The first half of the year was amazing for Umbrella Network. Milestones reached from January to June included partnership with Knit Finance, Klever Finance, Kommunitas, Flagship and Autobahn Network,among many others. Apart from the partnerships, Umbrella Network developed the Passport Beta, a new product that enables dApps to easily access Layer 2 data as easily as they access the First-Class data.
The Umbrella Network team further worked towards getting the network live on the Solana Mainnet and Arbitrum Mainnet, while also announcing the integration of UniSwap into their pricing feeds.
A whole lot happened in the first half, including the technical aspect of the network.
Tech update; The Back End and Validator code was cleaned up and readme files were transitioned to open-source.
-Created script for exporting data points
-Fixed bug in Back End for Solana’s chain information.
-Concluded the cleanup of the Developer’s Portal code to transition to open-source
Milestone reached in July
In July, the Umbrella Network team came back with amazing improvements and updates ranging from partnerships to product adoption, tech update and community advancement.
At the beginning of the month, the team proposed to; Bridge for AVAX, deploy Passport to AVAX, establish the DAO council; including Multisig wallet, complete audit of smart contracts and start work on Multichain solution. Towards the end of the month, most of these were achieved with additional tech updates.
At the end of the month, Umbrella Network started work on Multichain solution, concluded audit of smart contracts, successfully deployed Passport to AVAX and started working towards making a Bridge for AVAX and the establishment of the DAO Council.
Additional updates included, updating the team section on the main website, changing the way data is consumed from Ethereum nodes and finally, automating restart of Back End services.
The Umbrella Network keeps improving every month and the month of August wasn’t left behind.
The roadmap for August as announced by the team had the following;
-Revision, implementation and deployment of the Passport pricing function,
Multichain solution in test environment
-Open Source; setting up new repos, deploying the code on the repos, configuration and setting up change tracking and version control,
About Umbrella Network
The Umbrella Network is a decentralized community-owned oracle service that is aimed at providing scalable, low cost and secured data solutions for smart contracts.
With this network, blockchain project developers have access to over 4,000 data pairs, data that was previously unavailable to them.
The scalability and cost-effectiveness feature of this network is as a result of its decentralization nodes being built with Layer 2 Merkle Trees. The Layer 2 Merkle Trees is a solution that helps to bundle numerous (thousands) data pairs into a single transaction. By doing this, the cost of pulling out data is greatly reduced while scalability is increased.
Also, apart from the fact that the collection of data is from several sources to measure the most accurate prices, Umbrella Network operates across a wide network of community validators to confirm the accuracy of data.
Finally, the Umbrella Network is not under the control of a centralized party. It is decentralized and much more, how the network is operated is governed by the community of stakers, developers, validators and the foundation.
Visit the following links to learn more about the Umbrella Network: