Fuse and DIA Team Up to Introduce Oracles to the Ecosystem

According to a press note, the deployment of DIA’s Oracles infrastructure is complete with the Fuse Network blockchain. 

The open-access database of the integrated blockchain allows users to exchange information without the intervention of a centralized network. This sets the path for creating ground-breaking products and can lead to a larger emergence of decentralized financial services. 

If blockchains need to survive, they must find relevancy with other major commercial applications. Blockchains need to evolve an intense computation framework for precise data verification so that they can be used in centralized finance. Hence, the need for resilient Oracles. 

The smart contracts on blockchain technology depend on the accurate working of the Oracles processes to ensure trustworthy data dissemination. The decentralized information asset framework of DIA is a flagship player in the crypto space that offers high-quality data reporting on product prices.  

DIA is an open-source Oracle platform that is entirely community-governed for end-to-end data dissemination for Web3. It is the standard framework that is used for data sourcing on asset prices for Ethereum, Solana, BSC, and Phantom. 

Data reporting is uniquely done through DIA and has the potential to dispute the price data on other nodes. This is done through data acquisition from varied decentralized exchanges for carrying out smart contracts using price feeds. 

The innovative data processing approach of the DIA has led to the mitigation of price reporting risk in the crypto ecosystem. The absence of a verified attack on security protocols is evidence that DIA has been largely successful in lowering price manipulation risk and safeguarding the asset price computation on multiple exchanges. 

The future will see the creation of customized lending networks that comprehensively simplify the price calculations of the main project assets and also have the ability to solve the liquidity problem in present-day speculation markets. The price feeds can be structurally strengthened by the DIA by the presence of multi-varied Oracles services on the Fuse Network. 

The Fuse Network blockchain currently deploys the DIA decentralized oracle system. The addition of oracles to Fuse is a significant step forward in the platform’s continuous development and evolution since oracles are essential for the platform’s further development of DeFi on the platform.

The decentralized lending network on Voltage Finance, built in cooperation with Ola Finance, will be the first product to benefit from DIA’s oracle technology. Ola will utilise DIA to get accurate pricing feeds for Voltage’s lending markets assets. More assets will be added to the Voltage network as a result of this.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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