Sonic pioneers wallet credit scores with no KYC requirements amid reaching 720ms finality
Sonic Labs plans to introduce credit scores for digital wallets to access the global unsecured lending market exceeding $11 trillion. CTO Andre Cronje highlighted that integrating credit scores represents a significant advancement in blockchain technology, enabling traditional loan products in decentralized finance (DeFi). Sonic has addressed technological challenges, developing a system that processes over 54 billion transactions and monitors 500 million wallets without requiring KYC or personal data. This system allows direct on-chain access to wallet scores. Additionally, Sonic's testnet achieved transaction finality in 720 milliseconds, marking it as the fastest blockchain network in this regard, surpassing Aptos. This finality ensures irreversible transaction confirmation, enhancing the platform's reliability.
