Chromia Unveils Asgard Mainnet Upgrade: A New Era for Layer 1 Relational Blockchain
The Chromia blockchain development team has officially announced the successful implementation of its Asgard mainnet upgrade. This significant enhancement introduces a variety of new features and capabilities, elevating the platform’s overall functionality.
Key Features of the Asgard Mainnet Upgrade
The Asgard mainnet serves as a major update for Chromia, a Layer 1 relational blockchain. The upgrade focuses on increasing capacity and adding specialized features tailored to meet user needs. Notably, the launch of Chromia Extensions is expected to bolster the growth of decentralized finance (DeFi) and AI-driven applications within the Chromia ecosystem.
Unveiled on November 15, the upgrade significantly alters how data is organized on the blockchain, potentially transforming the development and deployment of Web 3 applications. By utilizing a modular framework, Chromia offers developers of decentralized application (dApp) chains customizable fee structures and advanced digital asset management.
Modular Extensions for Increased Functionality
The new extensions provide modular enhancements, enabling developers to build on the main blockchain without sacrificing the utility of the existing infrastructure. These extensions not only enhance functionality but also align seamlessly with Chromia’s relational data architecture and gas-free economic model for end users.
Launch of Oracle Extension
One of the standout features is the newly launched Oracle Extension. This extension offers fully on-chain, real-time price feeds that are updated approximately every second, empowering developers to create robust DeFi applications. These applications include decentralized exchanges, futures and options platforms, as well as lending protocols.
Ludvig Öberg, VP of the Chromia Platform Unit, expressed optimism about the Oracle Extension’s role in expanding the DeFi space on the blockchain. He stated, “The Oracle Extension lays the groundwork for an expansion of decentralized finance activity on the Chromia network and the growth of network value.”
Furthermore, the launch of the Oracle Extension is aligned with Chromia’s mission to strengthen connections across the broader cryptocurrency ecosystem. Recent efforts include integrating native CHR tokens and Chromia-based tokens with centralized exchanges and cross-chain wallets.
Public Demonstrations and Future Integrations
Chromia plans to showcase a public demo of the Oracle Extension soon, with integrations by DeFi protocols expected to follow shortly after. This step is pivotal for enhancing usability and broadening the scope of applications developed on the network.
Anticipating the AI Inference Extension
In addition to the Oracle Extension, Chromia is also gearing up for the launch of its AI Inference Extension, anticipated in the first quarter of 2025. This module will allow developers to execute AI models directly on the blockchain using Chromia’s decentralized provider network.
Yeou Jie, Head of Business Development at Chromia, highlighted the importance of enhancing transparency in AI training data. “As the world’s only relational blockchain, Chromia has demonstrated its ability to bring transparency to AI and other data-intensive use cases,” he noted.
The Importance of the Asgard Mainnet Upgrade
The Asgard mainnet is viewed as the first major technical update for Chromia. This significant advancement enables the blockchain to better support diverse functions, including applications in AI, gaming, finance, and enterprise use cases.
Conclusion
In summary, the Asgard mainnet upgrade marks a transformative step for Chromia, positioning it as a competitive player in the rapidly evolving blockchain landscape. With new features like the Oracle Extension and plans for the AI Inference Extension, Chromia is well-prepared to facilitate the development of innovative applications across various sectors.
FAQs
1. What is the main goal of the Asgard mainnet upgrade?
The Asgard mainnet upgrade aims to enhance the capacity and functionalities of the Chromia blockchain, facilitating the growth of decentralized applications, especially in DeFi and AI.
2. What are Chromia Extensions?
Chromia Extensions are modular enhancements that allow developers to build additional features on the main blockchain while leveraging its existing infrastructure and benefits.
3. What is the Oracle Extension?
The Oracle Extension provides real-time, on-chain price feeds updated approximately once per second, thereby empowering developers to create various DeFi applications.
4. When is the AI Inference Extension expected to launch?
The AI Inference Extension is anticipated to launch in the first quarter of 2025, allowing developers to execute AI models directly on-chain.
5. How does the Asgard mainnet impact the future of blockchain applications?
The Asgard mainnet upgrade is expected to reshape data organization on the blockchain, enhancing the development and deployment of Web 3 applications, thereby fostering innovations across multiple sectors.
