Bectral Network (BCDN) API and Price Oracle

Bectral Network

BCDN
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
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0x1dA8...1281
Network
Blockchain network where the asset is deployed
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BinanceSmartChain
Methodology
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
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MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
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120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
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Source
Volume 24h
Trades 24h
Pairs
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Token information

What is Bectral Network (BCDN)?

Bectral Network (BCDN) is a blockchain-based platform that aims to provide decentralized finance (DeFi) solutions by creating a bridge between traditional financial systems and blockchain technology. Founded by an anonymous team, Bectral Network was established in [year]. The name "Bectral" is derived from the term "spectral," representing the platform's focus on transparency and accountability. BCDN aims to revolutionize the financial industry by offering secure and efficient financial services through its decentralized ecosystem.

How does Bectral Network work?

Bectral Network is built on decentralized blockchain technology, specifically using the Ethereum blockchain. Ethereum is a popular blockchain platform that enables the development of smart contracts and decentralized applications (DApps).

At its core, Bectral Network functions as a decentralized trustless oracle service. An oracle is a bridge between the blockchain and the outside world, supplying verified data to smart contracts. Bectral Network acts as this external information provider, ensuring the accuracy and reliability of data received by smart contracts.

The network operates by aggregating data from multiple sources, including APIs, web scraping, and off-chain data providers. These data sources are carefully selected and verified to ensure the quality and trustworthiness of the information.

Bectral Network leverages the Ethereum blockchain's security and transparency features to ensure the integrity of the data. The network's validators play a crucial role in verifying and validating the information provided by the oracles. Validators are responsible for checking the accuracy of the data and preventing any potential manipulation or tampering.

Once the data is collected and verified, it is made available to smart contracts through Bectral Network's APIs or as on-chain data. This enables smart contracts to access real-world data, such as price feeds of cryptocurrencies, stocks, or other financial instruments.

Overall, Bectral Network enables developers to build decentralized applications that can interact with external data sources securely and reliably, expanding the functionality and use cases of blockchain technology.

What are the benefits of Bectral Network?

The Bectral Network offers several benefits compared to its direct competitors.

One significant advantage is its robust scalability. Bectral Network is designed to handle a high volume of transactions efficiently, which is crucial in today's fast-paced digital world. This scalability ensures that the network can accommodate growing demands without compromising on performance or speed.

Another benefit is its enhanced security features. Bectral Network employs advanced cryptography techniques and built-in security protocols to protect transactions and user data. This focus on security helps to instill trust and confidence among users, which is especially important in the blockchain space where security breaches can have severe consequences.

Additionally, Bectral Network has a user-friendly interface and intuitive design. It prioritizes the user experience, making it easy for both technical and non-technical users to navigate and interact with the platform. This accessibility factor sets it apart from some of its competitors that may have more complex or confusing interfaces.

Furthermore, Bectral Network boasts a strong and active community. Its community members actively engage in discussions, provide support, and contribute to the network's development. This sense of community fosters a collaborative environment and helps to drive innovation within the network.

While Bectral Network has its own unique set of benefits, it's important to note that each blockchain platform has its strengths and weaknesses. It is recommended that users carefully evaluate their specific requirements and compare the features and characteristics of different platforms before making a decision.

What is Bectral Network used for?

Bectral Network is a blockchain network that is primarily used for secure and decentralized information exchange. It acts as a platform where data can be shared and verified transparently, making it suitable for various use cases in different industries.

One common case where Bectral Network is used is in supply chain management. With the network's decentralized architecture, companies can track the movement of goods and verify their authenticity at each step of the supply chain. This helps in preventing counterfeiting and ensuring transparency, which in turn boosts consumer trust.

Another specific case where Bectral Network can be applied is in the field of healthcare. By leveraging the network's secure and immutable nature, medical records can be stored and accessed securely. The decentralized nature of Bectral Network ensures that patient data remains private and protected from unauthorized access. This not only streamlines the sharing of medical information between healthcare providers but also enhances the security and accuracy of patient records.

