DIA — Open Source Oracles for Web3
DIA
Learn about multi-chain, open-source oracles connecting web3 with a variety of arbitrary off-chain and on-chain data.
Overview
DIA is a multi-chain, end-to-end, open-source data and oracle platform for Web3 that can provide data from various on-chain and off-chain sources.
DIA stands for Decentralised Information Asset. It secures markets and smart contracts across Web3. DIA tells smart contracts “things about the world” so they can enforce real-world events/outcomes. It fetches data from a broad spectrum of open-source data points, including Centralized & Decentralized markets.
Need for Oracles
Blockchain interoperability refers to the ability of disparate ecosystems to seamlessly exchange data and transfer relevant information between each other without any centralized entity/intermediary. Achieving interoperability is of paramount importance as dependence on legacy architecture or business models of the Web 2 era is inefficient, costly, and risky, especially for enterprises utilizing blockchain technology with the hope of expanding and delivering smooth and efficient services to clients. Oracles are a crucial part of blockchain infrastructure. They enable smooth communication between the external world and on-chain environments in a trustless manner.
Financial smart contracts need real-world data to trigger execution, and oracles make this possible. Oracles are third-party services that provide blockchain smart contracts access to off-chain data, bridging the existing information gap.
Blockchain smart contracts aren’t equipped to access off-chain data making them dependent on oracles for trustless execution. While oracles exist to bring reliable and secure off-chain data to blockchain platforms, they have certain drawbacks, including centralization and the risk of manipulation.
Features
DIA is an open-source ecosystem aimed at bringing transparency, accuracy, and validity to the data accessible for Web3. Various vital features of DAI include -
Open Source & Transparent
DIA’s code base, sources, and methodologies are open-source and publicly available.
Multi-Chain Delivery
DIA oracles have differentiated structures to operate on multiple blockchains, including L1s and L2s. DIA provides a selected range of asset prices for live testing on respective Mainnet and Testnets of different blockchains through smart contracts called Development Oracle contracts.
Diverse & Customized Data Feed
DIA data feeds are varied and come from a wide array of on-chain & off-chain sources that include Decentralized and Centralized sources, including DEXes, CEXes, DeFi, NFT marketplaces, etc. The data is delivered through oracle feeds and API endpoints and can be used on all available networks by any application.
DIA can provide tailored data feeds that can be customized concerning the sources and the methodologies.
NFT Oracle Support
NFT oracles contain information about NFT collections’ floor prices. DIA collects live trading data on the blockchain for all NFT transactions on the integrated blockchains. Data is sourced directly from the origin and allows precise market data.
DIA DAO
DIA launched in 2018 with a long-term mission of being a decentralized organization and self-organize DIA’s diverse skilled workforce. DIA DAO is a formal framework to enable the community to support the growth and development of DIA and earn rewards (ETH, XP) for it.
The program rewards contributions to the DIA mission in various disciplines, from operations to development to growth. The ultimate goal is to create value for DIA’s community of stakeholders. DAO has six guilds and a three-tiered role structure. DIA is the governance token that makes this possible.
Join DIA discord to contribute https://discord.com/invite/HVvCvk4Ffg
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