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General
TrustReserve is a tech aggregator and reseller, specializing in providing advanced blockchain and digital asset solutions. Acting as a comprehensive hub for businesses, it operates on a platform that is both firm and product-agnostic, delivering highly customizable and scalable technology services across sectors such as financial services, assurance, tax, accounting, and asset management.
TrustReserve partners with top-tier technology providers to ensure clients have access to cutting-edge blockchain solutions, aiming to simplify blockchain complexities and turn them into transformative business opportunities. Our trusted network of professional service firms provides expert guidance and tailored solutions to help simplify and optimize your business operations, ensuring that you can focus on growth and innovation.
By setting global standards for blockchain data presentation and integration, TrustReserve empowers businesses to unlock the full potential of blockchain technology and stay competitive in a rapidly evolving digital landscape.
More information can be found at About Us
A tech aggregator and reseller is an organization that consolidates technology solutions from various providers into a single, comprehensive offering. They simplify the process for clients by sourcing, integrating, and managing multiple technologies in one place. As a reseller, they also handle the distribution and sale of these technologies, often providing services like customization, implementation, and ongoing support to ensure clients can fully leverage the aggregated solutions. In essence, the tech aggregator acts as a central hub, bringing together the best-in-class technologies and delivering them as a unified solution.
A node operator is an individual or entity responsible for running and maintaining a node within a blockchain network. Nodes are essential components of a blockchain network, as they store a copy of the blockchain’s entire transaction history and participate in the validation and propagation of new transactions and blocks.
Node operators play a critical role in ensuring the security, integrity, and decentralisation of the blockchain network. They contribute to the consensus mechanism by validating transactions and blocks, thereby helping to maintain the network’s trustless nature.
Depending on the specific blockchain network, node operators may perform various tasks, including:
1. Storing a copy of the blockchain ledger.
2. Validating transactions and blocks according to the network’s consensus rules.
3. Propagating validated transactions and blocks to other nodes in the network.
4. Participating in governance processes, such as voting on protocol upgrades or changes.
5. Providing services such as API access or data querying for other network participants.
Node operators typically run specialised software on dedicated hardware to perform these tasks efficiently and reliably. They may operate nodes as part of their own infrastructure or as a service for other participants in the network.
Blockchain
Blockchain technology is a decentralised digital ledger that records transactions across multiple computers. This setup ensures that recorded transactions cannot be altered retroactively.
Blockchain uses cryptographic techniques to ensure data integrity and prevent unauthorized access or modifications, making transactions highly secure.
Smart contracts are self-executing contracts with the terms of the agreement directly written into lines of code, which automatically execute when conditions are met.
Read more about Smart Contracts here: Smart Contracts
A blockchain node is a connection point within a blockchain network that possesses a copy of the ledger and participates in its functioning.
Yes, our services include blockchain consulting, implementation support, and custom blockchain development services.
Decentralised applications (DApps) are digital applications that run on a blockchain or peer-to-peer network of computers instead of a single computer, making them resistant to censorship and central points of failure.
DeFi refers to financial services that are built on top of blockchain technologies, typically using smart contracts. They offer alternatives to traditional financial systems, such as banks, allowing for lending, borrowing, or trading without intermediaries.
Tokenisation is the process of converting rights to an asset into a digital token on a blockchain. These tokens can represent real-world items like real estate, artwork, or commodities, making transactions and ownership transfers easier and more secure.
A distributed ledger is a database that is consensually shared and synchronized across multiple sites, institutions, or geographies, accessible by multiple people.
Yes, we offer services to integrate blockchain technology with your existing products to enhance security, efficiency, and transparency of your operations.
We provide training sessions, documentation, and ongoing support to help customers adopt and effectively use blockchain technology.
Traditional databases are centralised, controlled by a single entity, and prone to cyber-attacks. Blockchain databases are decentralised, distributed across multiple nodes, and secure through consensus mechanisms and cryptography.
Proof of Work (PoW) and Proof of Stake (PoS) are consensus mechanisms used to confirm transactions and produce new blocks on a blockchain. PoW requires solving complex mathematical puzzles, while PoS involves validators who are chosen to create new blocks based on the number of coins they hold and are willing to “stake” as collateral.
