The Alephium Layer 1 blockchain reaches a major milestone in its development by integrating DIA oracles. This collaboration marks a significant step forward for the Alephium ecosystem, paving the way for the creation of a new era of decentralized applications on this Proof of Work blockchain.
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Alephium blockchain welcomes DIA oracles
Being the first blockchain that combines the advantages of PoW (Proof of Work) and UTXO (Unspent Transaction Output) models, in addition to being fully compatible with smart contracts, Alephium offers a robust platform for developing decentralized applications (dApps).
💡 Read our detailed presentation of Alephium: a blockchain at the crossroads of Bitcoin and Ethereum
It is precisely with the aim of offering an ideal environment for decentralized finance (DeFi) that Alephium has just integrated DIA's blockchain oracles.
Alephium's collaboration with DIA introduces 2 types of oracles on the blockchain: price oracles and randomization oracles. These tools are essential for the development of DeFi applications on the platform, allowing smart contracts to access reliable and real-time external data.
We are extremely excited to welcome DIA as the first oracle on the Alephium mainnet. Offering a valuable public good in the form of a feature-rich oracle will be invaluable to projects in the ecosystem and will enable the creation of powerful dApps. We look forward to seeing the creativity and use cases of our builders who will be able to use these oracles for free, whether they are public or custom oracles!
Price Oracles provide accurate price information for many cryptocurrenciessuch as ALPH, USDT, wBTC, ETH, USDC and AYIN, directly on the Alephium blockchain.
This feature is crucial for applications like lending/borrowing protocols, where accurate data is needed to calculate liquidations.
DIA’s price oracle uses a calculation method called Moving Average Price with Interquartile Range (MAIR) to ensure fair and up-to-date prices. In the event of a significant variation, greater than 0.5%, the price is updated on the blockchain, ensuring optimal responsiveness.
Randomization Oracleson the other hand, offer true verifiable randomizationessential for video games, lotteries and other applications requiring complete impartiality.
Using DIA xRandom technology, these oracles provide distributed and auditable random numbers, thereby increasing confidence in the results of the applications concerned.
A major impact for DeFi on Alephium
With this integration, Alephium solidifies its position as the PoW blockchain with smart contracts with the highest TVL (total value locked) and paves the way for the next wave of innovation in the DeFi (decentralized finance) space. Several projects using DIA's oracle, including AlphBanX And Linx Labsare already preparing to be launched.
Using DIA oracles, Decentralized application developers will now be able to create more sophisticated productsranging from parametric insurance to synthetic assets, including prediction markets and dynamic NFTs.
Oracles enable new use cases where real-world data interacts directly with smart contracts, providing more functionality and increased flexibility.
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, such as the current price of cryptocurrencies, exchange rates or interest rates, to function properly, for example to manage collateral ratios, liquidations and more.
Finally, Alephium, with its unique PoW/UTXO model, brings an additional security dimension to DeFi.Unlike other blockchains, Alephium combines the proven security of the UTXO model with the benefits of smart contracts, providing a secure and scalable environment for developing decentralized applications.
The integration of DIA oracles on Alephium therefore represents a significant leap forward for this blockchain.opening new perspectives for developers looking for advanced tools, but also for users looking for innovative protocols.
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As the Publishing Director of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have accumulated a vast knowledge of Web3 and I strive to share high-quality content to democratize this sector to the general public. Thanks to a dedicated and passionate team, Cryptoast has become an essential reference, providing in-depth analyses and relevant information for all enthusiasts and curious people in the world of cryptocurrencies and Web3.
Clement Wardzala
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