Friday, January 27, 2023
The Crypto Traders Hub
No Result
View All Result
  • Home
  • News
    • Tech
    • Policy & Regulation
    • Market
    • Bitcoin
    • Ethereum
    • Ripple
    • Altcoins
  • 101 Guides
    • Coin Overviews
    • Altcoin Tradings
  • Review
    • Exchange
    • Wallet
    • Brokers
    • Crypto Trading bots
  • Videos
  • Podcast
No Result
View All Result
The Crypto Traders Hub
No Result
View All Result
Home Crypto Tech

Cred Protocol unveils its first decentralized credit scores

The Crypto Traders Hub Team by The Crypto Traders Hub Team
July 15, 2022
in Crypto Tech
0
Cred Protocol unveils its first decentralized credit scores
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Cred Protocol, a decentralized credit score scoring startup has unveiled the outcomes of its first automated credit score scoring system for customers of decentralized finance (DeFi).

Cred Protocol CEO Julian Gay outlined the results in a Twitter thread, which showed how Cred successfully utilized past transaction behavior on the Aave protocol to assess the creditworthiness of future borrowers based on on-chain behavior in the DeFi space.

1/ Over the last few months, we’ve been working to build one of the first credit scores for DeFi.

Today, we’re excited to share the results of our first credit score with the world!

Read more below

— Julian Gay (@juliangay) July 14, 2022

By utilizing machine studying to evaluate time-based account attributes and analyze the person’s previous transaction conduct, Cred Protocol generates a well being issue rating that predicts the probability of future liquidation for a single tackle, which, in line with Homosexual, was one of many strongest baseline creditworthiness predictors.

Julian Homosexual Twitter Publish 

Cred Protocol claims to make decentralized finance extra accessible to the world by implementing reliable credit score scores that may see “anybody with an web connection” and “a great monetary popularity” achieve entry to loans.

The place debtors and lenders have their mortgage worthiness assessed by a government similar to a credit score bureau, DeFi makes it attainable to run monetary companies with a peer-to-peer (P2P) system, eliminating the concept of an middleman or central authority.

Distinguished DeFi researcher Chris Blec raised issues {that a} borrower may use multiple Ethereum addresses to skirt credit score scoring — to which Homosexual responded {that a} potential resolution was in Beta.

So it is only a credit score rating for that 1 Ethereum tackle? What if somebody makes use of 10 totally different addresses?

— Chris Blec (@ChrisBlec) July 15, 2022

Cred Protocol is a small nine-person group primarily based out of San Francisco with further “hubs” in New York and London. Nonetheless, Homosexual says that he goals to carry DeFi know-how to a couple of billion individuals.

In a Medium publish, Cred outlined its plans to develop from the Aave protocol and develop its information evaluation to different lending protocols like Compound and MakerDAO.

Two years in the past, blockchain lending protocol Teller raised $1 million in a seed funding spherical to include traditional credit scores into DeFi.

Associated: Decentralized credit scores: How can blockchain tech change ratings

In November 2021, Credit score DeFi Alliance (CreDA) formally launched a credit standing service that may verify a person’s creditworthiness with information from a number of blockchains. CreDA was developed to work utilizing the CreDA Oracle by evaluating information of previous transactions carried out by the person throughout a number of blockchains with the assistance of synthetic intelligence (AI).

Not too long ago, P2P lending protocol RociFi labs concluded a seed funding of $2.7 million in partnership with asset administration agency GoldenTree, which is aimed towards increasing on-chain credit score rankings for decentralized finance.



Source link

Related articles

Alex Tapscott’s ‘Digital Asset Revolution’

Alex Tapscott’s ‘Digital Asset Revolution’

July 15, 2022
Ethereum devs confirm the perpetual date for The Merge

Ethereum devs confirm the perpetual date for The Merge

July 15, 2022
Share76Tweet48

Related Posts

Alex Tapscott’s ‘Digital Asset Revolution’

Alex Tapscott’s ‘Digital Asset Revolution’

by The Crypto Traders Hub Team
July 15, 2022
0

Decentralized finance (DeFi) has large potential to remodel conventional monetary providers. Knowledge from Emergen Analysis not too long ago found that...

Ethereum devs confirm the perpetual date for The Merge

Ethereum devs confirm the perpetual date for The Merge

by The Crypto Traders Hub Team
July 15, 2022
0

Ethereum community is nearing the merger section of its essential transition from proof-of-work (PoW) mining consensus to proof-of-stake (PoS)....

Celo network back online after almost 24-hour outage

Celo network back online after almost 24-hour outage

by The Crypto Traders Hub Team
July 15, 2022
0

Proof-of-stake-based blockchain Celo has been affected by an on-and-off community outage lasting 24 hours, although the blockchain seems to...

