Bitget, the largest crypto copy trading platform, has entered into a strategic partnership with Space and Time (SxT), a leader in decentralized data warehousing. The partnership aims to provide Bitget users with unparalleled transparency of exchange operations through a tamperproof audit trail of data and computation.
As the first centralized exchange to leverage a decentralized data warehouse, Bitget is taking a significant step towards ensuring its users’ trust and confidence. By partnering with Space and Time, Bitget can offer its users verifiable evidence that the exchange holds the assets it claims to own on behalf of its clients.
The partnership will also give Bitget users full transparency about the exchange’s activity, liquidity, assets, and liabilities. They will also be assured that the data and computation powering the exchange are accurate and tamper-proof.
Centralized crypto exchanges typically publish proofs to assure users that their assets exist, but the accounting of financial operations is often conducted in opaque, black-box systems. Space and Time’s technology will allow Bitget to provide proof of accounting and assure its users that all exchange operations are both valid and verifiable.
Gracy Chen, Managing Director of Bitget, said, “Bitget strives to be the all-in-one global trading platform, and our partnership with Space and Time highlights our commitment. More than ever, users want to see transparency from exchanges. Bitget is the first to work towards transparency of proof of accounting and operations through Space and Time.”
Space and Time is the first decentralized data warehouse that combines tamperproof on-chain and off-chain data. In addition, the platform has developed a novel cryptography called Proof of SQL, which cryptographically proves that query computations were done accurately, and both the query and the data are tamperproof.
Nate Holiday, CEO, and Co-Founder of Space and Time, said:
“Space and Time is building the foundation for a verified and transparent financial economy. We’re thrilled to work with Bitget to provide market-leading proofs for accounting and verifiability of operations. This partnership marks a new era of transparency for centralized businesses.”
Bitget plans to leverage the Space and Time data warehouse to run verifiable computations against on-chain and off-chain data. The transparency enabled by Space and Time will help Bitget strengthen the trust it has built with its growing user base as it continues to expand its product offerings to become a one-stop investment solution.
The partnership with Space and Time sets a new standard for transparency and trust in centralized exchanges. As users demand more transparency, related efforts can resonate with investors looking for a reliable and trustworthy platform.
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