Conflux announced the establishment of a strategic partnership with DIA to incorporate decentralized Oracle into the Conflux network.
The Conflux network is an open source layer 1 blockchain protocol that provides security, scalability, and scalability for the next generation of open commerce, decentralized applications, financial services, and Web 3.0.
As the only publicly licensed blockchain in China that meets regulatory standards, Conflux enables start-ups and organizations in various industries and continents to develop further, bringing decentralized markets and digital assets, and generating commercial and social impacts. Conflux was established in 2018 and has received US$35 million in investment from well-known investment institutions such as Sequoia Capital, Metastable, Baidu Venture Capital, F2Pool, Huobi.com, IMO Ventures, and the Shanghai Municipal Commission of Science and Technology.
DIA supports Conflux's mission to create secure and interoperable cross-border and cross-protocol assets and data. To this end, Conflux will incorporate DIA's trusted oracle (Oracle) as a key element of its architecture. These Oracles will power the Conflux network through on-chain and off-chain price feeds, enabling DApps (Decentralized Applications) to communicate directly with off-chain information, in order to resolve disputes, risk settlement, and management. The key areas of inputting off-chain data into smart contracts give full play to the innovative role of DeFi .
Eden Dhaliwal, Managing Director of Conflux Network said:
"The growth of DeFi depends on Oracle. Our partnership and fusion development with DIA provide a valuable bridge for off-chain data from various sources, trustworthy and verifiable. The gap between traditional finance and DeFi is continuously reduced. The gap is the next development direction and a key step for the comprehensive development of the DeFi ecosystem."
Michael Weber, DIA founder and chairman of the association, continued:
"Conflux is a model of a multi-functional, scalable, permission-free blockchain protocol that makes the flow of data and assets faster, safer, and more efficient-this is also the goal of DIA. We are very happy to work with Conflux to make DeFi Keep developing in this direction."