The post DIA Launches Testnet for Lumina, a Modular Oracle Infrastructure appeared on BitcoinEthereumNews.com.

The testnet for DIA’s new modular oracle infrastructure, Lumina, which aims to increase integration flexibility, scalability, and transparency, has been launched. Lumina, which enables data aggregation, verification, and distribution across blockchains, was created to overcome major problems with current oracles. With support for numerous communications protocols, compatibility with non-EVM chains, and extensive data traceability, its architecture sets it apart from other Oracle solutions like Chainlink and API3. According to Zygis Marazas, head of product at DIA, Lumina provides complete visibility into the entire process, whereas previously access to oracle data’s origins and flow was frequently opaque. The complete data journey, from the source to the final price calculation, is clearly visible to users, Marazas added. The goal of this strategy is to increase confidence in the quality and dependability of data. Participation will be restricted on the testnet, which went live today. The mainnet, on the other hand, will function as a completely permissionless network and is expected to be released in Q1 2025. Without DIA’s team being directly involved, additional chains and assets that need Oracle services may plug in in addition to nodes. Manual onboarding procedures are no longer necessary as a result. “You can set up your own oracles if you wish, completely permissionlessly,” Marazas explained. Developers working on specialized blockchain ecosystems and new rollups, where speed and autonomy are crucial, are anticipated to find this capabilities appealing. Aiham Jaabari informed Blockworks that this feature should allow the long tail of assets to enter DeFi. DIA oracles are used by Silo Finance, which Jaabari co-founded. Jaabari said: “Very few oracle providers provide data feeds beyond the blue chips — so that’s why we’re kind of excited about Lumina. Technically speaking, you can actually create an oracle permissionlessly on a [layer-2] for really any token asset.” The architecture of Lumina…

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Filed under: News - @ November 27, 2024 10:23 pm