Bitget Collaborates With Space and Time To Enhance Cryptocurrency Transparency and Accountability

Bitget recently announced a strategic partnership with Space and Time. This collaboration lets Bitget users achieve unparalleled transparency of exchange operations.

Bitget Looks Toward The Future

Bitget is pioneering in the cryptocurrency space by using a decentralised data warehouse as the first centralised exchange. Users of Bitget will be able to confirm that the exchange actually possesses the assets it says it does on behalf of its customers thanks to the Space and Time platform.

Additionally, users will have complete transparency about the exchange's activity, liquidity, assets, and liabilities, with the assurance that the data and computation powering the exchange are accurate and unaltered.

"Space and Time is building the foundation for a verified and transparent financial economy," said Nate Holiday, CEO and Co-Founder of Space and Time. "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."  

The collaboration addresses a significant challenge in the crypto industry: the need for more transparency in centralized exchanges. Space and Time will allow Bitget to provide proof of accounting, ensuring that all exchange operations are both valid and verifiable. 

What Sets Space and Time Apart

The platform's unique cryptography, called Proof of SQL, proves that query computations were done accurately and that both the query and the data are tamperproof.

Bitget's managing director, Gracy Chen, notes that the collaboration is part of the company's commitment to becoming an all-in-one global trading platform. Given customer desire for greater openness in the crypto industry, the move makes a lot of sense.

By leveraging Space and Time's data warehouse, Bitget aims to strengthen the trust it has built with its growing user base as it expands its product offerings. Overall, the collaboration marks a new era of transparency in centralized businesses. However, only time will tell whether other exchanges will follow Bitget's lead. There is still much work to do in this industry, especially regarding transparency.