Seda Protocol (FLX)

Data Connectivity

Seda Protocol connects real-world data to blockchain networks, allowing smart contracts on any chain to access external information seamlessly.

Interoperability

It supports cross-chain data transmission, enabling different blockchains to share and verify data securely without relying on a central authority.

Oracle Services

Seda Protocol acts as a decentralized oracle, providing reliable, permissionless data feeds for decentralized applications (dApps), DeFi platforms, and other blockchain projects.

Verification and Security

The protocol includes an Interoperability Verification Module that enhances security and decentralization by independently verifying data across multiple chains.

Developer Tools

Seda offers modular frameworks and SDKs for developers to build custom data feeds, bridges, and oracle programs easily on various blockchain networks.

Use Cases

Common applications include supply chain tracking, financial services, price feeds for DeFi, and any scenario requiring trusted real-world data on-chain.

Pros

• Modular Data Layer: Seda Protocol allows any blockchain to configure and interact with custom data feeds, including price data and APIs, making it very flexible.
• Multichain and Permissionless: It works across multiple blockchains without needing permission, enabling broad use and integration.
• Strong Security: Uses cryptography, game theory, and economic incentives to keep data secure and trustworthy.
• Fast Setup: Custom data feeds can be set up quickly, helping developers avoid delays.
• Growing Ecosystem: Partnerships with companies and investors help increase adoption and integration.
• Governance: Token holders can participate in network decisions, giving the community control over important parameters.

Cons

• Volatility: The SEDA token price can be highly volatile, which may affect trading and investment.
• Performance on Low-Spec Hardware: Running Seda Protocol on lower-end devices might cause performance issues or crashes.
• Market Presence: It currently holds a very small share of the overall crypto market, which might limit liquidity and exposure.
• Development Stage: Some parts of the protocol are still under active development, which could mean occasional instability.

For more details, visit the official Seda Protocol website at seda.xyz.

Founders

The founders of Seda Protocol are Peter Mitchell and Jasper De Gooijer.

Additional Founder Mention

Jascha Samadi is also mentioned as a founder in some sources, but the primary recognized co-founders are Peter Mitchell and Jasper De Gooijer.

Key Investors

Seda Protocol is backed by several well-known investors in the blockchain space. Some of the main investors include Distributed Global, Coinbase Ventures, Reciprocal Ventures, Coinfund, Maven 11, and Flow Ventures.

Funding History

• Seed round raised about $10.3 million in May 2021.
• Initial Coin Offering (ICO) raised approximately $11.72 million in December 2021.
• Total funding raised is reported around $23.1 million from over 30 investors.

Investor Types

The investors range from venture capital firms focused on blockchain and crypto to individual angel investors and institutional backers.

These investors support Seda Protocol’s mission to build a multichain, permissionless data transmission protocol connecting real-world data to blockchain networks.

Halal Status of Seda Protocol

• Yes, Seda Protocol is considered halal because it operates as a decentralized video infrastructure network providing real technological services and utility.
• Its business model focuses on real-world utility like video processing and content delivery, which aligns with halal principles of providing genuine services without involving prohibited activities.