Chromia Launches Asgard Mainnet Unveiling The Oracle Extension

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As a seasoned researcher with a penchant for blockchain technology and its applications, I find the recent development of Chromia’s Asgard mainnet upgrade particularly intriguing. Having closely followed the evolution of decentralized finance (DeFi) and artificial intelligence (AI) on various blockchains, it’s refreshing to see a platform like Chromia making significant strides in these areas.

As a crypto investor, I’m thrilled about the mainnet launch because it brings in novel Specialized Extensions designed to boost the creation of cutting-edge applications in Decentralized Finance (DeFi) and Artificial Intelligence (AI). This means smarter, more decentralized apps on our blockchain!

Chromia, a platform that merges blockchain technology with relational databases, has unveiled the commencement of its Asgard mainnet overhaul. This mainnet launch marks the first significant technical modification for the blockchain, incorporating fresh features intended to amplify its functionalities.

On Asgard’s mainnet, we find two specialized additions – Oracle Extension and AI Inference Extension – designed to foster the expansion of decentralized finance and AI applications within the Chromia Network. These extensions function as a modular system, enhancing Chromia’s blockchain with specific capabilities. Furthermore, they offer customization options for decentralized apps, while also reinforcing the platform’s key characteristics, such as its relational data structure, modular network design, and gas-free economic model beneficial to end-users.

Asgard Mainnet Introduces Oracle Extension

The Oracle Extension debuted after Asgard’s reveal, and it serves as a connection between off-chain and on-chain ecosystems. It offers real-time data streams to the platform’s DApps, which are updated with every block, ensuring swift, near instant updates. This consistent data flow guarantees that Chromia DApps can function accurately and dependably.

Furthermore, this Extension facilitates the construction of sophisticated Decentralized Finance (DeFi) projects, including decentralized trading platforms, futures and options markets, and loan systems. These systems rely on accurate pricing information to execute trades efficiently and manage collateral securely.

Ludvig Öberg, VP of the Chromia Platform Unit, stated that the Oracle Extension will pave the way for increased decentralized finance actions on the Chromia network and a rise in network worth.

The Oracle Extension is a key component of Chromia’s strategy for linking with various cryptocurrency and blockchain platforms. It contributes to the ongoing efforts to link CHR and the Chromia Network with specific centralized exchanges (CEXs) and cross-chain wallets. This connection seeks to make Chromia more user-friendly and interconnected, thereby boosting user engagement and the total value locked (TVL) within the network.

AI Inference Extension Set To Launch Q1 2025

The team announcement also verified the initiation of the second part of the Chromia Extensions riddle – the AI Inference Extension. This component, planned for release in Q1 2025, serves as a module that empowers developers to run AI models directly on the blockchain using Chromia’s decentralized service providers network. The newly established Data and AI Division within the project aims to develop tools that increase transparency in AI training data and inputs.

Jie Yeou, who serves as the Head of Business Development at Chromia, elaborated on the advantages and groundbreaking advancements that will be introduced with the Extension’s release, emphasizing:

Chromia, being the globe’s unique blockchain focused on relationships, has shown its potential in fostering transparency for AI and heavy data applications. The AI Inference Extension aims to build upon this, allowing for the execution of AI models directly on the blockchain.

After the recent Asgard update, the public has access to a showcase of the Oracle Extension. It’s worth noting that this Extension isn’t limited to the demonstration; it will also be incorporated into numerous Decentralized Applications (DApps). The team anticipates that the Oracle will provide support for a variety of DApps beyond DeFi, such as AI applications, gaming platforms, and enterprise solutions.

To summarize, the team has shared their intention of further integrating blockchain technologies with practical issues, particularly focusing on improving data accessibility and developing zero-knowledge solutions, which are set to be rolled out in upcoming updates.

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2024-12-03 17:03