fuse.gold Integrates Chainlink Proof Of Reserve

Twitter icon  •  Published hace 1 año  •  Hassan Maishera

Chainlink announced via Twitter on Thursday that Fuse Gold, a tokenized gold protocol, is integrating Chainlink Proof of Reserve (PoR) into the FUSEG minting function on BNB Chain.

Chainlink announced via Twitter on Thursday that Fuse Gold, a tokenized gold protocol, is integrating Chainlink Proof of Reserve (PoR) into the FUSEG minting function on BNB Chain. By using Proof of Reserve to help verify that the value of gold reserves stored off-chain is equal to or greater than the value of FUSEG tokens on-chain, Fuse Gold said they would be able to better prevent infinite mint attacks that cause the value of tokens minted to exceed the value of the physical gold reserves. Ultimately this will give users stronger assurances that FUSEG tokens remain fully backed 1:1.

Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is down by 3% over the past 24 hours and is trading at $5.533 at press time.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.