An Insight Into the Architecture Behind Umbrella Network
In the blockchain industry, it is sometimes difficult to find a truly decentralized oracle. And that is why Umbrella Network is highly committed to being the first oracle to adhere to the true form of a centralized oracle service. They provide adequately scalable, safe, and low-cost solutions for smart contracts; an achievement that no other ecosystem or network has been able to attain.
If this article is your first encounter with Umbrella Network, here is why you should use this network. They offer blockchain developers easy access to data that was formerly unavailable. And they do this at compared to the competition. The volume of data offered is also more than that of any other oracle at 3000+ data pairs.
Using Layer 2 Merkle Trees, the centralized nodes at Umbrella are created, serving as solutions for compiling tons of data pairs into one transaction. Gathering data feeds from different sources, Umbrella calculates only accurate prices and it only gets better. This project runs across a brilliant network of validators of the community to ensure that all data is verified.
All this background information is to give you a clear picture of where we are coming from when we expatiate on the architecture behind Umbrella Network. To anchor data to the Layer1 Network and verify that the oracle is scalable and data points cryptographically verifiable, Umbrella Network makes the most of Merkle trees.
Umbrella Network in one fell swoop solves one of the core problems with the average oracle solution. Because most oracles have all their transmission, storage, and logic on Layer, costs are up to the roof after usage as data points are processed as different transactions.
A good instance to site here is Ethereum and Bitcoin, the largest Layer 1 Networks out there. Yet the highest volume of transactions per second that they can take is 20. Oracles cannot be concise on only Layer-1 due to the minimal transaction throughput.
Umbrella saves the day by utilizing Layer-2 architecture to scale its oracles. What this does is that it makes oracles at Umbrella Network cryptographically safe, faster, and more genuine. Umbrella’s decentralized oracles also provide concise data points for less than what you would find with a Layer-1 transaction.
Let’s break down these high points of Layer-2
Affordable: This feature guarantees that data is at the very least 1/20th of the cost presented on Layer-1. Costs are also reduced by processing transactions in batches.
Genuine: With Umbrella’s solid consensus infrastructure, validators can determine the originality of data, and rewards slashing ensures that validators are particular about being correct.
Cryptographically Verifiable: To establish credibility, all data points are attached with cryptographic proof to discourage tampering. This includes after it has been accepted by smart contracts.
Precise: With fewer costs and more speed, data points at Umbrella Network can be processed more regularly, allowing data from Umbrella to stay updated and cover mid-tail/long-tail data points.
About Umbrella Network
Umbrella Network is a scalable, decentralized, and community-owned oracle that utilizes Layer 2 technology to integrate real-time data into smart contracts for accurate and timely reports. Umbrella Network brings the world’s data to blockchains to enable DeFi applications to perform at the optimum level regarding precise information dissemination.
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