Snetwork (SNET) API and Price Oracle

Snetwork

SNET
$
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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0xFf19...c71C
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 Snetwork (SNET)?

Snetwork (SNET) is a decentralized network that focuses on privacy and security. It provides users with a platform to communicate securely without compromising their data. Founded in 2019 by a team of technology enthusiasts, Snetwork aims to empower individuals to take control of their online privacy. The name "Snetwork" is derived from the combination of "secure" and "network," reflecting its core mission. Key features include end-to-end encryption, anonymity, and secure messaging services.

How does Snetwork work?

Snetwork is a decentralized social networking platform that leverages blockchain technology to provide users with enhanced privacy and control over their data. It is built on the Ethereum blockchain, which is a widely-used blockchain platform.

The underlying technology behind Snetwork is a combination of blockchain and smart contracts. Blockchain technology ensures the integrity and immutability of the data by storing it in a decentralized manner across multiple nodes. This reduces the risk of data manipulation or censorship.

Snetwork utilizes smart contracts to enable social interactions and enforce rules within the network. Smart contracts are self-executing contracts with the terms of the agreement directly written into code. These contracts automate the process of exchanging data and executing actions based on predefined conditions.

The functioning of Snetwork revolves around users' control over their data. Users have full ownership and privacy control over their personal information, allowing them to decide who can access and interact with their data. Additionally, Snetwork incorporates a reputation system that incentivizes positive contributions and discourages malicious behavior.

By utilizing blockchain technology, Snetwork provides a transparent and tamper-proof environment where users have control over their data. This decentralization and user-centric approach aim to address some of the privacy concerns and data monopolies commonly associated with traditional social networking platforms.

It's important to note that this information is based on the available details about Snetwork and its underlying technology. Further research and analysis may be required for a comprehensive understanding.

What are the benefits of Snetwork?

Snetwork offers several benefits compared to its direct competitors. One of its key advantages is its focus on security. Snetwork is built on a blockchain platform that utilizes robust cryptographic algorithms, ensuring the integrity and immutability of the data stored on the network. This high level of security sets Snetwork apart from other competitors in the market.

Another benefit of Snetwork is its efficient scalability. The network is designed to handle a large number of transactions per second, allowing for fast and seamless communication within the network. This scalability is crucial for applications that require real-time data processing and high throughput.

Furthermore, Snetwork distinguishes itself through its advanced consensus mechanism. The network utilizes a proof-of-stake consensus algorithm, which not only ensures the security and validity of the transactions but also significantly reduces the energy consumption compared to its direct competitors that rely on proof-of-work consensus.

Additionally, Snetwork provides a user-friendly interface and intuitive tools that make it easy for developers to build decentralized applications (dApps) on the platform. This promotes the adoption and usage of Snetwork across various industries and use cases.

In summary, Snetwork offers a secure and scalable blockchain platform with an efficient consensus mechanism and user-friendly development tools. These benefits differentiate Snetwork from its direct competitors and position it as a viable option for businesses and developers seeking a reliable and robust blockchain solution.

What is Snetwork used for?

Snetwork, also known as Social Network or simply Snet, is a decentralized platform built on blockchain technology. It aims to revolutionize the way people interact and share information on the internet.

One common use case of Snetwork is social media. Traditional social media platforms often face issues regarding data privacy, censorship, and centralized control. With Snetwork, users have more control over their personal data and can interact with each other directly, without intermediaries. The decentralized nature of Snetwork ensures that no single entity has complete control over the platform, promoting a more democratic and transparent social media experience.

Additionally, Snetwork can be utilized in various sectors such as finance, healthcare, and supply chain management. For instance, in the supply chain industry, the use of Snetwork can improve transparency by securely recording and tracking every step of a product's journey. This can help eliminate fraud, ensure the authenticity of goods, and create a more efficient and trustworthy supply chain network.

One specific case where Snetwork can be beneficial is in the field of content sharing and monetization. Content creators often struggle to receive fair compensation for their work due to the dominance of centralized platforms. Snetwork provides a decentralized alternative where creators can directly interact with their audience and be rewarded for their content through cryptocurrency payments or other mechanisms. This gives creators more control over their intellectual property and can potentially disrupt the current centralized content distribution models.

