SEDA Community Update: May 2023

SEDA
3 min readMay 31, 2023

May has been a productive and eventful month for the SEDA Network. We’ve got some major announcements coming your way, so be sure to keep an eye out — you definitely don’t want to miss it!

Here are some of our biggest accomplishments this month.

We hosted our first SEDA fireside chat

This marked the beginning of a regular series of conversations where we will talk about the state of the crypto industry. The interactive setting allowed for an open dialogue, fostering connections while delving into key topics, including meme tokens and ordinals, block congestion and pricing out users, Euro stablecoins and the state of adoption, the banking crisis and so much more.

Missed it? Catch the recording here.

We kicked off our monthly SEDA community calls

Our monthly SEDA community calls provide a platform for SEDA users and our team to connect, share insights, and discuss opportunities for collaboration. Be sure to tune into the next one for some exclusive alpha!

The SEDA team came together at our bi-annual offsite

Our globally distributed team came together in Germany for a few days of collaboration, discussions, and roadmapping. This was a great opportunity for our team to connect and reinforce our shared vision, as well as align on our priorities for the months ahead.

SEDA Engineering: May Update

As we reach the end of May 2023, it’s time to take a moment and look back at the significant progress we’ve made.

In our previous monthly report, we hinted at our exploration of alternative designs for the settlement layer. Our aim is to enhance scalability and performance, and we’re excited to share the progress we’ve made in this area.

Here’s a summary of our activities during the month:

Exploration & Proof-of-Concepts

We dedicated our efforts to gather knowledge about various projects and frameworks. Through proof-of-concepts and experimentation, we validated our assumptions and explored different blockchain alternatives. Our focus was on infrastructure, smart contract capabilities, available tooling and SDKs, and upgradeability.

Technical Discussions

Engaging in intense technical discussions, we addressed concerns and uncertainties. Our primary goal was to identify and draft the specifications necessary for the SEDA protocol. We covered topics such as entropy and its impact on our protocol, different consensus mechanisms, changes in bridging between chains, and delved into incentives and token dynamics.

Team Offsite

This month, we had the opportunity to come together as a team. Our dedicated time allowed us to enhance communication and increase future productivity. The whiteboard sessions were particularly valuable, fostering a shared technical understanding of the protocol.

The team is buzzing with excitement about the changes ahead. We firmly believe that we are laying the foundations for the next-generation data layer, and the future of SEDA looks brighter than ever. Stay tuned for more details and updates coming your way soon!

In Case You Missed It

About SEDA

SEDA is a multichain, permissionless protocol connecting real-world data to any network on-chain.

SEDA is backed by world-class investors such as Distributed Global, Coinbase Ventures, Reciprocal Ventures, Coinfund, Maven 11, Flow Ventures, among others.

Join SEDA’s community:

Telegram: https://t.me/sedaprotocol
Discord: https://discord.com/invite/wsNwx2N75B
Twitter: https://twitter.com/sedaprotocol

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SEDA

SEDA is a modular data layer that allows any blockchain to configure & interact with custom data feeds for price data, RPC data, or any available API endpoint.