Read more about proof of work and proof of stake here: Consensus Mechanisms
ICOs are a type of fundraising mechanism where new projects sell their underlying cryptocurrency tokens in exchange for bitcoin and ether. It’s somewhat similar to an initial public offering (IPO) where investors purchase shares of a company.
We provide a wide range of blockchain and digital asset solutions, including platforms, development tools, and enterprise solutions for building and deploying blockchain applications. Our offerings also feature LedgerLens products such as real-time reserves monitoring, Proof of Reserves reporting, and attestation tools to ensure transparency and security in digital asset operations. Additionally, our services encompass smart contract audits, security audits, code reviews, as well as treasury and portfolio management solutions to optimize your blockchain and digital asset activities.
Products
LedgerLens is a comprehensive platform designed for auditors and accountants, specifically to manage digital asset audits and attestation services. It offers tools for conducting Proof of Reserves, real-time attestations, and on-chain verification. By streamlining complex blockchain-related audit tasks, LedgerLens helps businesses and auditors verify digital assets, ensuring transparency and compliance with industry regulations. It supports functions like financial statement audits, compliance engagements, and digital asset attestations, providing a reliable framework for blockchain-based assurance and transparency.
TrustReserve’s Proof of Reserves, powered by LedgerLens™, is a web application accessible through an embeddable widget that displays information from Proof of Reserves attestation engagements.
This tool offers two key functions: (1) It allows users to verify that their account balance was included in a specific Proof of Reserves attestation, and (2) it provides access to download Agreed Upon Procedures reports for specific points in time.
The system is especially useful for management teams of digital asset platforms, offering a transparent way to share periodic attestation reports with customers. These reports cover two main areas: (1) total user account balances for in-scope tokens (on-platform liabilities) and (2) the digital assets held as reserves to meet customer obligations.
Independent auditors conduct these engagements to verify the specific customer liabilities and the corresponding digital assets held in reserve. It’s important to note that these reports do not cover other liabilities or assets of the company and are not intended to replace financial statement audits. Instead, they provide supplementary information and do not assess a company’s overall financial condition or solvency.
For more information, please refer to the Proof of Reserves
A Merkle Tree is a cryptographic technique used to efficiently summarise large datasets into a single hash known as the Merkle Root. This Merkle Root functions like a cryptographic fingerprint, encapsulating all the input data. The structure of Merkle Trees also allows for efficient verification of specific data elements within a large dataset.
This feature is particularly useful in our Proof of Reserves assessments, where we use these properties of Merkle Trees to verify and confirm the inclusion of individual user accounts in the Proof of Reserves Attestation Report. Merkle Trees are integral to the functioning of major blockchain protocols such as Bitcoin and Ethereum, where they provide a unique cryptographic hash for every block of transactions.
In our Proof of Reserves, we employ a similar approach to generate a unique hash for all user accounts in a trading platform’s database. Additionally, Merkle Trees give users the ability to verify the specific contents that were included within a particular set of “sealed” data. This process ensures the integrity and verifiability of the data, bolstering trust and transparency in digital transactions.
No, the Proof of Reserves process and customer verification provided through the LedgerLens widget are not in real-time. Instead, they reflect a specific point in time.
This point in time is clearly indicated in both the Agreed Upon Procedures (AUP) reports and on the widget interface when selecting a date for current or past assessments.
Proof of Reserves Attestation Engagements are typically conducted on a regular basis, usually monthly. While the widget is a valuable tool for customer verification, it is important to note that the data corresponds to the most recent assessment as of the date and time shown, rather than offering a real-time or continuously updated view. This ensures that each assessment is accurate and reflects reserves at a specific, defined moment.
