Existing Problems

The Web3 Data Chasm Blockchains are designed to maintain truth inside of its often deterministic walled garden. This is where its security strength lies, in its isolation. However, the applications o

Inaccessible / Expensive Off-chain Data Querying Services & Analytics

The technical overhead and network costs associated with networks built on Ethereum are significant limiting factors. These costs often outweigh the benefits of using the network, narrowing its potential applications. As a result, most network applications are limited to DeFi and exchange price feeds. Other types of data feeds are often restricted before they can find practical uses, making them inaccessible for potentially transformative applications due to their high costs.

Chain-Specific & Unscalable Data Feeds

If the cost barrier can be overcome, it would be highly advantageous to have a validated Data feed that can be streamed across multiple chains, making it chain-agnostic. However, current data feeds are mostly only compatible with a single chain due to the nature of the blockchain on which the solution was built, which also affects its ability to handle queries efficiently.

Centralized Data Feeding Networks

The issue of relying on centralized sources for data is at the heart of the problem with networks. The purpose of distributed systems is defeated if they ultimately depend on centralized sources for data. Unfortunately, this is currently the case. "Decentralized" networks are often controlled by a central authority that can influence network decisions and data feeds, or they may be somewhat interdependent. It's not uncommon to see DeFi protocols fetching price feeds from centralized exchanges that are unknowingly dependent on each other through APIs.

Non-synergistic Middleware Data Framework

The development of Web3 technology presents a multitude of opportunities, prompting several companies to deploy solutions to solve various problems. However, this is often done without coordination or adherence to standards. As a result, solutions that address different aspects of the problem do not fit together seamlessly or synergize with preceding solutions. They do not resemble "money legos," as DeFi solutions do, due to their compatibility. This hinders the collective development of this web iteration toward widespread adoption.

Dev-Unfriendly Data Validation Layer

In addition to the compatibility issues, working with current solutions to build dApps is not straightforward. Implementing Web3 middleware is already challenging, and not all developers are equipped to integrate them into their projects, even when necessary. There is a need for a higher level of abstraction to level the playing field for developers, enabling them to easily implement and build real-world solutions.