The DIA Association has announced the integration of its Oracle infrastructure with the NEAR Protocol, a layer 1 distributed ledger. This deployment is intended to enable the development of new decentralized applications with easy access to DIA’s accurate and transparent data.
The NEAR Protocol, which has been operational on the mainnet since April 2020, is a blockchain network created and developed by the NEAR Foundation that employs a proof-of-stake consensus mechanism. The NEAR ecosystem includes several verticals such as DeFi, with dApps like Maker, Utility/Infrastructure, with tools like The Graph, and games like Near Lands. NFTs are also supported by the NEAR protocol, which allows users to create, mint, and sell non-fungible tokens via its engine Mintbase.
A number of new efficiency-driven chains have emerged in the blockchain ecosystem, aiming to solve the scalability issue that ledgers like Ethereum are experiencing due to increasing block sizes and the number of daily transactions. DIA has announced integrations of its data provision with many of these new networks in recent weeks, including chains such as Moonriver, Arbitrum, Celo, Shiden, and many others.
When compared to other Oracle suppliers, DIA takes a unique approach to data sourcing. Other oracle platforms aggregate a variety of premium data suppliers, whereas the open-source oracle platform collects data at the individual trade level directly from centralized exchange APIs and on-chain from decentralized exchanges. This enables DIA to make data sources fully transparent and adaptable to specific use cases. It also gives you the freedom to source data for any asset, regardless of its trading volume or premium data provider coverage.