The Chromia blockchain development team has announced the successful completion of its Asgard mainnet upgrade that introduces new features and capabilities for the platform. The new features enhance the overall capacity of the Layer 1 blockchain and add specialised capabilities for users.
The Asgard mainnet upgrade includes the launch of Chomia Extensions, expected to support the growth of decentralised finance (DeFi) and AI-enabled applications on the Chromia Network.
Announced on November 15, the Chromia team believes the mainnet will redesign how data is organised on the blockchain, changing the development and use of Web 3 applications. The blockchain utilises a modular framework to offer users and developers of decentralised application (dApp) chains, customisable fee structures, and advanced digital assets.
The extensions are modular enhancements that enable developers to build additional features on top of the main blockchain, expanding functionality and utility while maintaining the benefits of the existing infrastructure. The Extensions complement the platform’s relational data architecture, modular network design, and gas-free economic model for end users.
The Oracle Extension]] provides fully on-chain, real-time price feeds that are updated approximately once a second. It provides developers in Chromia’s ecosystem the ability to develop DeFi applications like decentralised exchanges, futures and options platforms, and lending protocols.
Ludvig Öberg, VP of the Chromia Platform Unit said he believes the Oracle Extension will help grow the DeFi space on the blockchain. “The Oracle Extension lays the groundwork for an expansion of decentralised finance activity on the Chromia network and the growth of network value.”
According to the team statement, the launch of the Oracle Extension purports to bond well with the overall goal of “strengthening connections across the wider cryptocurrency ecosystem.” The company has made recent efforts to integrate native CHR tokens and other Chromia-based tokens with centralised exchanges and cross-chain wallets.
Chromia plans to release a public demo of the Oracle Extension, with integrations by DeFi protocols expected soon after.
Chromia has also announced it has plans to launch an AI Inference Extension, expected in Q1 2025. The module will enable developers to execute AI models directly on-chain using Chromia’s decentralised provider network. The project’s recently formed Data and AI Division’s focus is on creating tools to enhance transparency in AI training data and inputs.
Speaking about the AI Extension’s planned launch, Yeou Jie, Head of Business Development at Chromia, said their team’s plan is to expand “transparency to AI.”
“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.”
Seen as the first major technical update on Chromia, Asgard mainnet provides a way for the blockchain to support other functions and decentralised applications including AI, gaming, finance, and enterprise use-cases.
(Copyright: AI News Chromia's Asgard upgrade launches: “New era for DeFi and AI” - AI News)
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