The Good Tech Companies - DIA’s Lumina to Roll Out in Phases, Pioneering a Decentralized Approach to Data Management

Episode Date: September 11, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/dias-lumina-to-roll-out-in-phases-pioneering-a-decentralized-approach-to-data-management. The leading open oracle network, DIA, is taking a bold step forward in the decentralized data market with the launch of 'Lumina'. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #blockchain, #dlt, #cryptocurrency, #web3, #lasernet, #dia, #staking, #good-company, and more. This story was written by: @ishanpandey. Learn more about this writer by checking @ishanpandey's about page, and for more stories, please visit hackernoon.com. The leading open oracle network, DIA, is taking a bold step forward in the decentralized data market with the launch of 'Lumina'. Lumina addresses the ongoing demand for fully decentralized, trustless data infrastructure in web3. Lumina’s architecture uses staking incentives to motivate a distributed network of nodes to collect trade data from over 100 centralized and decentralized exchanges.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. DIA's Lumina to roll out in phases, pioneering a decentralized approach to data management, by Ashan Pandey. The leading open oracle network, DIA, is taking a bold step forward in the decentralized data market with the launch of Lumina. Lumina addresses the ongoing demand for fully decentralized, trustless data infrastructure in Web3. This innovative design also enhances the utility of DIA's native token, $DIA, by integrating it into a new system that rethinks the way oracles operate. DIA is a decentralized oracle network that provides data feeds for tokens, liquid staking tokens, LST, real-world assets, RWA, random numbers, and other information to all

blockchains. The architecture of DIA is permissionless, enabling nodes and stakers to engage in decentralized data sourcing that is safeguarded by cryptographic and crypto-economic methods. All essential Oracle tasks are conducted on DIA's Ethereum Layer 2 rollup, named LaserNet, guaranteeing reliable calculations and complete auditability. Powered by LaserNet, a rollup-based, modular oracle architecture. At the heart of Lumina's advanced design is its modular architecture, which revolutionizes oracle operations from data sourcing to verification, storage, processing, and delivery. All key functions take place on DIA's native L2 rollup,

LaserNet, leveraging Ethereum's latest scaling technologies for optimal performance. This approach provides flexibility and scalability, ensuring oracles remain transparent, secure, and decentralized. Lumina's architecture uses staking incentives to motivate a distributed network of nodes to collect trade data from over 100 centralized and decentralized exchanges. The native dollar DIA token secures these contributions, while zero-knowledge components verify the raw data and computations. With LaserNet managing both data storage and processing, the system ensures on-chain integrity and immutability, sending data where it's needed via a decentralized messaging protocol. DIA is known as a flexible and transparent cross-chain oracle in the industry.

By integrating with over 50 L1 and L2 chains, DIA provides data support for over 200 decentralized applications, DAPPs, with customizable data feeds for on-chain and off-chain purposes. Ziggy's Marazaz, DIA's head of product, emphasized, Lumina represents four years of Web3 innovation, consolidating it all into one product. It is the cornerstone of our vision for a decentralized, trustless Oracle network that guarantees security and flexibility for every use case. A phased rollout for full decentralization. DIA's Lumina will follow a phased rollout for full decentralization. DIA's Lumina will follow a phased rollout, beginning with the launch of the LaserNet testnet and an early bird staking

campaign. Next, the LaserNet mainnet will go live in a closed environment, introducing live staking, followed by an open mainnet that will allow broad participation from the Web3 community. This redesign is a paradigm shift for the Oracle space, said DIA co-founder Paul Claudius. With Lumina, we are realizing our founding vision of a fully decentralized, transparent Oracle network that can be seamlessly integrated be your partners. Don't forget to like and share the story. Tip Vested Interest Disclosure This author is an independent contributor publishing via our business blogging program.

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