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What is DIA?

DIA is an ecosystem for open financial data in a financial smart contract ecosystem. The goal of a DIA is to bring together data analysts, data providers, and users. In general, the DIA provides a reliable and verifiable bridge between off-chain data from various sources and on-chain smart contracts that can be used to build a wide variety of financial dApps.

How does DIA work?

Data requirement

Stakeholders seeking a specific set of unpublished data on the DIA platform can submit and fund the request. Successful provision of the respective data is linked to a bonus paid by the person requesting the data with the DIA token after the information has been validated.

Submit data

Encouraged by the data request, the data provider creates the scan engine, connects to the API or on-chain data to deliver the requested data.

Validation

Data analysts verify the submitted code through the betting mechanism. If the submitted data is suspected to be false, anyone can challenge the submitted code by setting a DIA token. The DIA community determines through a stock voting process who provides the right solution and who will be rewarded with a stake in the question. In addition, the association offers bonuses for finding bugs, bugs, manipulating attempts or security bugs, and for improving and building an overall foundation structure and security.

Data storage

Validated data is stored in an open-source, immutable database and published on the DIA platform.

Usage

Access data through oracles (on-chain) or through API (off-chain). Historical financial data can be accessed for free, while DIA tokens are charged for accessing live pricing or specific APIs.

The DIA governance token

The DIA platform is an ecosystem that uses governance tokens. DIA is managed by a decentralized community made up of DIA token holders and their delegates. DIA governance tokens can be used to promote data collection, validate data, vote on association-related decisions, and encourage DIA platform construction.

The DIA admin token is used for activities that include:

  • Vote on governance issues

Any issue related to the association and its platform having a serious impact will be brought up to vote via the governance token. Any token owner can participate and vote on their own.

  • Funding for data collection

Data seekers can place bounties for specific data needs. Data providers that build collections to source specific datasets will be awarded a bonus upon completion of work.

  • Authenticate data through zoning

DIA tokens can be staked to encourage the validation of miracles, scraping tools, existing methodology, and more.

  • Encourage platform development

The DIA platform will be developed by the community and its token holders. Any feature desired can be recommended, voted, sponsored, and developed by the DIA developer community.

  • Access live data streams and specific APIs

All historical data can be accessed for free, while access to live data streams and specific APIs can be purchased with DIA tokens.

DIA platform

DIA (Decentralized Information Asset) is an open-source, data, and prophetic platform for the DeFi ecosystem. DIA leverages crypto-economic dynamics to drive the supply, sharing, and use of transparent, crowd-verified price data, and greetings on financial and digital assets.

  • The data is taken directly from exchange APIs and other public sources to the DIA server.
  • The database has been hashed on the string; the methodology is recorded on Github. Feeds are accessible via oracles or the API.
  • DeFi protocol and other data users can plug and play into DIA data streams.

Conclusion

DIA is an open-source financial information platform that utilizes crypto-economic dynamics to source and validates data. Market actors can provide, share, and use financial data and digital assets.

As a Swiss-based non-profit association, DIA has a mission to democratize financial data, similar to what Wikipedia has done in the broader information space related to encyclopedias. DIA’s data sources and methodology are transparent and publicly accessible to everyone. The DIA uses crypto-currency economic incentives for its stakeholders to validate data sources as they are added and throughout their use.

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