Tap (XTP) API and Price Oracle

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Tap

XTP
$
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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0x6368...50fc
Network
Blockchain network where the asset is deployed
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Ethereum
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 Tap (XTP)?

Tap (XTP) is a blockchain oracle designed to provide verified data to smart contracts. It was created in 2017 by the founder, Tap Network. Tap's purpose is to enable seamless integration of real-world data into decentralized applications. The founding company, Tap Network, aims to bridge the gap between the blockchain and traditional industries through their oracle solution. The name "Tap" represents the concept of tapping into reliable external data sources to enhance the functionality of smart contracts.

How does Tap work?

Tap is a blockchain-based platform that facilitates seamless and secure transfers of digital assets. The underlying technology behind Tap is the Ethereum blockchain. Ethereum is a decentralized platform that enables the creation and execution of smart contracts.

Tap leverages smart contracts to enable the transfer of digital assets between users. These smart contracts act as self-executing agreements with predefined conditions. When a user initiates a transfer on Tap, a smart contract is created to facilitate and verify the transaction. The smart contract ensures that the transfer occurs only when the specified conditions are met.

Once a transfer is initiated, Tap uses oracles to gather relevant information from external sources. Oracles are blockchain technology providers that supply verified data from outside the blockchain to smart contracts. This helps ensure that the transfer of digital assets on Tap is based on accurate and reliable information.

Tap also uses secure multi-party computation (MPC) protocols to protect user privacy. MPC allows multiple parties to jointly compute a function without revealing their individual inputs. This ensures that sensitive user information is not exposed during the transfer process.

Overall, Tap leverages the Ethereum blockchain, smart contracts, oracles, and MPC protocols to facilitate secure and efficient transfers of digital assets. Its use of these technologies enables users to transfer assets with confidence and transparency, while also maintaining their privacy.

What are the benefits of Tap?

Tap has several benefits when compared to its direct competitors. One of the main advantages is its interoperability. Tap is designed to work seamlessly across multiple blockchain platforms, allowing users to access and transfer funds between different chains. This is particularly valuable in the current blockchain landscape, which consists of various isolated networks.

Another key benefit of Tap is its focus on usability. Tap aims to provide a user-friendly experience by simplifying complex blockchain interactions. Its intuitive interface and easy-to-navigate features make it more accessible to both blockchain enthusiasts and those new to the technology. This sets Tap apart from some of its direct competitors, which may have steeper learning curves or less intuitive designs.

Furthermore, Tap offers fast and low-cost transactions. By utilizing layer 2 solutions and off-chain processing, Tap can achieve high throughput while keeping transaction fees affordable. This is in contrast to some of its competitors, which may suffer from network congestion or high transaction costs during peak periods.

In summary, Tap's benefits include interoperability, usability, and efficient transactions. These advantages make it a compelling option for individuals seeking a seamless and user-friendly experience when interacting with multiple blockchain networks. However, it's important to evaluate other similar platforms in the market to make an informed decision based on individual needs and preferences.

What is Tap used for?

Tap is a blockchain oracle that provides verified data from external sources to smart contracts. It is used to bridge the gap between on-chain and off-chain data, allowing smart contracts to access and utilize real-world information.

One common use case for Tap is connecting decentralized applications (dApps) to real-time price data. Many decentralized finance (DeFi) platforms rely on accurate and up-to-date price information to execute financial transactions and make informed decisions. Tap can fetch price data from various sources, such as centralized exchanges or decentralized exchanges, and securely deliver it to smart contracts. This enables dApps to calculate token values, provide accurate token swaps, and execute trades based on real-time prices.

Another specific use case for Tap is in the area of insurance. Insurance policies are typically based on real-world events and require accurate and verifiable data to function properly. For example, let's consider flight insurance. With Tap, a smart contract can be connected to an external data source that provides real-time flight information. If a specified flight is delayed or canceled, the smart contract can automatically trigger the insurance payout. This eliminates the need for manual claims processing and enhances transparency in the insurance industry.

