DIA Redefines Oracles with Lumina: Boosting Decentralization and Expanding $DIA Utility
With Lumina, DIA, the open oracle network, has unveiled a completely revamped oracle architecture. With its impending testnet launch, Lumina aims to establish new benchmarks for oracles and solve the enduring need of genuinely decentralized and trustless data architecture for web3. It also intends to increase the usefulness of its native token, $DIA.
The most sophisticated oracle capabilities, from sourcing to verification, storage, processing, and delivery, are made possible by Luminas modular component architecture. Notably, DIAs native L2 rollup, or Lasernet, is used for all of Luminas crucial oracle operations. This architectural choice takes use of the most current developments in Ethereum scaling technology.
Every step of the value chains trust assumptions are reexamined by the modular architecture approach: A distributed node network is encouraged by staking mechanisms to gather raw trade data from more than 100 centralized and decentralized exchanges, and their contributions to the system are secured with $DIA, the native token of the platform. Verification of the raw data utilized and the computation performed will be possible using Zero Knowledge components. Lasernet is used to store pricing data provided by each node and compute the final price, guaranteeing an transparent, immutable, and scalable on-chain processing layer. Subsequently, the data is pushed to the required chain using a decentralized messaging protocol.
DIA has already solidified its position as one of the transparent and most versatile cross-chain oracles. With over 50 L1s and L2s integrated, and 200 dApps receiving data from it, it specializes in sourcing and delivering customized data feeds for both off-chain and on-chain information.
Zygis Marazas, DIAs Head of Product says:
Lumina is the culmination of four years of web3 infrastructure innovation cast into one product. It lays the foundation for our vision of a truly decentralized and trustless oracle network that maximizes security and trust while retaining the flexibility to serve any use case.
A progressive path to full decentralization
A phased rollout of DIA Lumina is planned, starting with the introduction of the Lasernet testnet and an early bird staking initiative. The third phase will witness the opening of the open mainnet, which will allow for widespread network involvement, after the second phase, which will see the debut of a closed Lasernet mainnet and live staking.
Paul Claudius, one of DIAs cofounders says:
The new design of our architecture is a paradigm shift for oracles and its users that addresses previously accepted shortcomings in the industry. We are more than excited to release the manifestation of our founding vision truly decentralized and transparent oracles that will be easily integrated with our many existing partners.
Delivering data feeds for any token, LST, RWA, random numbers, and more to any blockchain, DIA is a trustless oracle network. Because the network is permissionless, nodes and stakeholders may take part in distributed data sourcing, which is secured by cryptographic and crypto-economic techniques. All essential oracle operations are carried out using DIAs native Ethereum L2 rollup, Lasernet, guaranteeing complete verifiability and trustless computation.
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
