Asgard

Chromia

DeFi

The Chromia team has made the announcement that the Asgard Mainnet Upgrade has been successfully completed. In order to improve the capabilities of the Layer-1 relational blockchain, this milestone provides additional features that are aimed to optimize performance. It is anticipated that the upgrade&nbsp;would facilitate the development of apps on the Chromia Network that are empowered with artificial intelligence and decentralized finance.
Chromia Extensions is a modular system that provides additional features to Chromia’s relational blockchain. The framework for Chromia Extensions is the key feature that Asgard has offered. These Extensions are designed to supplement the fundamental characteristics of the platform, which include its relational data architecture, modular network design, and gas-free economic model for end users.
As a component of the upgrade, Chromia introduced the Oracle Extension, which offers real-time pricing feeds that are updated about once per second and are generated entirely on the blockchain. By providing support for the creation of decentralized finance applications, such as lending protocols, futures and options platforms, and decentralized exchanges, this capability is included.
Ludvig Öberg, VP of the Chromia Platform Unit, remarked:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “The Oracle Extension lays the groundwork for an expansion of decentralized finance activity on the Chromia network and the growth of network value.”
</blockquote>
Within the context of a larger initiative undertaken by the Chromia team to increase linkages to the wider cryptocurrency ecosystem, the development of a high-quality Oracle service is a component of this initiative. The integration of native CHR tokens and other Chromia-based tokens with centralized exchanges and cross-chain wallets is one of the components of the efforts undertaken.
Additionally, the team has revealed their intentions for the AI Inference Extension, which is anticipated to be released in the first quarter of 2025. By using Chromia’s decentralized provider network, this module will make it possible for developers to run artificial intelligence models directly on the blockchain. The Data and AI Division of the project, which was only recently established, is concentrating on the development of technologies that will improve the openness of AI training data and inputs.
Yeou Jie, Head of Business Development at Chromia stated:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “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.”
</blockquote>
In the wake of the Asgard Upgrade, Chromia intends to make available to the public a demonstration of the Oracle Extension, and integrations with DeFi protocols are anticipated to follow shortly thereafter. These initiatives are a reflection of the platform’s larger emphasis on supporting a variety of applications, such as artificial intelligence, gaming, and enterprises&nbsp;use cases, while also continuing to integrate technologies related to blockchain with the requirements of the real world.

Chromia Successfully Completes Asgard Mainnet Upgrade, Unveils Oracle Extension

TheNewsCrypto

Other articles published on Dec 3, 2024

Trescon’s World Blockchain Summit Rebrands to HODL, Signalling a Bold New Era for Innovations in ...

Where are QUA tokens located and how many are in circulation?

Tron (TRX) Gains Momentum As Founder Hints XRP-Like Potential: What's Ahead?

South Korea retail crypto trading hits $18B, beating local stock market

PEPE Tumbles 20% From All-Time High: Is the Meme Coin Rally Over?

Weekly Article Recap: 11/25-11/29

Join our free newsletter for daily crypto updates!