A New Chapter for Chromia
The Chromia blockchain development team has announced the successful deployment of the Asgard mainnet upgrade, bringing significant enhancements to its Layer 1 blockchain. These updates introduce specialised features designed to boost capacity and redefine Web3 application development.
The Asgard upgrade incorporates Chromia Extensions, modular tools aimed at fostering growth across decentralised finance (DeFi) and AI-enabled applications. The team envisions a groundbreaking reorganisation of data on the blockchain, setting the stage for a new era of innovation for decentralised application (dApp) developers.
Chromia Extensions: Unlocking New Possibilities
The Chromia Extensions are modular enhancements designed to:
- Extend functionality: Developers can add features without disrupting the core infrastructure.
- Enhance scalability: Built on Chromia’s relational data architecture, the extensions are tailored for intensive data workloads.
- Support customisation: Fee structures and advanced digital asset capabilities can be fine-tuned for specific dApp chains.
These enhancements align with Chromia’s commitment to a gas-free economic model, ensuring cost-effective and user-friendly blockchain interactions.
Oracle Extension: Real-Time DeFi Support
One of the flagship features introduced by the Asgard upgrade is the Oracle Extension, which provides real-time, fully on-chain price feeds. Updated approximately once per second, this module supports the development of advanced DeFi applications, including:
- Decentralised exchanges.
- Futures and options trading platforms.
- Lending protocols.
Ludvig Öberg, VP of the Chromia Platform Unit, emphasised the significance of this update:
“The Oracle Extension lays the groundwork for an expansion of decentralised finance activity on the Chromia network and the growth of network value.”
To further expand its ecosystem, Chromia is actively integrating its native CHR tokens and Chromia-based assets with centralised exchanges and cross-chain wallets. A public demo of the Oracle Extension is slated for release soon, with integrations into DeFi protocols to follow.
AI Inference Extension: On-Chain AI Execution
Set for launch in Q1 2025, the AI Inference Extension will enable developers to execute AI models directly on-chain, leveraging Chromia’s decentralised network of providers. This feature is part of a broader effort by Chromia’s newly formed Data and AI Division to bring transparency to AI operations, particularly in training data and input processing.
Yeou Jie, Head of Business Development at Chromia, outlined the potential impact:
“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.”
Expanding Chromia’s Use Cases
The Asgard mainnet upgrade represents a major milestone for Chromia, providing a foundation for the blockchain to support diverse applications, including:
- Decentralised finance (DeFi): Improved tools for real-time trading and lending.
- Artificial intelligence (AI): Enhanced transparency and on-chain execution.
- Gaming ecosystems: Leveraging relational architecture for immersive experiences.
- Enterprise solutions: Facilitating large-scale, data-intensive applications.
Strengthening the Chromia Ecosystem
The Asgard upgrade aligns with Chromia’s broader vision of creating a modular, scalable, and transparent blockchain platform. By integrating advanced tools like Oracle and AI Inference Extensions, Chromia is not only catering to current market demands but also positioning itself as a frontrunner in the evolving blockchain landscape.
With innovations that bridge DeFi, AI, and Web3, Chromia is poised to redefine decentralised applications, making blockchain technology more accessible, efficient, and versatile for developers and end-users alike.
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