ElectrifyAsia (ELEC) API and Price Oracle

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For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
Blockchain network where the asset is deployed
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.
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
Volume 24h
Trades 24h
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Token information

What is ElectrifyAsia (ELEC)?

ElectrifyAsia (ELEC) is a blockchain-based platform that aims to revolutionize the energy market by connecting consumers and producers directly. It was founded in 2017 by Julius Tan and Ryan Yeo. The platform allows consumers to buy and sell energy through smart contracts, eliminating intermediaries. ELEC tokens are used as a medium of exchange within the platform. ElectrifyAsia operates in Singapore, Japan, and Australia, offering transparent and efficient energy trading solutions.

How does ElectrifyAsia work?

ElectrifyAsia is a blockchain-powered platform that aims to revolutionize the energy market by providing a decentralized and transparent ecosystem for energy trading. The underlying technology behind ElectrifyAsia is based on blockchain, specifically utilizing the Ethereum blockchain.

At its core, ElectrifyAsia leverages smart contracts to facilitate peer-to-peer energy trading. This means that users of the platform can directly buy and sell energy without the need for intermediaries such as utility companies. The platform utilizes a blockchain oracle to securely fetch data related to energy production and consumption, ensuring the accuracy and reliability of the information.

The functioning of ElectrifyAsia involves a few key steps. First, energy producers can register on the platform, providing details about their production capacity and pricing. On the other hand, consumers can browse through the available energy sources and select the one that best suits their needs. Smart contracts are then executed, automatically initiating the trading process and ensuring that the agreed-upon terms are met.

One of the main advantages of ElectrifyAsia is its transparency. By leveraging blockchain technology, all transactions and energy data are recorded on the Ethereum blockchain, making them immutable and auditable. This transparency helps to build trust among participants and eliminate the potential for fraudulent activities.

Overall, ElectrifyAsia utilizes blockchain technology to enable peer-to-peer energy trading, removing the need for intermediaries and introducing transparency to the energy market. By doing so, it aims to create a more efficient and sustainable energy ecosystem.

What are the benefits of ElectrifyAsia?

ElectrifyAsia is a platform that aims to revolutionize and disrupt the energy industry by leveraging blockchain technology. It offers several benefits compared to its direct competitors.

One of the main advantages of ElectrifyAsia is its decentralized and transparent nature. Utilizing blockchain allows for secure and immutable transactions, ensuring the integrity of energy data and reducing the risk of manipulation or fraud. This transparency can build trust among consumers, energy providers, and other stakeholders, leading to more efficient and fair energy markets.

Another benefit is the ability to connect different energy market participants seamlessly. ElectrifyAsia acts as a marketplace, connecting energy retailers, producers, and consumers in a peer-to-peer manner. By cutting out intermediaries, it can potentially reduce costs and increase the competitiveness of the market.

Furthermore, ElectrifyAsia offers a user-friendly interface and smart contract functionality. Users can easily manage their energy consumption, trade energy credits, and automate transactions through smart contracts. This streamlines processes and enhances overall efficiency.

Compared to its direct competitors, ElectrifyAsia distinguishes itself through its focus on sustainability and renewable energy. The platform aims to promote the adoption of clean energy sources and support the transition towards a greener future. This environmentally friendly approach can resonate with consumers who prioritize sustainability.

In summary, ElectrifyAsia's benefits include decentralization, transparency, cost reduction, market efficiency, user-friendliness, and a focus on renewable energy. Though it is important to conduct thorough research and compare different platforms, ElectrifyAsia's unique features make it a compelling candidate in the energy industry.

What is ElectrifyAsia used for?

ElectrifyAsia is a blockchain-based platform designed to revolutionize the energy market. Its main goal is to enable peer-to-peer energy trading and facilitate transparent and efficient energy transactions.

One common use case for ElectrifyAsia is to provide energy consumers with the ability to choose their energy sources and suppliers. Through the platform, consumers can have access to a wide range of energy producers and select the one that best fits their preferences, whether it is based on price, sustainability, or other factors. This promotes competition and empowers consumers to make informed choices about their energy consumption.

Another use case is enabling microgrids and decentralized energy systems. In regions where access to electricity is limited or unreliable, ElectrifyAsia allows communities to create their own localized energy grids independent of traditional utility companies. This helps to ensure a more reliable and affordable energy supply in areas where traditional infrastructure may be lacking.

