Tuesday, July 1, 2025
No Result
View All Result
Coin Digest Daily
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
No Result
View All Result
Coin Digest Daily
No Result
View All Result

Sonic pioneers wallet credit scores with no KYC requirements amid reaching 720ms finality

9 September 2024
in Web3
Reading Time: 2 mins read
0 0
A A
0
Home Web3
Share on FacebookShare on Twitter



Andre Cronje, the CTO of Sonic Labs (previously Fantom), revealed plans for Sonic blockchain to introduce credit score scores for digital wallets, in response to a Sept. 9 weblog publish.

The purpose is to faucet into the worldwide unsecured lending market, which exceeds $11 trillion.

Credit score scores

Cronje defined that credit score rating integration is a key development in blockchain expertise. He acknowledged that it might allow varied conventional mortgage merchandise, resembling private and payday loans, to enter DeFi.

Cronje emphasised that Sonic has overcome a number of technological hurdles, making credit score scores possible inside blockchain programs. He acknowledged:

“Credit score scores are pretty easy of their design, its a wealthy ETL (extract, rework, mortgage) course of that sanitizes monetary information and offers a element evaluation in the end summarized right into a credit score rating.”

Sonic Labs reportedly began constructing this method in 2021, specializing in extracting, reworking, and loading transaction, mortgage, and commerce information throughout a number of blockchains. This effort processed over 54 billion transactions, overlaying almost a petabyte of information and monitoring 500 million wallets, together with 15 million loans.

The lab has developed a scoring mannequin for blockchain addresses with out requiring KYC or private information.

Contemplating this, Cronje acknowledged that Sonic could be the primary to supply direct on-chain entry to pockets scores, unlocking the $11 trillion market. He acknowledged:

“Sonic would be the first native integration, permitting direct on-chain entry to pockets scoring, making it the primary chain that permits devs entry to a possible $11 trillion market. A key shift in each technological and social evolution.”

Blockchain finality

The credit score rating transfer comes as Sonic’s testnet achieved transaction finality in simply 720 milliseconds (ms), making a major development.

On Sept. 8, Cronje revealed this milestone on X, stating:

“400ms responsiveness (excellent for synchronous occasions) 720ms finality (true, not probabilistic – no ‘please wait 30 blocks’).”

In blockchain, finality ensures that after a transaction is confirmed and added to the blockchain, it turns into irreversible. No additional modifications might be made after a transaction achieves finality.

This breakthrough positions Sonic because the quickest blockchain community when it comes to transaction finality, surpassing Aptos, which has a 900ms finality, in response to Chainspect information.

Talked about on this article

Newest Alpha Market Report



Source link

Tags: 720mscreditfinalityKYCPioneersReachingRequirementsScoresSonicWallet
Previous Post

Ignoring The Bounty, Penpie Hacker Launders $27 Million In Ether – What’s The Endgame?

Next Post

This Election Season Full of Deepfakes, Doubts and Disinformation Should Motivate You to Do Your Own Research — Here’s How to Uncover the Truth | Entrepreneur

Related Posts

Feds Charge Man With $1.7M Scheme to Convert Fake Checks Into Bitcoin – Decrypt
Web3

Feds Charge Man With $1.7M Scheme to Convert Fake Checks Into Bitcoin – Decrypt

1 July 2025
Metaplanet Adds $104M in BTC, Testing Limits of Bitcoin Treasury Plan – Decrypt
Web3

Metaplanet Adds $104M in BTC, Testing Limits of Bitcoin Treasury Plan – Decrypt

30 June 2025
Can China’s MiniMax-M1 AI Topple US Rivals? We Put It to the Test – Decrypt
Web3

Can China’s MiniMax-M1 AI Topple US Rivals? We Put It to the Test – Decrypt

29 June 2025
Trump Blames Biden for Banks Blocking Crypto: ‘There Is a Lot of Debanking’ – Decrypt
Web3

Trump Blames Biden for Banks Blocking Crypto: ‘There Is a Lot of Debanking’ – Decrypt

28 June 2025
Bitcoin ETFs Notch 13 Consecutive Days of Inflow—Why It Matters – Decrypt
Web3

Bitcoin ETFs Notch 13 Consecutive Days of Inflow—Why It Matters – Decrypt

27 June 2025
Meta and OpenAI Use of Copyrighted Books for Training AI Was Fair Use: Federal Judge – Decrypt
Web3

Meta and OpenAI Use of Copyrighted Books for Training AI Was Fair Use: Federal Judge – Decrypt

