Get ready for a wild ride, folks, because we’re about to unleash our Q1 2023 Roadmap on the community and give you a sneak peek into what we’re working on! January has been a productive month for the SEDA Testnet and our ecosystem and engineering teams are now shifting gears to take things to the next level. Here’s what we have in store.
This quarter, we are amping up our efforts to expand our partnerships and bring new perspectives and use cases to the SEDA Network. Here are our main goals for Q1 2023:
- It’s time to spread our wings! We’re reaching out to new Web3 native providers like Binance, Coingecko, CoinmarketCap, DeFi Llama, and more to expand our native web3 data footprint. Our goal is to bring new perspectives and data to the table.
- We’re teaming up with Web2 data providers and companies that are revolutionizing the on-chain space, such as OpenAI, Google, Amazon, Deutsche Bank, and others. Together, we’re exploring new use cases that will bring even more value to the SEDA Network.
- Time to get down to business! We’re building data price models to simulate pricing for off-chain data and help us understand expected token burns at the Mainnet launch.
- Want to know what your rewards could look like as a validator on the SEDA Network? We’re developing a staking calculator that will simulate validator staking, rewards, token burns, and inflationary rates.
- The SEDA Network is built on cutting-edge technology and design, but we know it can be overwhelming at times. That’s why we’re continuing our research into Oracle Extractable Value and its revenue potentials, and breaking down complex technical and design decisions into easy-to-digest #SEDABytes threads. It’s like having a knowledgeable friend explain it all to you in layman’s terms.
Our team has been hard at work putting together a solid foundation for our Testnet-0 and Testnet-1 releases, which will include the implementation of project infrastructure, P2P network functionalities, WASM virtual machines, and staking contracts. We are committed to ensuring that our network is built on the most secure and efficient technology available. Here is a brief summary of our goals for Testnet-0 and Testnet-1:
● Setup project infrastructure
● Implement basic P2P network functionalities
● Support the execution of WASM Virtual Machines
● Implement SEDA Token main-chain contract
● Implement a simplified consensus algorithm as WASM binary
● Implement SEDA core contract with simplified consensus logic
● Implement staking contract (without incentives)
Let’s take a closer look at the technical features for testnet-0 and testnet 1.
- Command Line Interface (CLI): enables user interaction with running SEDA nodes by using a binary executed from a terminal.
- Configuration Management: provide multiple means to configure the application (config file, environment variables, and binary arguments).
- Cryptographic primitives: support of low-level cryptographic algorithms used by the SEDA protocol. P2P network basic functionalities
- P2P parameters: setting up the configuration for a distributed network, e.g., number of connected peers, polling periods, etc.
- Gossip protocol: provide message broadcast capabilities to the application, e.g., propagation of main-chain validator votes across the whole network.
- Peer discovery: provide a process of locating other nodes in the P2P network. It is critical for supporting self-healing services and network maintenance.
- Job Manager: the component that handles events and triggers different actions (e.g., executing the consensus WASM VM with given inputs).
- Event queueing system: enable asynchronous processing triggered by the occurrence of events. For example, it will allow the execution of a WASM VM upon a P2P message arrival.
- Runtime SDK: provide a framework for executing asynchronous code within WASM VM and a convenient interface with SEDA’s host runtime functions. For example, SEDA consensus business logic will run as an isolated WASM VM. This enables protocol forkless upgrades.
- SEDA token (NEP-141): standard interface for fungible tokens that allows for a “normal” transfer as well as a transfer and method call in a single transaction.
- Staking: support for staking actions from the command line interface (CLI).
Consensus WASM binary
- Data Request Batch Handler: perform all operations needed after the event of a new batch is proposed. Batches are composed of data request execution results.
- Batch Vote Handler: perform all operations needed after a batch vote is received (e.g., signature verifications).
- SEDA core contract: act as a settlement layer for the SEDA protocol. It includes all consensus business logic required on the main-chain contract (e.g., data structures, verification functions, and consensus algorithms.
- Staking contract: enable staking capabilities by granting validator nodes access to staked SEDA tokens. It also includes unstaking and withdrawal functions.
The SEDA Network is on a mission to revolutionize the on-chain data industry through cutting-edge technology and partnerships with top players in the Web3 and Web2 space. With a focus on building data price models, staking calculators, and user-friendly resources, the engineering team is working hard to bring this vision to life. Testnet-0 and Testnet-1 are key milestones in this journey, laying the foundation for a robust and secure network.
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.
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