Hello NEAR Protocol: DIA Oracles Now Available Natively on NEAR
We are thrilled to announce the integration of DIA’s oracle infrastructure with the layer 1 blockchain network NEAR, enabling developers access to DIA’s trusted oracles.
NEAR is a decentralized development platform that uses a Proof-of-Stake (PoS) consensus mechanism and will eventually feature a sharded architecture to scale transaction throughput. Its block generation scheme is called Doomslug and its proposed sharding design is dubbed Nightshade. These technologies will work together to scale the network and minimize congestion.
NEAR has also been designed to be developer and user-friendly as it features a few key innovations to accelerate the application development and user-onboarding processes. The NEAR blockchain was created and developed by the NEAR Foundation. Its mainnet went live in April 2020, and network validators voted to unlock token transfers in October 2020. NEAR’s bridge to Ethereum (called the Rainbow Bridge) launched in March 2021. The NEAR protocol, besides its decentralised architecture to launch dApps, is also home to NFTs, enabling users to create, mint and sell non-fungible tokens though its Mintbase engine.
Continuing DIA’s expansion of its cross-chain offering, we are excited to announce DIA’s oracle infrastructure is now available on the NEAR Ecosystem, allowing developers to build new decentralised applications. This new product update is set to enable smart contracts on the network to have easy access to accurate and audited price feeds.
Due to its crowd-sourcing approach, the DIA oracle enables dApps to have access to a broad library of digital and traditional assets off the shelf, sourced from multiple on-chain and off-chain sources. Additionally, DIA can generate price feeds of any asset listed on centralised and decentralised exchanges. Moreover, DIA’s oracle platform will offer its granular layer of customizability to build decentralised applications on NEAR, with multiple methodologies for data sanitisation and computation.
DIA (Decentralised Information Asset) is an open-source, financial information platform that utilises crypto-economic incentives to source and validate data. Market actors can supply, share and use financial and digital asset data.