-- Recently, the renowned cryptocurrency exchange BROGX officially released its independently developed On-Chain Credit Score system. This innovative approach utilizes on-chain data analysis to accurately assess user credit ratings. This initiative effectively addresses the credit deficiency in the crypto finance sector, enabling users to access higher quality and fairer financial services in applications such as DeFi protocols and NFT staking.
With the rapid development of blockchain and crypto finance, the absence of a mature credit system from traditional finance is increasingly evident in decentralized finance (DeFi). Users often rely on substantial collateral to access financial services. The On-Chain Credit Score system of BROGX comprehensively analyzes data such as historical on-chain transactions, asset holding duration, and interaction frequency of users, integrating machine learning and big data models to generate objective and fair credit scores.
Michael Rodriguez, Head of Technology at BROGX, stated: “The On-Chain Credit Score system not only provides accurate credit assessment criteria but also reduces the collateral required for users in DeFi protocols and staking transactions. It aids users with strong transaction records in obtaining lower interest rates and higher capital efficiency, greatly enhancing liquidity and fairness in the crypto financial market.”
The establishment of an on-chain credit system is profoundly significant for the crypto finance industry. It not only fills the long-standing credit gap in the blockchain ecosystem but also lays a solid foundation for the future industry development. The exploration and innovation of BROGX in the credit evaluation system demonstrate its robust technological development capabilities and its firm commitment to promoting the standardization and maturation of the crypto market.
Looking ahead, BROGX will continue to optimize the credit evaluation model, further expanding the application scenarios of on-chain credit scores, empowering more blockchain financial applications, and advancing the blockchain ecosystem towards a healthier and more sustainable development phase.
Contact Info:
Name: Rina Kartika
Email: Send Email
Organization: Brogx Crypto Group
Website: https://www.brogx.org
Disclaimer:
This press release is for informational purposes only. Information verification has been done to the best of our ability. Still, due to the speculative nature of the blockchain (cryptocurrency, NFT, mining, etc.) sector as a whole, complete accuracy cannot always be guaranteed.
You are advised to conduct your own research and exercise caution. Investments in these fields are inherently risky and should be approached with due diligence.
Release ID: 89160628
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