FAQ

• What is Switchboard?

  • Switchboard is the leading oracle network designed for customisation and reliability. It's also the first to act as an 'oracle aggregator', meaning it gathers data from multiple sources to enhance accuracy and resilience. For Web3 applications, Switchboard provides easy and verifiable access to a vast range of real-world data – from price feeds and event outcomes to reputation scores and beyond. You can tailor data requests to your exact DApp needs and get data feeds for any Web2 and Web3 assets in less than half a second.

• What features does Switchboard offer?

  • Switchboard offers a powerful set of features focused on delivering flexible and reliable oracle services:

    • Highly Customisable Data Feeds: Select from existing feeds, aggregate the feeds from other oracles, or create your own specific feed for your application needs.

    • A fully decentralised and resilient network of oracle nodes: Built with a robust network of independent node operators that provide data feeds with maximum uptime and data security.

    • Verifiable and Transparent Data Delivery: On-chain verification ensures trust and auditability of any data feeds.

• What assets does Switchboard have feeds for?

  • All major price feeds (BTC, ETH, SOL etc.), long tail assets (meme coins, LSTs, LRTs, etc.), and even Web2 data via APIs (public & private)

• What is the speed of Switchboard oracle?

  • Switchboard is the fastest oracle with Data Feeds operating with an average latency of 400ms and is, on average, four times faster than other oracle providers.

• What types of data can I get with Switchboard?

  • You can get any data with Switchboard! Think of it like this: if the data exists online, Switchboard can bring it on-chain for your application. Here are just a few examples:

    • Prices: Crypto prices (like the USD price of Bitcoin or Ethereum), stock prices (like Apple, Tesla), commodity prices (like gold, oil).

    • Events: Sports results, weather forecasts, election outcomes, flight delays.

    • Web3 Data: Blockchain gas fees, DeFi lending rates, NFT floor prices, on-chain metrics.

    • Random Numbers: Verifiable random numbers for games or raffles.

    • And much more: Anything accessible via an API – custom data, specific metrics, and specialised information tailored to your needs.

• What applications can I build with Switchboard oracles?

  • With Switchboard Oracles, you can build applications that react to real-world information and events in a trusted and automated way. Here are some functionalities and examples of what's possible:

    • Price-Sensitive Applications (using Data Feeds): Decentralised exchanges, lending platforms, algorithmic stablecoins, portfolio trackers.

    • Event-Driven Applications (using Real-World Event Data): Prediction markets, insurance payouts, automated betting platforms, conditional contracts.

    • Randomness-Dependent Applications (using Verifiable Randomness): On-chain games, lotteries, fair distribution mechanisms, NFT minting processes.

    • Data-Informed Automation (using any data type): Dynamic pricing based on market conditions, reputation-based systems.

    • Hybrid Web2/Web3 Applications: Bridging the gap between the traditional internet and blockchains by bringing real-world data into smart contracts to enhance functionality and user experience.

• Why would I choose Switchboard vs competitors?

  • Here are the key reasons to choose us over competitors:

    • Maximum Customisation: Tailor data feeds to your exact needs – any source, any logic.

    • Superior Reliability via Aggregation: The first oracle aggregator for robust and accurate data.

    • Broadest Data Access: Unlock virtually any onchain or offchain data, not just price feeds.

    • Developer-First Approach: Easy-to-use data feed creation tools and excellent documentation for smooth integrations.

    • Unmatched Speed: On average, Switchboard data feeds are four times faster than the closest oracle competitor. This speed advantage is critical for applications demanding near real-time data updates.