26 June 2025
Next Post
This Election Season Full of Deepfakes, Doubts and Disinformation Should Motivate You to Do Your Own Research — Here’s How to Uncover the Truth | Entrepreneur

This Election Season Full of Deepfakes, Doubts and Disinformation Should Motivate You to Do Your Own Research — Here's How to Uncover the Truth | Entrepreneur

Ethereum, Uniswap and Mpeppe: Top Analyst Explains Mpeppe Uniswap Launch and Investors 1100% Expectations

Ethereum, Uniswap and Mpeppe: Top Analyst Explains Mpeppe Uniswap Launch and Investors 1100% Expectations

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Ethereum Reclaims $2,500 In Squeeze-Driven Rally – But Can It Hold?

Ethereum Reclaims $2,500 In Squeeze-Driven Rally – But Can It Hold?

28 June 2025
솔라나 레이어 2 코인 솔락시, 유니스왑 상장 출시… 지금 구매할 만한 유망 코인일까? | Bitcoinist.com

솔라나 레이어 2 코인 솔락시, 유니스왑 상장 출시… 지금 구매할 만한 유망 코인일까? | Bitcoinist.com

24 June 2025
$304M Raised, 20 Listings Locked – BlockDAG’s Plan Is Set, TAO and Pi Downtrend

$304M Raised, 20 Listings Locked – BlockDAG’s Plan Is Set, TAO and Pi Downtrend

16 June 2025
Why is Crypto Crashing? Dust Settles Over SOL and ETH After Musk Storm

Why is Crypto Crashing? Dust Settles Over SOL and ETH After Musk Storm

7 June 2025
Ethereum Price To Resume Downtrend? Market Expert Identifies Bearish Chart Setup | Bitcoinist.com

Ethereum Price To Resume Downtrend? Market Expert Identifies Bearish Chart Setup | Bitcoinist.com

23 June 2025
Altcoin Exchange Flows Dip Below $1.6B – History Points To Incoming Rally | Bitcoinist.com

Altcoin Exchange Flows Dip Below $1.6B – History Points To Incoming Rally | Bitcoinist.com

28 June 2025
The Blockchain Group Confirms Acquisition of 60 BTC, Total Holdings Reach 1,788 BTC – News Bytes Bitcoin News

The Blockchain Group Confirms Acquisition of 60 BTC, Total Holdings Reach 1,788 BTC – News Bytes Bitcoin News

1 July 2025
Robinhood Kickstarts US Stocks in Europe with Crypto: Will On-Chain Adoption Skyrocket?

Robinhood Kickstarts US Stocks in Europe with Crypto: Will On-Chain Adoption Skyrocket?

1 July 2025
Penis envy? 35-foot appendage at UK heritage site was almost covered up

Penis envy? 35-foot appendage at UK heritage site was almost covered up

1 July 2025
Feds Charge Man With $1.7M Scheme to Convert Fake Checks Into Bitcoin – Decrypt

Feds Charge Man With $1.7M Scheme to Convert Fake Checks Into Bitcoin – Decrypt

1 July 2025
Circle Proposed to Launch Federally Regulated Trust Bank

Circle Proposed to Launch Federally Regulated Trust Bank

1 July 2025
Supreme Court Rejects Crypto Privacy Case Against IRS

Supreme Court Rejects Crypto Privacy Case Against IRS

1 July 2025
Facebook Twitter Instagram Youtube RSS
Coin Digest Daily

Stay ahead in the world of cryptocurrencies with Coin Digest Daily. Your daily dose of insightful news, market trends, and expert analyses. Empowering you to make informed decisions in the ever-evolving blockchain space.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Web3

SITEMAP

  • About us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$106,483.00-1.13%
  • ethereumEthereum(ETH)$2,443.70-0.77%
  • tetherTether(USDT)$1.000.01%
  • rippleXRP(XRP)$2.200.75%
  • binancecoinBNB(BNB)$652.19-0.27%
  • solanaSolana(SOL)$148.34-1.25%
  • usd-coinUSDC(USDC)$1.000.00%
  • tronTRON(TRX)$0.2783140.32%
  • dogecoinDogecoin(DOGE)$0.160296-2.66%
  • staked-etherLido Staked Ether(STETH)$2,442.36-0.74%