The Cyptobit team comprises talents from different fields of the digital world, ranging from data science, project operation, and full-stack development to cryptocurrency, early adopters, and evangelists. This team believes it is a group of strong exponents of reforming the status quo and making substantial contributions that can propel us into the next stage of data feeding, data exchange, and data analytics.
Although networks and web3 middlewares altogether have become an area of high interest in the blockchain world, and many projects have been working on the issue, our team finds that from a practical perspective, and through a number of people in our network that have explored integrating them or others, they find the price feed queries too expensive. Indeed, quite a few projects we are aware of just decided to use centralized data feeds, and this applies generally to on-chain feeding of data, especially to the growing number of web3 middlewares scaling the potentials of the technology.
Although there’s a growing demand for web3 middlewares to level the transaction costs, quicken transactions speed, avert on-chain congestion etcetera, there is ample room for a data framework to meet the needs of this web3 middleware.
Cyptobit seeks to create a modular and configurable data framework such that the democratization of the data management is possible via a multi-level network data agglomeration for balance, security, authenticity, persistence & speed. Additionally, we believe that via best blockchain we can ensure a cost-effective solution that data consumers and Dapp Builders will actually use over centralized sources.