Going beyond today’s definition of an oracle, SEDA is a multichain-native data transmission protocol built on an entirely decentralized foundation. The SEDA network is a Proof-of-Stake on-chain data provision solution that allows anyone to provide and access high-quality data on all blockchain networks. It is a living market and transport layer that enables access and flow for any type of data through a transparent and secure medium, free of centralized intermediaries.
The SEDA network
SEDA is a trustless data layer that acts as a bridge between the blockchain and the real world, making it possible for all integrated parties to carry out data requests, connect to any data source and query its data in a fully permissionless way.SEDA does not create data or ensure the data is correct. Rather, it ensures the data can pass through the system in a secure and trustless manner by providing a channel for external data and information to flow to and between any blockchain. SEDA is flexible and adaptable, able to fetch a wide variety of data from different sources and formats and provide it to the smart contract in a usable form.
Goals
Permissionless
SEDA is fully permissionless for anyone to use. Any SEDA token holder with enough stake can join the network and start running a validator, relayer, or participate in other roles within the network. The code is entirely open source and visible on our Github, and all interface contracts are verified before being used on a new chain.
Secure
SEDA is chain-agnostic, and uses the same secure network of validators across all chains to complete various data requests. This minimizes the possibility for collusion, and protocols can set up their own anchor nodes to provide a final line of defense to verify a data update before posting it to their protocol.
Scalable
Since SEDA is not a central authority that sets up and distributes data updates using a one-size-fits-all model, the system is as scalable as the market requires. Data request resolvers can be deployed as many times as necessary to support the volume and variety of data requests. SEDA can scale to new networks as soon as a SEDA contract is deployed to the blockchain network and bridging nodes start supporting the new network.
Highly Programmable
Requesters can configure their data requests to fit their exact specifications and use cases. Protocols can, for example, request the use of a particular set of sources, aggregation type, and outlier handling algorithm to fulfill a specific use case.
Upgradeable
The entire SEDA network is built with a series of adapters connecting every component to the next using a generic protocol. Any failed component is able to be switched over to another before the network is impacted.
To know more please consult the official SEDA Network documentation.