Umbrella Network: Why We Need Oracles

What are decentralized oracles?

These are entities that link a blockchain network to the world outside. With oracles, smart contracts get access to a variety of off-chain information by entering all data input using an outside transaction. However, bringing in one source for all real-world data to smart contracts has been a thorn in the side of the crypto industry for quite a long time due to its high risk and conflict with the principles of blockchain technology.

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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