DIA: Transparent, Accurate, and Verifiable Oracle Data for Web3
DIA is a cross-chain, end-to-end, open-source data and oracle platform for Web3. It provides fully customisable and transparent data feeds for over 20k digital assets including cryptocurrencies, NFT collections, Liquid Staked Assets, Randomness and more. DIA’s data feeds are sourced directly from 80+ on- and off-chain sources including DEXs, CEXs and NFT marketplaces utilizing a network of node providers that includes Blast API as well.
DIA’s architecture uniquely enables data to be filtered and computed with fully customisable methodologies to respond to the unique demands of each and every feed. This ensures that the data and oracles remain robust and resilient to market conditions and provide a global overview as well as specific individual or cross-chain market prices.
Why are blockchain oracles critical for Web3?
Blockchain oracles are necessary for DeFi as they allow smart contracts to access real-world data, not available natively in blockchains. Without them, DeFi applications would be limited in their capabilities and would be more vulnerable to fraud and manipulation. Some of the most popular DeFi use cases enabled by price oracles include lending and borrowing, money markets, options and futures, synthetic asset issuance, and more.
Oracles work by connecting smart contracts to off-chain data sources. This data can be anything from price feeds to weather data to random numbers. Once the smart contract receives the data, it can be used to execute the contract’s logic. If the oracles deliver false or corrupted data to smart contracts, or their methodologies enable malicious actors to manipulate the data (by, for example, performing flash loan attacks), there is risk of exposing protocols and users’ assets to malicious actors.
DIA’s End-to-End Data and Oracle Platform
DIA’s product suite addresses all oracle needs that a dApp may use, including features such as Digital Assets Price Feeds or NFT Floor Price feeds. DIA enables the creation of price feeds for over 3,000 crypto tokens, 18k+ NFT collections and more, with the option to tailor each feed for certain protocols and use cases.
DIA’s data source transparency and customization capabilities come as a result of the suite’s unique architecture, allowing some of the widest coverage available on the market.
DIA first collects raw data from a variety of sources, including centralized exchanges (CEXs), decentralized exchanges (DEXs), and non-fungible token (NFT) marketplaces, offering 100% source transparency and bespoke customization. Any data feed that is publicly accessible can be sourced, regardless of its listing conditions and trading volume; there is no dependency on third-party data providers. Data from on-chain sources is fetched via a network of decentralized nodes.
Blast provides the reliability and performance required to source all this data by employing the resources of hundreds of third-party node providers combined with a decentralized blockchain API platform.
Collecting trade data from CEXs and DEXs is a complex process. It requires opening a web socket subscription for each liquidity pool. In the case of Uniswap fork DEXs, this can mean opening thousands of subscriptions in parallel. Being able to source all this data while maintaining high reliability and availability is no longer an issue, thanks to Blast.
“DIA’s open-source data platform constantly pulls a significant amount of data from different layer one and layer 2 networks. A requirement that not all node providers are capable of delivering.” (as stated by DIA representative)
After collecting the raw data, DIA stores it in a highly granular database. This means that the data is stored to allow users to easily access and analyze it. DIA’s database also allows users to create custom feeds, allowing them to tailor the data to their specific needs.
Users can customize the data by selecting the sources, methodologies, markets, and other factors they want to include in the feed.
Last but not least is the distribution of this data, which is done via traditional APIs or blockchain oracles. DIA currently supports the publishing of data feeds in 35+ blockchain networks thanks to robust decentralized node networks like Blast.
“Bware Labs team gave us a blazingly fast response, and they were able to quickly deploy a dedicated infrastructure set-up, specifically designed to respond to our unique requirements.” (as stated by DIA representative)
Blast API provides DIA with node support in Astar, Moonbeam networks, and more, allowing for a data collection process with no rate limits on parallel connections. Not only this, DIA needs to maintain its ability to generate high-confidence price oracles not only for the top tokens but also for the less popular ones. If no project can provide oracles for a specific token, no DeFi application will be able to integrate it into their products. Blast is also highly accurate, which is essential for DIA, as they need to gather precise and correct data to make it available for their users.
Using clustering and third-party node geographical distribution, Blast can provide resilient, reliable, and distributed infrastructure services at the fastest response times compared to other providers.
Blast API also offers several benefits to developers, including increased performance and response rate, support for multiple blockchain networks, immediate availability, a friendly dashboard and user experience, support for payments in stablecoins, unmatched pricing, and 24/7 engineering support.