collateralized when connectivity between different blockchains is inherently limited? While ensuring that wrapped tokens are collateralized at all times is critical for a robust cross-chain ecosystem, using centralized intermediaries and manual audits introduces efficiency bottlenecks and centralization risks.
An automated process is required that helps secure the minting and redemption of wrapped tokens and enables Celsius to securely, transparently, and reliably audit reserves so that users can move assets between blockchains and provide cross-chain liquidity." --Reggie (talk) 08:53, 20 June 2022 (UTC)