Switchboard.xyz – Namecheap customer – (United States)
Innovative developers are using .xyz domains to showcase cutting-edge blockchain-focused projects. Data availability network Dill.xyz aims to revolutionize blockchain performance. Tech company Nexus.xyz harnesses zero-knowledge cryptography to advance verifiable computation. Tech startup AnsibleLabs.xyz aims to simplify the conversion of cryptocurrency. In this week’s #BlockchainThursday, we’ll introduce you to an innovative oracle network that seamlessly connects dApps to real-world data: Switchboard.xyz.
Switchboard.xyz is the online home of Switchboard, a permissionless oracle network that aims to help decentralized applications (dApps) connect with real-world data. Since its launch in April 2021, Switchboard has secured billions of dollars in onchain volume, offering a solution aimed at high security and low latency for pricing data. Switchboard strives to address the diverse needs of the blockchain community by focusing on a customizable and user-friendly approach, aiming to ensure that dApps can access accurate and timely data for their operations. In May 2024, Switchboard raised $7.5 million in Series A funding, led by Tribe Capital and RockawayX, with participation from Solana Foundation. 1In August 2024, Switchboard introduced a new Oracle aggregator network, allowing users to aggregate data across multiple Oracle networks, including Chainlink and Pyth, with enhanced security features. Since June 2023, the platform has onboarded over 180,000 users and surpassed $1.7 billion in Total Value Locked (TVL).2
A key feature of Switchboard is its On-Demand oracle system, which helps users select data sources tailored to their specific needs. This system aggregates data from first-party oracles, exchange APIs, and other sources in an effort to provide the most accurate information. Unlike many traditional oracles that rely on a pull-based mechanism, which can introduce delays and give operators an advantage, Switchboard On-Demand is designed to operate in confidential runtimes. This approach is designed to help end users access data promptly, prioritizing security and minimizing latency.
Switchboard also leverages trusted execution environments (TEEs) for an added layer of security. The platform claims that all oracle nodes run approved code and that data is securely processed. Additionally, the platform’s Oracle Queues system, operating on Solana and synchronized across other chains, is designed to organize and manage data feeds efficiently, further enhancing the reliability and performance of the network.
The choice of .xyz for Switchboard’s website reflects the company’s commitment to innovation. As a leading domain extension for technology-forward projects, .xyz aligns with Switchboard’s mission to provide cutting-edge solutions in the blockchain space. .XYZ enhances Switchboard’s online presence and connects it with a broader audience of developers and innovators looking to tap into the power of decentralized technologies. You can learn more by following the platform on X/Twitter @switchboardxyz and by visiting Switchboard.xyz.
1.https://www.finsmes.com/2024/05/switchboard-raises-7-5m-in-series-a-funding.html 2.https://www.nftgators.com/switchboard-unveils-multi-chain-oracle-aggregator-with-enhanced-security-features/XYZ is proud to share about the many incredible members that make up the XYZ community! We encourage you to do your own research before using the products and services of the websites we feature. The information about products and services contained in this blog post does not constitute endorsement or recommendation by XYZ.
