Chromia, a leading Layer-1 relational blockchain platform, has recently unveiled its Asgard mainnet upgrade, introducing Chromia Extensions to enhance its blockchain capabilities. One of the key highlights of this upgrade is the introduction of the Oracle Extension, which provides real-time Oracle services to support DeFi applications on the network.
The Oracle Extension on Chromia delivers real-time price feeds updated approximately once per second, making it ideal for advanced DeFi applications such as decentralized exchanges, futures and options markets, and lending platforms. This enhancement lays the groundwork for expanding decentralized finance activities on the Chromia network, ultimately leading to the growth of network value, as stated by Ludvig Öberg, the VP of the Chromia Platform Unit.
In addition to the Oracle Extension, Chromia is actively working on building connections within the broader cryptocurrency ecosystem. This includes integrating native CHR tokens and Chromia-based assets with centralized exchanges and cross-chain wallets to improve accessibility for developers and users. Looking towards the future, Chromia plans to launch an AI Inference Extension in Q1 2025, allowing developers to run AI models directly on-chain using Chromia’s decentralized provider network.
Yeou Jie, Head of Business Development at Chromia, emphasized the significance of this upcoming AI Inference Extension, stating that it will further enhance the platform’s ability to bring transparency to AI and other data-intensive use cases by enabling on-chain execution of AI models.
Following the Asgard upgrade, Chromia intends to release a public demo of the Oracle Extension, with integrations into DeFi protocols expected to follow soon after. These developments underscore Chromia’s commitment to expanding its use cases across various industries, including gaming, enterprise, and AI, solidifying its position as a versatile blockchain platform.
In conclusion, Chromia’s Asgard mainnet upgrade showcases its dedication to pushing the boundaries of blockchain functionality. By introducing real-time Oracle services and paving the way for AI capabilities, Chromia is poised to play a pivotal role in advancing DeFi and AI applications. These innovations not only enhance the platform’s utility but also position Chromia as a key player in the evolving blockchain landscape.