Stakin Commences Validator Operations on SEDA Testnet

Mar 7, 2024 1 min read
Seda network

We are excited to announce the start of our validator operations on SEDA network’s testnet.

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 determine 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.

SEDA boasts the following features and advantages:

Multichain native
Any destination network can verify that data originates from the SEDA chain, resulting in shared security, without native oracle deployments to each destination network.

Proof-of-Stake for data provision
SEDA Chain bases its security on Proof-of-Stake (PoS), using the Cosmos SDK as a foundation. The SEDA Network implements another type of PoS, powered by the Overlay Network. The Overlay Network is a Multiparty Computation (MPC) network of nodes, independent of the SEDA Chain Nodes.

Forkless upgrades
Most of the SEDA node logic runs on WASM binaries, which are retrieved from a source pointed to by the SEDA Governance Module. Nodes watch the SEDA Governance Module for any changes to the binary so that it can upgrade it “in-flight.” This mechanism allows SEDA Token holders to have true verifiable control over the future of the SEDA Network

Oracle-Extractable Value
The SEDA Network can now split the profit between the network participants and data providers. SEDA achieves this by auctioning off the right to bundle transactions with the oracle updates. Searchers participate in this auction, and the highest bidder gets the guarantee that their transaction is executed as the first transaction after the oracle update is live. The result is searchers do not have to participate in “gas wars” on the destination network and therefore, there’s less value leaking through inefficient “gas wars.,” 

Explore SEDA Further

For those interested in exploring the technicalities and potential of SEDA we encourage you to visit their Github repos and their Discord channel.

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