On-Chain Proof of Reserves makes information about assets held off-chain available on a blockchain. Reserve data is collected, aggregated and exposed through a live API, allowing oracle networks to publish the information on-chain for use by smart contracts and other stakeholders.
The system can accommodate reserve data from sources such as bank accounts, treasury bonds, vaulted assets and other off-chain holdings. Information is extracted using the data delivery method suited to each source.
Reserve information is extracted from the source and analysed against parameters established for the engagement. A summary is then exposed through a live API, which Chainlink node operators can read and publish on-chain using Chainlink Proof of Reserve or the Chainlink Runtime Environment.
The live API can refresh as frequently as every 30 seconds when the underlying data sources support it. The frequency at which information is published on-chain depends on the availability of the source data and the parameters configured for the oracle feed.
Not on its own. Publishing reserve information on-chain does not, by itself, constitute an attestation under audit or accounting standards. On-Chain Proof of Reserves can, however, be paired with Real-Time Proof of Reserves where a CPA/CA attestation is required.
For standard deployments, data sources can be integrated, aggregated and exposed through the live API within a matter of hours or minutes. The final timeline depends on the number and complexity of the data sources and the requirements of the deployment.
FAQs
Frequently Asked Questions
FAQs
Frequently Asked Questions
On-Chain Proof of Reserves makes information about assets held off-chain available on a blockchain. Reserve data is collected, aggregated and exposed through a live API, allowing oracle networks to publish the information on-chain for use by smart contracts and other stakeholders.
The system can accommodate reserve data from sources such as bank accounts, treasury bonds, vaulted assets and other off-chain holdings. Information is extracted using the data delivery method suited to each source.
Reserve information is extracted from the source and analysed against parameters established for the engagement. A summary is then exposed through a live API, which Chainlink node operators can read and publish on-chain using Chainlink Proof of Reserve or the Chainlink Runtime Environment.
The live API can refresh as frequently as every 30 seconds when the underlying data sources support it. The frequency at which information is published on-chain depends on the availability of the source data and the parameters configured for the oracle feed.
Not on its own. Publishing reserve information on-chain does not, by itself, constitute an attestation under audit or accounting standards. On-Chain Proof of Reserves can, however, be paired with Real-Time Proof of Reserves where a CPA/CA attestation is required.
For standard deployments, data sources can be integrated, aggregated and exposed through the live API within a matter of hours or minutes. The final timeline depends on the number and complexity of the data sources and the requirements of the deployment.