Blockchain Infrastructure Provider Ripple Labs has recently integrated a new data platform for its decentralized public blockchain, XRP LEDGER (XRPL). The platform, named Lumina, is created by Dia (DECENTRALZED Knowledge Asset) and will provide Oracle Services and Products.
The Lumina Platform of Dia was live on 26 March and it will provide trusted and verifiable Oracle services and products for the desntralized finance (Defi), Real-World Assets (RWAS) and Web3 Packages in Crypto Ecosystem. Dia claims that Lumina will install a new standard for Platform, Oracle Security, Transparency and Ephesions.
Introduction and benefits of lumina
Dia states that Lumina will end “Black-Box Data Processing”, which has so far used the Defi protocol and blockchain network used for centralized and suspected data feeds. The design of Lumina is completely open and transparent, allowing every stage of data to be verified. This platform will give developers, networks and organization a chance to directly audit.
The purpose of Lumina is to free Crypto Networks from Oracle Carrier who previously worked in an opaque manner. Its entire operation will be on-chain and transparent, which will reduce any kind of fraud or data tampering. Major P2P networks like Ripple and Stellar have chosen Dia to provide Oracle services and products on their blockchain.
Transparency and Trustlessness
The biggest advantage of Lumina is its entire transparency and trustlessness. Other Oracle Services and Products like Chainlink And separated from Pyth, Lumina presents a design that corresponds to organizational and regulatory standards. RIPPLE believes that the development of the RWAS sector requires a fully audited and Trustless of-Chain data and Lumina makes it possible.
DIA’s Business Development Head, Dillon Hanson said, “Till now, Oracle was considered wrong (as a disadvantage), but Lumina is the first Oracle Platform, which gives you permission to Trustless Eughes.
Lumina’s technical base
The main technical element of Lumina is Lasernet, a modular layer-2 rollup, designed for trusteles and verified Oracle services. This platform uses the optimistic rollup technology and safety of Arbitrum, so that Oracle transactions can be processed publicly and in a verified manner.
Dia says that “We are not competing with the existing Oracle Carrier, keeping every transaction, price feed and calculation on-chain, but making them older.” If you want to know in detail about ripple What is ripple Read the blog.
Conclusion
Dia’s lumina platform is an important step for ripple and other crypto networks, as it introduces a new and more secure system for Oracle Services and Products. Its transparency and trustlessness can start a new chapter in blockchain technology, so that developers and organizations can use more safe and verified data.
