Switchboard V3 product
Overview
Switchboard V3 (Switchboard On-Demand) is a decentralized oracle network that provides on-demand data feeds, allowing smart contracts to request oracle updates only when necessary. It is used to bring external data onto blockchain platforms, reducing costs compared to continuous update oracles.
Within the DeFi Intel graph, Switchboard V3 connects to 2 tracked entities, most strongly to Switchboard, Switchboard V2.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|---|---|
developed_by | Switchboard | 80% |
replaces | Switchboard V2 | 80% |
Frequently asked questions
What is Switchboard V3?
Switchboard V3 is an upgrade to the Switchboard oracle network that introduces on-demand data feeds, where oracles push data only when triggered by user requests, rather than on a fixed schedule.
How does on-demand updating reduce costs?
By updating oracle data only when requested by a smart contract, on-demand feeds avoid the ongoing transaction fees associated with continuous oracle updates, lowering overall costs for dApps that do not require constant price feeds.
What blockchains does Switchboard V3 support?
Switchboard V3 initially launched on Solana and is designed to be cross-chain, with support expanding to other blockchain ecosystems.
What is Switchboard V3 connected to?
In the DeFi Intel knowledge graph, Switchboard V3 is linked to 2 other tracked entities, most strongly to Switchboard, Switchboard V2.
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