Chainlink News and Transparency Innovations: 21.co's Proof of Reserve Integration
Chainlink PoR: Transforming Bitcoin Transparency
21.co, the parent company of 21Shares, has successfully integrated Chainlink’s Proof of Reserve (PoR) on both Solana and Ethereum platforms. This critical development promotes increased transparency for its Wrapped Bitcoin 21BTC. With this system in place, users can enjoy the assurance that their Bitcoin assets are verified in real-time, maintaining full collateralization at a 1:1 ratio with actual Bitcoin held in cold storage.
Launching 21BTC: A New Era for Crypto Users
In May 2024, 21.co launched 21BTC on Solana, leading to a swift expansion to Ethereum in partnership with Flow Traders, a prominent market maker. This unique integration of Chainlink's technology bolsters the reliability of cryptocurrency investments, making users more confident in their transactions.
Why Chainlink Matters
- Enhances verification processes.
- Increases trust in blockchain technologies.
- Supports real-time asset verification.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.