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For a long time now, people have been operating under the assumption that money is the most powerful asset that you can own, and that it is what “makes the world go round.” However, in the Age of Information, there might be an even more important asset that one should focus on having — data. After all, on the internet, data is money, and knowledge is power. This is why everyone — from hackers to advertisers, and from the smallest website to the most powerful governments — aims to use the internet to collect as much data about as many people as possible.
Companies like Google, Facebook, and many others have made fortunes just from gathering and selling data, which is why blockchain technology is so focused on making sure that users would be in control of their own data in Web3. Of course, even Web3 itself will require reliable and trustworthy data in order for its products to work and avoid exploitation and manipulation.
This is why a project called Dia (DIA) emerged, addressing this very issue.
What Problems Does Dia (DIA) Solve?
Dia is a blockchain project that focuses on delivering data from any reliable source that it can find to the world of blockchain, in hopes of creating a reliable ecosystem that would not be exploited and tricked by bad actors. Here are some of the things it hopes to achieve.
Source, supply, and share trustable data
The Dia project offers a platform that enables the sourcing, validation, and sharing of transparent and verified data feeds for traditional and digital financial applications. The project features institutional-grade data feeds that cover everything important for the blockchain industry, including things like asset prices, lending rates, metaverse data, and more.
Its open-source oracle platform enables market actors to source, supply, and share trustable data in a decentralized way, and makes the system automatic but still as reliable as anything that centralized systems could ever offer.
Addresses the problem of dated/unverified/hard to access data
Dia’s main goal is to become the Wikipedia of financial data. In other words, it wishes to make all financial data available, but also to address the problem of dated or unverified data, and even data that is difficult to access in the world of crypto and traditional finance. Its main focus is on DeFi, however, as its protocols depend the most on receiving accurate information from the off-chain environment.
Making oracles more transparent
As mentioned, Dia’s data feeds are open-source and fully transparent. The project’s entire code base, sources, and the methods it uses to transfer data will always be fully open-source and publicly available, according to the project. By doing this, Dia aims to show that it has nothing to hide, and that its mission of making all data accessible and useful to the users is the goal that it truly strives to achieve, and that it will lead by example.
Benefits of Dia (DIA)
The project is aiming to solve some crucial issues involving data and free information, that much is clear. However, it also plans to offer certain features to its users that will allow them to benefit directly, and personally.
Free access to historical data
Dia has already decided that access to historical data via its platform will be free for all. It believes that information should be shared freely, and while fresh information that people can profit off of is included in the system in its own way, historical data that can be used for the purpose of learning is, and will be, completely free.
Dia has a native cryptocurrency called DIA, which has multiple use cases. One of them is staking, which will allow users to gain access to new data on the platform, this gaining access to fresh information that can be useful for making a profit, as mentioned earlier. Essentially, by staking DIA tokens, users can incentivize this new information to appear on the platform.
The project also has a plan to use a system of financial incentives that would encourage users to keep the flow of open-source, validated data streams to the oracles up and running at all times. In other words, users will be rewarded for helping the system remain operational.
Lastly, the DIA token can also be used for governance purposes. As always, that means that those who hold DIA tokens will be granted the ability to vote on proposals, as well as submit their own ideas for bettering the project, and having the other members of the community vote on whether or not they should be implemented.
How Does Dia (DIA) Work?
Dia (DIA), or Decentralized Information Asset, is an open-source oracle platform that aims to empower market actors to source, supply, and share trustable data. The project has developed an ecosystem meant to bring data from all available sources onto its blockchain and make it available for everyone.
In the case of historical data, the information will be free to access, but in order for new data to appear on the platform, the Dia users will have to engage in staking. With data being of crucial importance for running the ecosystem — and indeed, the world — DIA plans to bring together data analysts, data providers, and well as data users, all under one roof.
How to Buy Dia (DIA)
Currently, Dia (DIA) is available for purchase on the following exchanges.
Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying Dia (Dia). Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts International & United States residents.
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.
Dia (DIA) — The Wikipedia of financial data
Dia is a project that wishes to become the Wikipedia of financial data, meaning that it doesn’t only aim to make it available, but also trustworthy, fresh, and reliable. Of course, it will feature older information as well as newer, all for the benefit of investors, traders, and those who wish to learn about the world of digital finance.
It has one of the most decentralized, transparent, open-source oracle systems available right now, and as such, it might even grow to become a challenger to Chainlink, whose oracles were the first and still the biggest data delivery system for blockchain that the crypto industry currently has available.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.
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