In summary, Bectral Network provides a reliable solution for decentralized information sharing. Its applications span across industries, with use cases ranging from supply chain management to healthcare. The network's secure and transparent nature positions it as a potential game-changer in data management and verification.

What is DIA's Bectral Network API?

DIA's Bectral Network API is an integral part of their data infrastructure, providing real-time price feeds for various crypto assets. These feeds are constructed by aggregating data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in a comprehensive and reliable data source.

While DIA does offer free API endpoints for developers to test, their custom feeds hold greater value and flexibility. Custom API data feeds can be specifically tailored by DIA to meet the user's requirements in terms of sources, methodologies, update mechanisms, and more. This allows users to access highly customized and personalized data feeds that cater to their specific needs.

The use cases for DIA's API are numerous and diverse, spanning across the blockchain ecosystem. In the DeFi space, the price information from DIA's APIs can be utilized for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Additionally, in the NFTfi sector, DIA's API opens possibilities for peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and various other applications.

Overall, DIA's Bectral Network API empowers developers and users by providing real-time price feeds that are essential for making informed decisions in the blockchain space. Whether utilizing the free endpoints for testing or leveraging the customization capabilities of the custom feeds, DIA offers a comprehensive solution for accessing vital data.

API stands for Application Programming Interface, which essentially allows different software applications to communicate with each other. It serves as a bridge that enables the exchange of data and functionalities between various systems. In the case of DIA, their API provides developers with the ability to access real-time price data for cryptocurrencies and NFTs, facilitating the development of applications and services that rely on this information.

What is DIA's Bectral Network price oracle?

DIA's Bectral Network price oracle is a smart contract that provides real-time price feeds for cryptocurrencies. DIA stands out from other web3 data providers by offering a wide range of integrated layer 1 and layer 2 networks. With over 35 blockchain integrations, DIA can deploy price oracles on multiple platforms. These price feeds are constructed using raw data from more than 85 on-chain and off-chain cryptocurrency and NFT exchanges, ensuring accuracy and reliability.

While DIA provides demo oracles for developers to test, these are only for trial purposes and cannot be integrated into production applications. However, DIA offers custom configurations for those who require dedicated price feed oracles. These custom oracles can be tailored to specific needs, including sources, methodologies, and update mechanisms. To request a custom feed, users can reach out to DIA through Discord or Telegram.

DIA's price oracles have various use cases within the blockchain ecosystem. They can be utilized in DeFi applications such as derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, and money markets. Additionally, in the NFTfi space, DIA's oracles enable functionalities like peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, and NFT fractionalization.

In the context of blockchain, an oracle refers to an external information provider that supplies verified data from outside the blockchain to smart contracts. This allows smart contracts to interact with real-world information and make informed decisions based on accurate data. DIA's price oracles act as reliable sources for such data, enabling seamless integration of blockchain applications into various industries.

Why use DIA's BCDN API & price oracle?

DIA's BCDN API and BCDN Price Oracle offer numerous benefits for users within the blockchain ecosystem. These tools allow users to access accurate and reliable price data for cryptocurrencies and NFTs. One of the main advantages of using DIA's API or Price Oracle is the high level of customization available. Users can tailor each oracle and API endpoint to meet the specific needs of decentralized applications. This includes configuring data sources, applying data cleaning filters, implementing pricing methodologies, and determining the frequency of updates. By customizing these settings, users can ensure that their data and oracle remain robust and resilient in the face of market conditions, providing global market as well as specific individual or cross-chain market prices.

Another significant benefit of utilizing DIA's API and Oracle feeds is the transparency they offer. DIA's API and oracles provide full and granular transparency throughout the entire data journey. Furthermore, DIA provides various tracking and monitoring tools that allow users to closely monitor their oracle and API feeds. This level of transparency ensures that users have confidence in the price data they are receiving and can make informed decisions based on accurate information.

Overall, the DIA BCDN API and BCDN Price Oracle provide a customizable solution for accessing reliable price data in the blockchain ecosystem. With their high level of customization and transparency, these tools empower users to make informed decisions and navigate the market with confidence.

Why use DIA data feeds and oracles?

Transparent
DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Customisable
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.