One specific case where ElectrifyAsia has made an impact is in rural communities. In many remote areas, access to electricity is scarce or non-existent. ElectrifyAsia has helped these communities establish microgrids powered by renewable energy sources such as solar or wind. This not only provides reliable electricity to these communities but also promotes sustainability and reduces dependency on fossil fuels.

Overall, ElectrifyAsia is a groundbreaking platform that aims to transform the energy market by leveraging blockchain technology. Its potential to enable peer-to-peer energy trading, support decentralized energy systems, and empower communities makes it a significant player in the future of the energy industry.

What is DIA's ElectrifyAsia API?

DIA's ElectrifyAsia API is one of DIA's API endpoints that provides real-time price feeds for crypto assets. These price feeds are constructed by aggregating raw data from over 85 on-chain and off-chain exchanges, resulting in comprehensive and accurate information. DIA's API endpoints are available for free, allowing developers to test and access standardized price feeds.

However, what sets DIA apart is their ability to offer fully customizable, custom feeds. These custom feeds can be tailored to meet specific requirements, such as selecting different data sources, methodologies, or update mechanisms. DIA understands that each user may have unique needs, and their dedicated API price feeds can accommodate these preferences.

The use cases for DIA's API are extensive and span across the blockchain ecosystem. In the DeFi space, the price information from DIA's APIs can be utilized in various ways, including derivatives, options, futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, and money markets, among others. Similarly, in the NFTfi sector, DIA's API can facilitate peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.

DIA's API empowers developers and users to access accurate and customizable price feeds for their blockchain applications. Whether utilizing the free API endpoints for testing or requesting tailored custom feeds, DIA offers a comprehensive solution to meet varying needs in the blockchain ecosystem. To learn more or request a custom feed, individuals can reach out to DIA via Discord or Telegram.

What is DIA's ElectrifyAsia price oracle?

DIA's ElectrifyAsia price oracle is a smart contract that provides real-time price feeds of crypto assets. DIA sets itself apart by being integrated with 35+ layer 1 and layer 2 networks, allowing for the deployment of price oracles in multiple blockchains. These price feeds are constructed using data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, providing accurate and reliable information.

While DIA offers demo oracles for developers to test, these are strictly for testing purposes and cannot be used in production applications. However, DIA also offers custom configuration options for users who require a tailored price feed. These custom oracles can be personalized in terms of sources, methodologies, update mechanisms, and more. To request a custom feed, users can reach out to DIA via Discord or Telegram.

Blockchain oracles, like DIA's ElectrifyAsia price oracle, act as external information providers that supply verified data from outside the blockchain to smart contracts. They play a crucial role in bridging the gap between on-chain and off-chain data, enabling the use of real-world information within blockchain applications.

DIA's custom oracles offer users greater flexibility and customization, making them valuable for a range of use cases in the blockchain ecosystem. From derivatives and lending markets to NFT lending and fractionalization, the price information provided by DIA's custom oracles can empower various DeFi and NFTfi applications.

Why use DIA's ELEC API & price oracle?

DIA's ELEC API and ELEC Price Oracle offer a range of benefits for users in the blockchain ecosystem. One key advantage is the high level of customisation available. Users can tailor each oracle and API endpoint to their specific needs, including configuring the data sources, cleaning filters, pricing methodologies, and update mechanisms. This ensures that the data and oracle remain robust and resilient, providing accurate and reliable price data for cryptocurrencies and NFTs.

Transparency is another major benefit of using DIA's API and Oracle feeds. DIA provides full and granular transparency throughout the entire data journey. Users have visibility into the data sources, cleaning processes, and update frequency, ensuring trust and confidence in the provided price data.

In addition to transparency, DIA also offers tracking and monitoring tools for its oracle and API feeds. Users can closely monitor the performance and accuracy of the data, allowing for quick identification and resolution of any issues.

Overall, DIA's ELEC API and ELEC Price Oracle provide users with highly customizable and transparent solutions for accessing accurate and reliable price data in the blockchain ecosystem. These tools enhance the robustness and resilience of decentralized applications and enable users to make informed decisions based on trustworthy information.

Why use DIA data feeds and oracles?

DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
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.