The post Chromia Launches Asgard Mainnet Unveiling The Oracle Extension appeared on BitcoinEthereumNews.com.

The mainnet launch also introduces new specialized Extensions to enhance the development of decentralized finance (DeFi) and artificial intelligence (AI) apps on the blockchain.  Chromia, ta Layer 1 platform that combines blockchain with relational databases, has announced the launch of the Asgard mainnet upgrade. The mainnet is the first major technical update for the blockchain, introducing new features designed to enhance the capabilities of the blockchain.  The Asgard mainnet also introduces specialized Extensions – Oracle Extension and AI Inference Extension – to support the growth of decentralized finance and AI-enabled applications on the Chromia Network. These Extensions are a modular system that adds specialized capabilities to Chromia’s relational blockchain. In addition, they provide customization to decentralized applications and complement the platform’s core features,  including its relational data architecture, modular network design, and gas-free economic model for end users. Asgard Mainnet Introduces Oracle Extension The first Extension launched, following Asgard’s unveiling, is the Oracle Extension. This Extension will bridge the gap between off-chain and on-chain environments, providing real-time data feeds to DApps on the platform. These data feeds are updated with each block, meaning fast, sub-second updates. This continuous data flow ensures that Chromia DApps can operate with accuracy and reliability. In addition, the Extension supports the development of complex DeFi applications such as decentralized exchanges, futures and options platforms, and lending protocols. These protocols receive critical price data, ensuring precise trade execution and secure collateral management.  “The Oracle Extension lays the groundwork for an expansion of decentralized finance activity on the Chromia network and the growth of network value,” said Ludvig Öberg, VP of the Chromia Platform Unit.  The Oracle Extension is part of Chromia’s plan to interconnect with the broader crypto and blockchain ecosystems. It adds to the recent developments in integrating  CHR and the Chromia Network with select…

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Filed under: News - @ December 4, 2024 6:23 am