Witnet Foundation
Witnet Foundation is a Madrid-based non-profit that stewards the Witnet Protocol, an open-source decentralized oracle network providing tamper-resistant real-world data to smart contracts and dApps, released under a CC0 license.
- Company typePrivate
- Founded2017
- HeadquartersMadrid, Spain
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Witnet Foundation does
Witnet Foundation is a non-profit organization headquartered in Madrid, Spain, founded in 2017, that stewards the Witnet protocol and broader Web3 ecosystem. Its mission centers on fostering research and development of technologies that enhance the decentralization of communications and financial infrastructure, with stated interest in expanding individual freedom within digital systems.
The Foundation's sole product is the Witnet Protocol, a decentralized oracle network that enables independently operated computers to collaborate in retrieving and aggregating external data and delivering it to smart contract systems in a tamper-resistant manner. The protocol is described as a "next-generation" oracle that leverages state-of-the-art cryptographic and cryptoeconomic techniques. It targets smart contract developers and dApp projects that require secure, reliable real-world data inputs, addressing the problem that smart contracts without a trustworthy oracle are vulnerable to hacks, corruption, and monetary loss. The protocol is positioned as horizontal infrastructure for any blockchain-based application needing external data.
The Foundation operates as a non-commercial steward rather than a revenue-generating business. The Witnet protocol is released under the CC0 Creative Commons License, which waives all copyright rights and precludes any licensing-based monetization. No pricing model, customer contracts, or revenue figures are publicly disclosed, and the only known funding event is a ~$1.07M round in March 2018 with undisclosed investors. With 11-50 employees and no visible monetization mechanism, the Foundation appears to function on grants, donations, or community funding rather than commercial revenue.
Witnet Foundation firmographics
Firmographics- Name
- Witnet Foundation
- Legal name
- Witnet Foundation
- Website
- https://witnet.foundation
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Witnet Foundation is a Madrid-based non-profit that stewards the Witnet Protocol, an open-source decentralized oracle network providing tamper-resistant real-world data to smart contracts and dApps, released under a CC0 license.
- Ownership category
- akta.pro rank
Witnet Foundation industry classification
Industry- Product category
- Decentralized Oracle Protocol
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- akta.pro primary industry
- Oracle Networks & Off-Chain Data (price feeds, randomness, attestation) (FSAPABAE)
- akta.pro secondary industries
- Oracle Node Operators & Data Provider Networks (FSADAKAH), Smart Contract Execution Environments (EVM/WASM, runtimes, precompiles) (FSAPABAA)
Keywords
Where Witnet Foundation is headquartered
LocationHeadquarters
- HQ city
- Madrid
- HQ country
- Spain
- HQ region
- Europe
Markets served
Witnet Foundation business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations
Witnet Foundation product offering
Product offeringCore offering
Witnet Foundation develops and stewards the Witnet Protocol, a decentralized oracle network that enables independently operated computers to securely retrieve and aggregate real-world data and deliver it to smart contracts in a tamper-resistant way. The protocol uses state-of-the-art cryptographic and cryptoeconomic techniques to protect smart contracts from hacks, corruption, and monetary loss caused by unreliable or missing external data sources. The protocol is released as open-source under a CC0 Creative Commons License.
Product overview
Witnet Foundation offers a single unified product: the Witnet Protocol, a decentralized oracle network. This protocol leverages state-of-the-art cryptographic and cryptoeconomic techniques to provide smart contracts with secure data input from the real world.
Differentiator
Problem solved
Functional benefit
Products and services
- Witnet Protocol A decentralized oracle network protocol that enables independently operated computers to collaborate in retrieving and aggregating data securely and providing it to smart contract systems in a tamper-resistant way. It leverages state-of-the-art cryptographic and cryptoeconomic techniques and is released as open-source software under a CC0 Creative Commons License for use by smart contract developers and dApp projects.
Companies that use Witnet Foundation
Customer profileSegments1 record
Ideal customer profiles1 record
Witnet Foundation technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Witnet Foundation partnerships and signals
Strategic signalRecent moves3 records
Witnet Foundation competitors and assessment
Company assessmentMarket position
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Witnet Foundation social profiles
Digital presenceWitnet Foundation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Witnet Foundation leadership team
Management profileNumber of profiles
Witnet Foundation funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Witnet Foundation M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Witnet Foundation
What does Witnet Foundation do?
Witnet Foundation develops and stewards the Witnet Protocol, a decentralized oracle network that enables independently operated computers to securely retrieve and aggregate real-world data and deliver it to smart contracts in a tamper-resistant way. The protocol uses state-of-the-art cryptographic and cryptoeconomic techniques to protect smart contracts from hacks, corruption, and monetary loss caused by unreliable or missing external data sources. The protocol is released as open-source under a CC0 Creative Commons License.
Is Witnet Foundation a public or private company?
Witnet Foundation is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Witnet Foundation founded?
Witnet Foundation was founded in 2017. It employs 11 to 50 people.
Where is Witnet Foundation based?
Witnet Foundation is headquartered in Madrid, Spain, in the Europe region.
Does Witnet Foundation have an API?
No public API is recorded for Witnet Foundation.
What industry is Witnet Foundation in?
Witnet Foundation's product category is Decentralized Oracle Protocol. Its primary akta.pro industry code is FSAPABAE, Oracle Networks & Off-Chain Data (price feeds, randomness, attestation), with a secondary code of FSADAKAH, Oracle Node Operators & Data Provider Networks. Its NAICS code is 522320.