In summary, Snetwork is a versatile platform that can be utilized in various industries, with social media, supply chain management, and content sharing being some of the common use cases. Its decentralized nature offers increased transparency, data privacy, and user control, making it an attractive solution for those seeking alternatives to traditional centralized platforms.

What is DIA's Snetwork API?

DIA's Snetwork API is a powerful tool that provides real-time price feeds for various crypto assets. These feeds are created by aggregating raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in comprehensive and accurate information. Unlike other web3 data providers, DIA stands out by delivering data that others cannot.

While DIA offers free API endpoints for developers to test, their custom feeds are the real highlight. These custom feeds can be tailored according to specific requirements, including sources, methodologies, and update mechanisms. If a user needs a custom configuration, DIA builds a dedicated API price feed to meet their needs. To request a custom feed, users can reach out to DIA via Discord or Telegram.

The use cases for DIA's API are vast and span across the blockchain ecosystem. In DeFi, the price information from DIA's APIs can be integrated into derivatives markets, options and futures, lending and borrowing platforms, collateralized stablecoins, synthetic asset issuance, money markets, and more. In the NFTfi space, DIA's API can be used for various applications such as peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, and NFT fractionalization.

In summary, DIA's Snetwork API provides real-time price feeds for crypto assets sourced from numerous exchanges. While free API endpoints are available for testing, the real value lies in the custom feeds that DIA offers. These custom feeds can be tailored to meet specific requirements, making them highly beneficial for users in the blockchain ecosystem.

(API, or Application Programming Interface, allows different software applications to communicate and interact with each other, enabling developers to access and utilize specific features or data within an application.)

What is DIA's Snetwork price oracle?

DIA's Snetwork price oracle is a smart contract that offers real-time price feeds for various crypto assets. Unlike other web3 data providers, DIA's price oracle is integrated with over 35 layer 1 and layer 2 networks, allowing for the deployment of price oracles across multiple blockchains. These price feeds are meticulously constructed by aggregating raw data from 85+ on-chain and off-chain cryptocurrency and NFT exchanges, ensuring accuracy and reliability.

While DIA provides demo oracles for developers to test in their documentation, these are solely for testing purposes and cannot be utilized in production applications. However, DIA also offers custom price feed oracles tailored to specific requirements. These custom oracles can be customized in terms of sources, methodologies, update mechanisms, and more. To request a custom feed, users can reach out to DIA via Discord or Telegram.

DIA's price oracles have a wide range of use cases within the blockchain ecosystem. In the DeFi space, they 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 price oracles can be applied to peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other innovative applications.

In blockchain technology, an oracle is an external information provider that supplies verified data from outside the blockchain to smart contracts. Oracles play a crucial role by allowing smart contracts to access real-world data, such as asset prices, without compromising the blockchain's security and immutability.

Overall, DIA's custom oracles offer flexibility and tailored solutions for users seeking more specific price feed configurations. With their extensive integration and diverse use cases, DIA's price oracles contribute to the efficiency and reliability of the blockchain ecosystem.

Why use DIA's SNET API & price oracle?

DIA's SNET API and SNET Price Oracle offer a range of benefits for users in the blockchain ecosystem. One of the significant advantages is the high level of customisation available. Users can tailor each oracle and API endpoint to suit the specific needs of decentralised applications. This includes configuration settings such as the data sources that make up the feed, data cleaning filters, pricing methodologies, and update mechanisms. This customisation ensures that the data and oracle remain robust and resilient to market conditions, providing both global market and specific individual or cross-chain market prices.

Another major benefit of using DIA's API and Oracle feeds is the transparency they provide. DIA's technology ensures full and granular transparency across the entire data journey. Users can closely track the oracle and API feeds using various tracking and monitoring tools provided by DIA.

By leveraging DIA's technology, users can access accurate and reliable price data for cryptocurrencies and NFTs. This reliable data is crucial for making informed decisions in the blockchain ecosystem. With DIA's SNET API and SNET Price Oracle, users can benefit from the customisation options and transparency provided, giving them a tailored solution that adapts to unique market conditions.

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.