rewrite this title Chromia Implements Asgard Mainnet Upgrade, Unveils Oracle Extension – Crypto-News.net

December 3, 2024 — Chromia, a Layer-1 relational blockchain, has completed the Asgard Mainnet Upgrade, introducing new features aimed at supporting decentralized finance (DeFi) and AI-enabled applications. The upgrade includes the rollout of the Oracle Extension, designed to deliver real-time, on-chain price feeds to developers and users.

Notably, the Asgard upgrade marks a significant step for Chromia’s network, adding a framework for modular extensions to its existing relational blockchain architecture. This enables developers to incorporate specialized capabilities into applications, streamlining the development of advanced blockchain solutions.

Oracle Extension: Enhancing DeFi Ecosystems

The Oracle Extension is a centerpiece of the upgrade, offering price feeds that update approximately once per second. This functionality is essential for DeFi applications, including decentralized exchanges, futures platforms, and lending protocols.

“The Oracle Extension lays the groundwork for an expansion of decentralized finance activity on the Chromia network and the growth of network value,” said Ludvig Öberg, VP of the Chromia Platform Unit.

The inclusion of a high-quality oracle service strengthens Chromia’s integration within the broader cryptocurrency ecosystem. The team is working on connecting Chromia’s CHR tokens and other native tokens to centralized exchanges and cross-chain wallets.

AI Inference Extension on the Horizon

Chromia has also announced plans to launch an AI Inference Extension in Q1 2025. This extension will enable on-chain execution of AI models using Chromia’s decentralized provider network, a capability that aims to improve transparency in AI training data and inputs.

“As the world’s only relational blockchain, Chromia has demonstrated its ability to bring transparency to AI and other data-intensive use cases,” said Yeou Jie, Head of Business Development at Chromia. “The AI Inference Extension will take this a step further.”

The AI Inference Extension is part of Chromia’s broader efforts to integrate blockchain technology with real-world needs, creating tools that enhance usability in sectors like gaming, AI, and enterprise solutions.

Future Roadmap and Developer Focus

With the Asgard Upgrade complete, Chromia plans to release a public demo of the Oracle Extension, aiming to onboard DeFi protocols shortly after. This aligns with the platform’s goal to provide scalable, versatile solutions for developers while maintaining its focus on modular design and relational data architecture.

Chromia’s unique gas-free economic model and data-indexing capabilities position it as a key player in advancing blockchain applications. The platform continues to explore ways to bridge blockchain with emerging technologies and real-world applications.