Bitget, one of the largest crypto copy trading platforms, is pleased to announce it has partnered up with Space and Time (SxT) to offer users unparalleled transparency of exchange operations.
Through this strategic partnership, Bitget will use Space and Times’s trustless platform to give users transparency and a verifiable tamperproof audit trail of computation and data. Space and Time will use its novel cryptography called Proof of SQL for this partnership. The Proof of SQL is designed to cryptographically proves that query computations have been done accurately. Users will now be able to check whether the exchange holds the assets it claims to own on behalf of its customers. This will allow the users to access records of the exchange’s activities, such as liabilities, assets, and liquidity.
Just recently, Bitget launched its Proof of Reserve (PoR) Page to assure its community that it is a full reserve exchange. Designed to use the cryptographic-audited Merkle tree method, the PoR page also helps users validate that their assets stored on the platform are secure. Notably, according to data provided as of March 6 2023, the total reserve ratio is 231% (two folds over the users’ total assets).
While commenting on the partnership, Gracy Chen, Managing Director of Bitget, explained:
“Bitget is first to work toward transparency of proof of accounting and operations through Space and Time. We aim to inspire people to embrace crypto with more protection, transparency and security, which serve as pillars for building a robust platform.”
Bitget has years of experience providing comprehensive and secure trading solutions to its global user base. The platform’s core focus on social trading has been an attractive element to users. Bitget has over 8 million users, 80,000 professional traders and 380,000 followers worldwide. The platform has over 1300 professionals that work together to provide users with the best experience.
Recently, Bitget was ranked among the top five globally by CoinGecko for derivatives trading by volume. Bitget supports over 70 trading pairs for USDT-USDC and Coin margined futures. The platform also has complete quantitative and intuitive trading tools such as Gunbot, Autoview, Sirius, Trader drag-and-drop TP/SL levels and futures calculators.
The exchange has also formed other strategic partnerships, including a $30 million investment in the decentralized multi-chain wallet BitKeep. The partnership saw the merger of BitKeep Wallet with Bitget’s business domain, allowing the exchange to extend its range of services.