Auditor
Toolkit
- Merkle Tree Proof of Reserves
Proof of reserve
use case
- Exchanges
- Custodians
- Trading Platforms
Defining
characteristic
Periodic Auditor Reporting with Merkle Tree for Customer Verification
Auditor
Toolkit
- Real-Time Proof of Reserves
Proof of reserve
use case
- Stablecoins
- Asset-backed Tokens
- ETFs
Defining
characteristic
Auditor Attestations as Frequent as Every 30 Seconds
Auditor
Toolkit
- On-Chain Proof of Reserves
Proof of reserve
use case
- Stablecoins
- Asset-backed Token
Defining
characteristic
Off-Chain Data Published On-Chain via Chainlink
Real-Time Reserves refer to the continuous monitoring and verification of assets held in reserve, providing real-time updates on the quantity and composition of these reserves. Unlike traditional Proof of Reserves, which typically involves periodic attestations or snapshots of reserve holdings, Real-Time Reserves offer a dynamic and ongoing assessment of reserve assets, ensuring greater transparency and responsiveness to changes in asset holdings.
TrustReserve’s Real-Time Reserves platform, powered by LedgerLens, serves as a trust and transparency middleware, catering to stablecoins, asset-backed tokens, and exchange-traded products. By integrating seamlessly with various data sources such as blockchain nodes, API keys, and pricing feeds, Real-Time Reserves enables real-time asset-liability matching and facilitates the generation of attestation demand. This capability not only enhances transparency but also fosters confidence among clients and stakeholders.
For more information, please refer to the Real-Time Reserves Page
LedgerLens Real-Time Reserves is used by multiple parties in different capacities.
Crypto Instrument Issuers (management) use LedgerLens to provide trust and transparency to their customers and token holders by providing transparency and reporting to real-time data related to the specific liabilities, and assets at issue.
Crypto Instrument Holders: use the information produced by LedgerLens for informational purposes.
CPA & Accounting Firms: can license LedgerLens technology to produce real-time attestation reports for their clients.
Regulators: can view point-in-time attest reporting generated by the LedgerLens system to gain insights into the operations of management.
LedgerLens’ architecture enables the system to support many different types of products, and the assets held in reserve. For instance, LedgerLens Real-Time Reserves supports:
Stablecoins:
- Liability Issued: Tokens pegged to a unit of fiat currency (typically $1)
- Assets held as Collateral: Fiat in a bank account or crypto held in a “vault”
Asset-backed Tokens:
- Liability Issued: Tokens pegged to the USD value or physical unit of measure of an external commodity (e.g. gold)
- Assets held as Collateral: Gold bars held in a vault
Digital Asset Exchange Traded Products (ETPs):
- Liability Issued: Security Instrument tradable on a stock exchange marketplace which tracks the price of a specified digital asset.
- Assets held as Collateral: Digital assets held in custody on behalf of ETP holders
To compile and provide real-time data, LedgerLens Real-Time Reserves integrates with many different data sources. The data sources for each LedgerLens Real-Time Reserves client installation depend on the nature of the supported instrument (for instance, a fiat-backed stablecoin will have different data sources than the data sources of a crypto-backed ETP). LedgerLens’ infrastructure includes, but is not limited to, the following integration types:
Blockchain Nodes: The operator of LedgerLens hosts blockchain nodes to independently query address balance and transactional data.
Bank, Trust & Escrow Providers: LedgerLens utilizes API keys granted by banking and escrow partners to query and store real-time account balance data, typically related to the fiat-backing of stablecoins.
Exchanges and Custodians: LedgerLens utilizes API keys granted by exchanges and custodians to pull real-time account balances data.
Pricing Feeds: LedgerLens integrates pricing and exchange rates as applicable to apply USD values to digital assets.
Each of these data sources is queried at a specific interval (as frequently as every 30 seconds), to provide the most current data possible for each LedgerLens Real-Time Reserves client installation/widget.
For more information, please refer to the Real-Time Reserves Page
LedgerLens Real-Time Reserves currently supports 2 types of attestation reports:
- AT-C 205 Examination Reports (as promulgated by the American Institute of Certified Public Accountants)
- AT-C 215 Agreed-Upon Procedures Engagements (as promulgated by the American Institute of Certified Public Accountants)
The LedgerLens Real-Time Reserves team is looking to expand support for additional attestation and reporting standards, including international engagement and reporting standards.
