🔮 Oracles are now available on mainnet!
DIA Association oracles will allow dapps builders to do all sorts of things that weren't possible before...
Why is it a big deal and why are they key for a chain like Alephium?
Let's dive in! 👇
🛠 Let's listen to our builders first!
Linx Labs said "Oracles turn DeFi smart contracts from isolated computers into informed financial agents. They're the bridge between blockchain and reality."
And AlphBanX added "An oracle is important for Alphbanx, because it serves as a reliable source of external data, especially for price feeds. Our contracts require real-time data like the current price of cryptocurrencies, exchange rates, or interest rates, to function correctly e.g manage collateral ratios, liquidations and more."
❓ What is an oracle?
Oracles are like bridges for smart contracts, they bring real-world data (like token prices) to the chain.
They allow smart contracts to make decisions based on events happening off-chain.
Without them, smart contracts wouldn't have access to outside data.
👁️ That's where DIA Association comes in...
It has now integrated its oracle infrastructure into Alephium.
Two main kinds of oracles are now available to builders of dApps & services (on group 0).
And these will allow them to do things that were previously hard or impossible...
💱 Price feed oracles
These provide real-time asset prices, absolutely key for DeFi!
DIA’s xMarket product delivers accurate and reliable real-time price data for tokens like ALPH, USDT, wBTC, and ETH.
For example, a lending market needs those to calculate liquidations.
🎲 Randomness oracles
These generate true randomness, which is essential for fair games, lotteries, and all things GameFi.
DIA's xRandom product offers verifiable, distributed randomness, ensuring trustless and unbiased outcomes in applications where it matters most.
🔗 Why is this important?
Builders will be able to leverage oracles to do cool things from parametric insurance to synthetic assets, prediction markets or dynamic NFTs reacting to real-world events, provably fair gaming, smart grid utilities, voting systems...
...anything goes!
🎙️ Join us for a X Space!
Join us next Wednesday as we dive into the thriving Alephium ecosystem for a conversation about what oracles will unleash!
AlphBanX and Linx Labs will join Maud Bannwart & Cheng Wang for a X space DIA Association
https://lnkd.in/eRyHFtzM