BnkToTheFuture unveils 3 proposals to rescue Celsius from oblivion

OpenSea lays off 20% of its staff, citing ‘crypto winter’

by The Crypto Traders Hub Team
July 14, 2022
0

The bear market in Bitcoin and altcoins has had a adverse impression on staffing ranges at main crypto corporations,...

Data transfer network Plaid integrates 4 major crypto exchanges

Data transfer network Plaid integrates 4 major crypto exchanges

by The Crypto Traders Hub Team
July 14, 2022
0

United States information switch community Plaid has added 4 main cryptocurrency exchanges to its platform, giving customers the flexibility...

Load More

  • Trending
  • Comments
  • Latest
Bitcoin stabilizes after falling below US$40K amid China regulation concerns – National

Bitcoin stabilizes after falling below US$40K amid China regulation concerns – National

June 3, 2021
What’s going on with ethereum? Cryptoccurency’s meteoric price rise is oupacing bitcoin’s 3-to-1 in 2021

What’s going on with ethereum? Cryptoccurency’s meteoric price rise is oupacing bitcoin’s 3-to-1 in 2021

April 30, 2021
2021 Botsfolio Review • Pros, Cons + More • Benzinga

2021 Botsfolio Review • Pros, Cons + More • Benzinga

April 28, 2021
Orbit CEO Monk’s Journey in the Trading World

Orbit CEO Monk’s Journey in the Trading World

March 17, 2022
We’re All Crypto People Now

We’re All Crypto People Now

0
Bitcoin news LIVE – Cryptocurrency plunges below $50,000 over Biden ‘tax raid’ fears as Safemoon and Dogecoin also hit

Bitcoin news LIVE – Cryptocurrency plunges below $50,000 over Biden ‘tax raid’ fears as Safemoon and Dogecoin also hit

0
How to Transfer Bitcoin from Paypal [1 8084009529] How to Transfer Bitcoin from Paypal

How to Transfer Bitcoin from Paypal [1 8084009529] How to Transfer Bitcoin from Paypal

0
Ethereum Co-Founder Donates Rs. 4.5 Crores For COVID-19 Relief in India

Ethereum Co-Founder Donates Rs. 4.5 Crores For COVID-19 Relief in India

0
Robot. Trade LLC Offers a 30-day Free Trial to Develop a Best Crypto Trading Bot

Robot. Trade LLC Offers a 30-day Free Trial to Develop a Best Crypto Trading Bot

October 8, 2022
After 2 Years of Debate, Europe Finalizes Landmark Crypto Rules

After 2 Years of Debate, Europe Finalizes Landmark Crypto Rules

October 8, 2022
EDX exchange is Wall Street’s latest venture into crypto

EDX exchange is Wall Street’s latest venture into crypto

October 8, 2022
Brazillian Police Raid ‘Bitcoin Sheikh’ for Defrauding Victims of $766M: Report

Brazillian Police Raid ‘Bitcoin Sheikh’ for Defrauding Victims of $766M: Report

October 8, 2022

Recent News

Robot. Trade LLC Offers a 30-day Free Trial to Develop a Best Crypto Trading Bot

Robot. Trade LLC Offers a 30-day Free Trial to Develop a Best Crypto Trading Bot

October 8, 2022
After 2 Years of Debate, Europe Finalizes Landmark Crypto Rules

After 2 Years of Debate, Europe Finalizes Landmark Crypto Rules

October 8, 2022
EDX exchange is Wall Street’s latest venture into crypto

EDX exchange is Wall Street’s latest venture into crypto

October 8, 2022

Categories

  • Altcoin Tradings
  • Altcoins
  • Bitcoin
  • Brokers
  • Coin Overviews
  • Crypto Tech
  • Crypto Trading bot
  • Cryptocurrency Exchange
  • Ethereum
  • Market
  • Podcast
  • Policy & Regulation
  • Ripple
  • Uncategorized
  • Videos

Crypto/Bitcoin Currency Converter

Cryptocurrency Prices by Coinlib

Contact Us

  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Copyright The Crypto Traders Hub

No Result
View All Result
  • Home
  • News
    • Tech
    • Policy & Regulation
    • Market
    • Bitcoin
    • Ethereum
    • Ripple
    • Altcoins
  • 101 Guides
    • Coin Overviews
    • Altcoin Tradings
  • Review
    • Exchange
    • Wallet
    • Brokers
    • Crypto Trading bots
  • Videos
  • Podcast

© 2021 Copyright The Crypto Traders Hub