A ripcord is a pre-condition or requirement for publishing a new attestation widget in the LedgerLens™ Real Time Reserves™ system. If any ripcord is triggered, a new widget will not be generated, and the last available report remains downloadable. Four types of ripcords exist, each with varying strengths, and only the strongest triggered ripcord is presented in the system.
Ripcords ensure accurate automated attestation reporting by performing checks to verify that all necessary information from third-party sources is available. This prevents under-reporting of assets, especially during maintenance or downtime of external APIs, thereby maintaining the integrity of asset-backed tokens like stablecoins.
- Management: Triggered if management fails to acknowledge representations or if events affecting management’s ability to make necessary assertions occur.
- Integrations: Triggered by errors from asset or liability sources, affecting the total liabilities or assets in the system.
- Pricing: Triggered by errors or non-responses from pricing sources, preventing the application of fiat values to collateral assets.
- Balances: Triggered by imbalances where liabilities exceed assets, typically due to temporary issues or actual discrepancies.
- None: Indicates no conditions were detected to trigger the above ripcords during the last reporting interval.
Oracle Services in the context of blockchain serve as vital intermediaries bridging the gap between blockchain networks and real-world data sources. This crucial role is necessary because blockchains are inherently decentralised and trustless systems, requiring consensus among network nodes without relying on centralised entities. However, certain applications require access to off-chain data, such as stock prices or weather information, which is not inherently available on the blockchain. Oracle Services facilitate the secure and reliable access of this external data by smart contracts, enabling blockchain applications to automate various processes while maintaining accuracy and integrity.
For more information, please refer to the Oracle Services
TrustReserve ensures the reliability and security of off-chain data brought on-chain by employing advanced cryptographic techniques and utilising multiple oracles to verify data authenticity and achieve consensus. This approach mitigates the risk of data manipulation by malicious actors, safeguarding against vulnerabilities in smart contracts or decentralised applications (dApps). Additionally, TrustReserve establishes protected connections between its oracle service and the smart contracts or dApps utilising the data, using encryption and other security measures to prevent hacking or data breaches.
Yes, TrustReserve’s Oracle Services can be integrated with any blockchain network, offering seamless connectivity and effortless integration capabilities. The comprehensive integration library supports over 100 integrations across diverse networks and custodians, including Layer 1 blockchains, Layer 2 networks, third-party custodians, exchange accounts, traditional bank accounts, securities brokerages, and self-custody solutions. This extensive compatibility ensures that TrustReserve Oracle Services can meet the diverse operational requirements of its clients.
TrustReserve’s Oracle Services handle data discrepancies or inaccuracies from off-chain sources by incorporating advanced cryptographic techniques and employing multiple oracles to verify data authenticity and achieve consensus. By doing so, TrustReserve ensures the accuracy and reliability of the data provided to blockchain networks, mitigating the risk of smart contract failure due to incorrect or manipulated data. Additionally, TrustReserve’s Oracle Services offer granular historical records and visibility to aggregated off-chain data through its Control Panel, further enhancing transparency and trust in the data provided.
Portfolio management, treasury management, remittance services, brokerage solutions, liquidity provisions, algorithmic trading, and collateralized lending to optimize your digital asset operations. These services are designed to enhance visibility, liquidity, automation, and risk management for businesses managing digital assets, ensuring comprehensive support for all financial needs.
Smart Contract Audits involve in-depth analysis, suggestions, and reporting to ensure the security and functionality of smart contracts in blockchain applications.
Smart contract audits are essential to ensure the security and reliability of blockchain applications. Since smart contracts execute automatically and manage valuable assets, any vulnerabilities or bugs can lead to significant financial losses or security breaches. Audits identify and fix potential weaknesses, ensuring that the code operates as intended and is secure from attacks. By conducting thorough audits, businesses can gain trust from stakeholders and mitigate the risk of exploitation in decentralized applications and digital assets.
Smart contract audits are available for a variety of programming languages. These include: Rust, Solidity, Move, Noir, and Cairo.
