The mainnet launch also introduces new specialized Extensions to enhance the development of decentralized finance (DeFi) and artificial intelligence (AI) apps on the blockchain.
Chromia, ta Layer 1 platform that combines blockchain with relational databases, has announced the launch of the Asgard mainnet upgrade. The mainnet is the first major technical update for the blockchain, introducing new features designed to enhance the capabilities of the blockchain.
The Asgard mainnet also introduces specialized Extensions – Oracle Extension and AI Inference Extension – to support the growth of decentralized finance and AI-enabled applications on the Chromia Network. These Extensions are a modular system that adds specialized capabilities to Chromia’s relational blockchain. In addition, they provide customization to decentralized applications and complement the platform’s core features, including its relational data architecture, modular network design, and gas-free economic model for end users.
Asgard Mainnet Introduces Oracle Extension
The first Extension launched, following Asgard’s unveiling, is the Oracle Extension. This Extension will bridge the gap between off-chain and on-chain environments, providing real-time data feeds to DApps on the platform. These data feeds are updated with each block, meaning fast, sub-second updates. This continuous data flow ensures that Chromia DApps can operate with accuracy and reliability.
In addition, the Extension supports the development of complex DeFi applications such as decentralized exchanges, futures and options platforms, and lending protocols. These protocols receive critical price data, ensuring precise trade execution and secure collateral management.
“The Oracle Extension lays the groundwork for an expansion of decentralized finance activity on the Chromia network and the growth of network value,” said Ludvig Öberg, VP of the Chromia Platform Unit.
The Oracle Extension is part of Chromia’s plan to interconnect with the broader crypto and blockchain ecosystems. It adds to the recent developments in integrating CHR and the Chromia Network with select centralized exchanges (CEXs) and cross-chain wallets. This aims to make Chromia more accessible and interconnected, driving increased user activity and total value locked (TVL) on the network.
AI Inference Extension Set To Launch Q1 2025
The team statement also confirmed the launch of the second piece of the Chromia Extensions puzzle – AI Inference Extension. Expected to launch in Q1 2025, the AI Inference Extension is a module that will enable developers to execute AI models directly on-chain using Chromia’s decentralized provider network. The project’s recently formed Data and AI Division is focused on creating tools to enhance transparency in AI training data and inputs.
Yeou Jie, Head of Business Development at Chromia, explained the benefits and futuristic innovations set to be brought about by the Extension’s launch, stating:
“As the world’s only relational blockchain, Chromia has demonstrated its ability to bring transparency to AI and other data-intensive use cases. The AI Inference Extension will take this a step further, enabling on-chain execution of AI models.”
A public demonstration of the Oracle Extension has been released following the Asgard upgrade. Notwithstanding, the Extension will also be integrated into several DApps, with the team expecting the Oracle to support other DApps apart from DeFi, including AI, gaming, and enterprise use cases.
Finally, the team also announced its plans to continue bridging blockchain technology solutions with real-world problems and expand its potential in areas such as data availability, and zero-knowledge solutions slated for future releases.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2024/12/chromia-launches-asgard-mainnet-unveiling-the-oracle-extension