Transparency & Audits
How We Prove Your Money’s Safe
We regularly audit our holdings — crypto and fiat — through an independent Proof of Reserves process. Here’s how it works, and why it matters.
Brighty is unwavering in its commitment to transparency. In addition to facilitating the trading, holding, and transferring of digital assets, the Brighty App also provides options for fiat payments and an array of DeFi-based earning solutions. A core feature of the Brighty App is the assurance it offers users that their account balances, both cryptocurrency and fiat, are genuinely backed by actual assets. This assurance is fortified by the app's systematic "Proof of Reserves" audits.
What is Proof of Reserves?
"Proof of Reserves" (PoR) can be thought of as a rigorous financial health check. Through this process, the Brighty App ensures that it maintains the assets it claims to be holding on behalf of its users, whether those assets are in cryptocurrencies, fiat, or DeFi solutions. A neutral third party conducts this audit. This involves capturing a snapshot of all user balances and then methodically organising them within a digital structure known as a Merkle tree. This organisation gives rise to a distinctive digital "fingerprint" representative of all balances at that specific juncture. Following this, the Brighty App furnishes proof of the assets they hold. The auditor meticulously verifies this proof against the Merkle tree, ensuring that the assets reported by Brighty align with or exceed the collective users' balances.
Why is this Important?
The PoR system is akin to a hallmark of transparency and trust. It enables any user of the Brighty App to independently validate whether their account balance was considered during the audit. If any discrepancies or tampering attempts were to occur with the data, it would be glaringly evident—owing to the alteration in the Merkle tree's unique fingerprint.