The oracle platforms, connect blockchain smart contracts to trusted sources of real data; They are an integral part of many decentralized or DeFi financial applications.
With the meteoric rise of Chainlink (LINK) this year, you may be forgiven that the market is completely sewn. But the defiant DIA (Decentralized Information Asset), which focuses on DeFi, claims that its community-verified data points can improve chainlink accuracy.
Cointelegraph talked exclusively to CEO Michael Weber about why DIA is different before the platform was released as a token on August 3rd.
The oracle platform of massive origin
DIA based in Switzerland, was founded in 2018 after demanding more transparent and accessible data solutions in the area of digital assets and traditional finance.
Instead of providing data points and oracles themselves, The platform enables the community to obtain and validate data through crypto-economic incentives:
“DIA aims to democratize financial data, much like Wikipedia has done in the broader information space regarding a central encyclopedia.”
This provides continuous incentives for the delivery of high quality data streams.as well as to examine and improve existing solutions.
Vice versa, Chainlink usually accepts prices from some locations, which can lead to inaccuracies.
An oracle to see the potential future
Oracle platforms are big news today. The value stored on DeFi platforms reaches historical highs. But Weber believes that this could go even further to become comparable to traditional financial markets.::
“The growth of Oracle solutions will depend heavily on the growth of DeFi applications, while the growth of DeFi applications will depend heavily on the quality and transparency that Oracle solutions offer.”
Open dates from oraclessays Weber, form the basic building block of the entire room.
Token distribution using the bond curve model
The DIA token distribution also differs from traditional token sales. because it follows the model of the linking curve previously used by Bancor and Uniswap.
This essentially defines the relationship between the offer and the price for the offer period with an asset that can be bought and bought back to an intelligent contract.. When demand increases, so does the price, and vice versa:
“This means that the market determines the price of the token based on its demand and not on the team that defines it. We believe that this method is a fairer distribution mechanism for digital assets and will continue to develop.”
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