Switchboard

A decentralized oracle network that provides data to decentralized applications (dApps) and developers. The protocol enables smart contracts on various blockchains to access real-world data, such as price feeds, weather information, or any other external data source.

Operating on a permissionless and customizable model, it allows developers to create and manage their own data feeds from any API. This flexibility caters to a wide range of on-chain data needs, from DeFi to NFTs and gaming. The network is designed to be multi-chain, initially focusing on the Solana blockchain but expanding its support to other networks. By providing reliable and secure data, the company plays a crucial role in the functioning of the Web3 ecosystem, enabling more complex and powerful smart contracts.

The business model is likely based on fees charged for data requests and usage of the oracle network. As the network processes a high volume of data requests weekly, this creates a steady revenue stream. The company serves blockchain developers and dApp creators who require dependable off-chain data for their on-chain applications.

Keywords: oracle network, data feeds, blockchain, smart contracts, web3, multi-chain, permissionless, off-chain data, on-chain data, decentralized applications