The Oracle Extension and its Role in the Chromia Ecosystem

‘TLDR’ Summary:

The Asgard Upgrade is scheduled for Tuesday December 3rd.
Asgard will introduce support for Chromia Extensions, modular additions that offer enhanced features to Chromia dapps on an as-needed basis.
The Oracle Extension, launching this December, will be the first public release. Check Chromia’s official roadmap for the full Extensions timeline.
Chromia dapps that utilize the Oracle Extension will gain access to real-time price feeds that are updated with every new block (~1 second).
This Extension will facilitate the development of high-quality DEXs, lending protocols and other decentralized finance tools on Chromia.
These emergent dapps, along with CEX and cross-chain wallet integrations, aim to connect Chromia more closely with crypto markets, driving network growth and activity.

The Asgard Upgrade and Extensions

On December 3rd, 2024, Chromia will release the Asgard Mainnet Upgrade, introducing Chromia Extensions to enhance modularity and customization for dapps. These Extensions allow developers to add specialized functionality based on their application's requirements. The first Extension, the Oracle Extension, will enable Chromia dapps to more effectively utilize real-world data originating off-chain.

Real-Time Data with the Oracle Extension

The Oracle Extension bridges the gap between off-chain and on-chain environments, delivering real-time data feeds that are updated with each block, approximately every second. This continuous data flow ensures that Chromia dapps can operate with accuracy and reliability.

For DeFi applications like DEXes and lending platforms, these feeds provide critical price data, ensuring precise trade execution and secure collateral management. By integrating this Extension, developers can eliminate the delays and inconsistencies and build the best user experience possible.

The Oracle Extension creates a direct connection between oracle data and target dapps, providing feeds that update continuously with each block.

Paving the Way for Decentralized Finance

The Oracle Extension will support the development of DeFi applications on Chromia, enabling features such as automated market makers, lending protocols, and tokenized asset trading platforms. These applications will utilize real-time oracle data while benefiting from Chromia’s relational architecture, gas-free model, and scalable modular framework.

Beyond this, the Oracle Extension is part of a broader initiative to integrate Chromia more deeply into the global blockchain ecosystem. Efforts to integrate CHR and the Chromia Network with select centralized exchanges (CEXs) and cross-chain wallets are already underway. While specific details remain under wraps, these advancements aim to make Chromia more accessible and interconnected, driving increased user activity and total value locked (TVL) on the network.

Oracle Extension Timeline

A public demonstration of the Oracle Extension will be released shortly after the Asgard upgrade. Following this, the Extension will be integrated into several dapps. This rollout represents only the beginning of Chromia’s journey with Extensions. Our official roadmap includes additional tools that will continue to expand the platform’s potential, including AI Inference, data availability, and zero-knowledge solutions slated for future releases.

The Asgard Era Begins on December 3rd

The Asgard Upgrade and the launch of the Oracle Extension mark key developments for Chromia, introducing tools designed to expand the platform’s capabilities. By integrating new features with its relational blockchain architecture, Chromia aims to support the creation of more efficient and interconnected decentralized applications.

The launch of the Oracle Extension also begins the rollout of Chromia Extensions, offering developers additional functionality to enhance their projects. Further updates will continue to shape the ecosystem and open new possibilities.

About Chromia

Chromia is a Layer-1 relational blockchain platform that uses a modular framework to empower users and developers with dedicated dapp chains, customizable fee structures, and enhanced digital assets. By fundamentally changing how information is structured on the blockchain, Chromia provides natively queryable data indexed in real-time, challenging the status quo to deliver innovations that will streamline the end-user experience and facilitate new Web3 business models.