DIA Unveils Lumina Mainnet Launch to Start Era of Transparency in Oracles
DIA, an open-source platform for financial data offering completely verifiable and trustless oracles concerning Web3, RWAs and DeFi applications, has announced the mainnet launch of the cutting-edge oracle architecture Lumina. As per DIA, Lumina’s mainnet launch aims to put an end to the black-box data processing. The platform disclosed this initiative in a recent press release.
For several years, DeFi protocols, blockchain ecosystems, and developers had only one choice and that was to depend on unverified and opaque data feeds. Blockchain networks and DeFi protocols reportedly process billions in the case of stablecoins, lending, and derivatives. For this purpose, they rely on oracles for the execution of transfer. However, the majority of the oracles still work without any transparency. Thus, Lumina is now concluding the respective epoch.
Irrespective of the swift evolution in the DeFi sector, the oracle layer driving it has maintained its position as a crucial failure point. It is still largely trust-based, centralized, and opaque. Most thrilling oracles provide no transparency into the sources of data. Moreover, they depend on closed node ecosystems to collect data. Along with that, they also carry out off-chain aggregation with no verifiable proofs. Subsequently, consumers are helpless and blindly trust the conclusive output, which is a sole on-chain price without any insights into its derivation.
Keeping this in view, DIA Lumina offers a completely transparent and on-chain architecture in which each step of data venture is verifiable. This denotes the earliest instance where the blockchain networks, institutions, and developers can take part in, as well as audit oracle activities directly. Apart from that, Lumina unveils a permissionless and open environment to let anyone contribute to the overall sourcing of data or deployment of the oracle contracts.
Leveraging Modular Data Availability Layer and Optimistic Rollup Layer Technology for Verifiability
According to DIA, Lumina’s central feature is DIA Lasernet, which goes beyond being just another rollup. It is designed for completely verifiable and trustless oracles. It leverages a modular data availability layer and optimistic rollup technology of Arbitrum. Additionally, DIA Lumina plays the role of a critical component of the blockchain infrastructure that is fully regulatory compliant.