CoinPoker is the first poker room in the world to make public information about the amount of its reserves and their correlation with player deposits. Find out all the details about Proof of Reserves at CoinPoker.
On July 27, 2024, the largest crypto poker room announced the availability of detailed information about the site's financial reserves.
“For the first time in the history of online poker, players can verify that Coinpoker maintains a cryptocurrency reserve of at least 100% of the deposits made by players.”
All this information is available in the "Trust" section on the CoinPoker website.
(The screenshot shows the information as of July 31, 2024.)
What information is available to the players?
The Proof of Reserves in the Blockchain is real-time proof of the transactions of a particular wallet, over which there can be no external interference.
This system proves without a doubt that CoinPoker has enough money to cover the players' balance, which means that for every unit of cryptocurrencies in the players' account, the poker room has an equivalent amount in its reserve.
Verifying this segregation of funds is proof of trust for CoinPoker (as this data corresponds only to the deposits of the players and not to the corporate balance of the room). The Proof of Reserves confirms that the players' funds are safe in case of any hacking.
To date, only a few cryptocurrency exchanges have shared such information.
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