⛰️SEDA: an Intent-Based Modular Data Layer

Introducing SEDA: A Pioneering Shift in Data Transmission

SEDA goes far beyond today’s definition of an oracle. SEDA is a data transmission and computation network that enables a permissionless environment for developers to deploy data feeds. SEDA implements a fully modular interface that developers can use to dictate what data feeds to fetch and how to use this data for computation. This approach ensures that developers receive results that can be readily integrated into their networks and/or smart contracts. The SEDA Network consists of:

• The SEDA Chain: which is used for settlement, and data storage for distribution.

• The Overlay Network: a Multi-Party Computation (MPC) network that does the data querying and computation.

• Solvers: the entities forwarding new data requests to the SEDA Chain and forwarding results to destination chains.

• Data Providers: the (private) data providers plugging in to the SEDA Network.

The SEDA Chain and Overlay Network have security guarantees consistent with leading layer one networks. Security guarantees are facilitated through game theory, cryptography, strong backstops, and a high degree of configurability and computability.

SEDA eliminates the need for any trusted authority role within the Network with the use of specially designed economic incentives. Any entity can validate, relay, request, and supply data. As a fully interoperable layer one network, SEDA is universally accessible from any blockchain network with shared security.

Developers on destination networks can request both public and private data depending on their desired use case. The SEDA Network incentivizes data providers to participate by allowing them to earn revenue based on the utilization and the value of the data they provide. Data providers get to set their fee on a per-query basis, and will earn a percentage of the on-chain opportunities their data enables through OEV auctions, more on this later.

When issuing a data request, developers on destination networks can specify a set of instructions that determines how SEDA should perform computation on the fetched dataset. As a result, developers on destination networks utilizing SEDA can perform complex computations off-chain. These complex computations enable developers to perform more extensive computation than what would otherwise be possible within the destination network’s rigid smart contract environment.