Switchboard, a customizable Oracle network, has introduced a new Oracle aggregator network with enhanced security features. This development aims to mitigate Oracle attacks, which resulted in $500 million in losses last year, up from $403.2 million in 2022. The new UI allows users to aggregate data from multiple Oracle networks, including Chainlink and Pyth, enhancing data feed reliability and customization for Web3 developers.

Switchboard's CEO, Chris Hermida, emphasized the importance of modularity and redundancy in boosting data security. The system uses Trusted Execution Environments (TEEs) to minimize additional operations and gas costs, ensuring efficient off-chain data aggregation. Launched in 2021, Switchboard has onboarded over 180k users and achieved a TVL of $1.7 billion.