DIA Announces Yet Another Integration. This Time on Solana
November 09 2021 - 8:00AM
NEWSBTC
The open-source oracle provider DIA announced that it is
integrating its oracle services with the layer 1 blockchain Solana.
This deployment enables developers on the network to leverage DIA’s
data to build new decentralized applications. Solana went live with
its beta network in March 2020, yet it has already positioned
itself as one of the leading blockchain networks, as of today
locking a total value of approximately 15 billion USD. Solana
already supports a large number of DeFi solutions, including
decentralized applications and smart contracts, as well as
non-fungibles tokens. Solana uses a consensus mechanism that
combines proof-of-history (PoH) with proof-of-stake (PoS), enabling
the network to process more than 50,000 transactions per second. In
comparison, the Ethereum network can only handle 13 transactions
per second. Solana was designed to achieve high network operability
with low transaction costs with its combined consensus algorithms
of Proof of Stake and Proof of History. This tech stack is set to
overcome the scalability issues of networks such as Etheruem, which
depend on a volatile network fee for its block confirmation
mechanism. DIA has been heavily broadening the availability of its
data infrastructure. In recent weeks, DIA has deployed its oracle
on a number of ledgers, including Polygon, Polkadot, BSC, Moonbeam,
Arbitrum, Celo, Avalanche, NEAR, Shiden and many others. The vast
majority of decentralized applications including those on Solana
require data external to the blockchain to operate. These
applications are dependent on the right calculation of price points
in order to avoid being exposed to data manipulation and
exploitation such as flash loan attacks, potentially resulting in
investor losses. To overcome this dilemma, DIA has a unique
approach to data sourcing compared to other oracle services. The
open-source oracle platform collects data at the individual trade
level directly from centralized exchange APIs and on-chain from
decentralized exchanges, whereas other oracle platforms aggregate a
range of premium data suppliers.
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