In summary, Tap is a blockchain oracle that enables smart contracts to access and utilize verified data from external sources. From connecting dApps to price data in DeFi to automating insurance payouts based on real-time events, Tap plays a crucial role in bridging the gap between the blockchain and the real world.

What is DIA's Tap API?

DIA's Tap API is a powerful tool that provides real-time price feeds for crypto assets. These feeds are constructed using raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, ensuring accuracy and reliability. DIA stands out from other web3 data providers by offering comprehensive and customizable price feeds that cater to specific needs.

While DIA does provide free API endpoints for developers to test, the true value lies in the custom feeds. These custom configurations can be tailored in terms of sources, methodologies, update mechanisms, and more. By offering dedicated API price feeds, DIA ensures that users have access to the most relevant and accurate data for their specific use cases.

The use cases for DIA's API are diverse and span across the blockchain ecosystem. In the realm of decentralized finance (DeFi), the price information from DIA's APIs can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, and money markets, among others. For NFTfi applications, DIA's API enables peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.

API, short for Application Programming Interface, is a set of rules and protocols that allows different software applications to communicate with each other. In the context of DIA's Tap API, it serves as a gateway through which developers and users can access real-time price feeds and integrate them into their own applications.

Overall, DIA's Tap API provides a robust and customizable solution for accessing reliable price data in the blockchain ecosystem. While the free API endpoints are useful for testing, the custom feeds offer a more tailored and beneficial experience for users seeking specific data configurations. For those interested in leveraging the power of DIA's API, the option to request a custom feed is available through channels like Discord or Telegram.

What is DIA's Tap price oracle?

DIA's Tap price oracle is a powerful tool that provides real-time price feeds for crypto assets. As a smart contract integrated with over 35 layer 1 and layer 2 networks, DIA offers the flexibility to deploy price oracles on multiple blockchains. What sets DIA apart is the vast amount of data it sources from more than 85 on-chain and off-chain cryptocurrency and NFT exchanges.

While DIA provides free demo oracles for developers to test in their documentation, these are strictly for testing purposes and cannot be integrated into production applications. However, DIA also offers the option to create custom price feed oracles to meet specific requirements. These custom oracles can be tailored in terms of sources, methodologies, update mechanisms, and more. To request a custom feed, users can reach out to DIA through Discord or Telegram.

The use cases for DIA's price oracles are extensive and can benefit various aspects of the blockchain ecosystem. For DeFi applications, DIA's price information can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. In the NFTfi space, DIA's oracles can enable peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.

It's important to note that in this context, a blockchain oracle refers to an external information provider that supplies verified data from outside the blockchain to smart contracts. With DIA's custom oracles, users have the flexibility to access the precise data they need for their applications in a reliable and secure manner.

Why use DIA's XTP API & price oracle?

DIA's XTP API and XTP Price Oracle offer a multitude of benefits for users in the blockchain ecosystem. By utilizing DIA's technology, users gain access to accurate and reliable price data for cryptocurrencies and NFTs. The standout advantage of using DIA's API and Price Oracle for a specific token lies in their high level of customization. Each oracle and API endpoint can be tailored to meet the specific requirements of decentralized applications. This customization encompasses configuration settings, such as the selection of data sources, the application of data cleaning filters and pricing methodologies, and the frequency of updates. Such flexibility ensures the resilience and robustness of the data and oracle, enabling them to adapt to diverse market conditions and provide a global market overview, as well as prices specific to individual or cross-chain markets. This tailored approach empowers users with a customized solution that aligns with their unique needs.

Another key benefit of DIA's API and Oracle feeds is the transparency they offer. DIA's technology provides complete and granular transparency throughout the entire data journey. Additionally, DIA offers various tracking and monitoring tools to closely monitor its oracle and API feeds. This heightened level of transparency instills confidence in users, as they can easily verify the integrity and reliability of the data.

In summary, DIA's XTP API and XTP Price Oracle present users in the blockchain ecosystem with a range of advantages. Through customization and transparency, DIA empowers users to access accurate and reliable price data that can be tailored to their specific requirements.

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.