Community Update #2: 8,000-TPS Testnet launched, the first DApp on the way
In this update, we are announcing several key development milestones for Umbala Network’s product, team and its community.
Dear Umbala Network Community,
Product Update
After four months of every relentless effort, Umbala team has accomplished some notable achievements in all three key products that Umbala Network has been trying to complete.
Firstly, Umbala Network Blockchain has gone from an infant stage to a certain level of maturity with some outstanding results. In deed, Umbala Network has launched a successful test-net blockchain with 45 nodes, TPS reached 8,000 and completed the “prestigious scoring system” for all accounts. At the same time, Umbala team also gradually completed all the paper including the Consensus Proposal and the report published in an investment seminar in Japan. The whole team is working so hard to successfully launch Umbala Network Blockchain Testnet in this April and aim to release Mainnet in June.
In addition, Umbala team has also made further strides in the period of relaunching Umbala.tv — the first product on ShopX Network, an Umbala Network-based blockchain protocol. From here, the team has completed the app. Along with that is the final conclusion about the UI / UX design of the application. Furthermore, Umbala.tv has been implemented with a fully functional application over the past 4 months.
Especially, Umbala team is rushing to launch the alpha version of Umbala.tv successfully in April with the goal of continuously increasing the number of data users in May and achieving the first revenue flow in June, 2019.
Moreover, the next major milestone for Umbala team is coming to the conclusion of the core product of StreamX — the livestream protocol based on Umbala Network’s blockchain platform. StreamX is being used in Umbala.tv app with the aim to achieve the first revenue in Q2 this year. Furthermore, the next major stage of development will focus on going further with StreamX through its goal of separating this protocol into a product for the live-streaming service market in Q3.
Community Development
Following the series of events at the end of 2018, there are dozens of outstanding activities of Umbala Network in the first quarter of 2019.
Umbala Network team has entered the new year through the presence in two technology conferences. The first one is the “Smart Technology for Smart Life” seminar on January 9 in Ho Chi Minh city organized by VnExpress in the awarding ceremony of “Tech Awards 2018”.
At this event, Mr. Nguyen Minh Thao — co-founder and CEO of Umbala Network had an impressive speech about the “Eye Vision Computing 4.0” economy.
With more than 8 years of experience in camera platforms, Thao described the whole landscape of the eye vision computing and made some predictions about its future. He believes that retailing, real estates and entertainment will first take advantage of applications of this technology.
Talking about the camera economy, Mr. Don Thao Nguyen said: “By 2022, the world will have 45 billion cameras, each person in the world will be covered by 5 cameras on average”.
In addition, when assessing the applicability in Vietnam, Umbala Network CEO also affirmed that Southeast Asia is one of the fastest growing areas in the world. There is also a young population and Vietnamese businesses need to grasp the opportunity to apply eye vision technology, create a competitive advantage in the market.”
The second event is Genesis C.A.T Meetup took place in Ho Chi Minh City on January 17. This event aims at connecting projects, venture capitals with community and potential investors in Vietnam.
In this event, the Community Manager of Umbala Network — Mr Jason Vuong Le, joined the panel discussion about developing DApps and share our approach to the problem. Jason was a former business columnist at CafeF and CafeBiz — two top-tier famous business outlet in Vietnam, a cryptocurrency writer, ICO investor, and Blockchain & Data Science enthusiast. With experience and a wide network in the Vietnamese crypto community, he brought interesting perspectives on the regional market to the discussion.
Talking about investment in blockchain projects and digital money, Genesis Group’s CEO Fengchi also said: “Many views show that the blockchain industry in Vietnam is ahead of the revolution.”
On February 21, CEO Don Thao Nguyen attended the panel discussion in VIETNAM CLOUD & DATACENTER CONVENTION 2019 held in Hanoi and organized by Vietnam Internet Association. Along with high-profile speakers, CEO of Umbala Network, Mr. Don Thao Nguyen discussed “Data Center Design and Operation”, especially the leading technology trends and predictions about generation data centers. Besides, this topic was also related to the key product that Umbala team is developing called StreamX — live stream video protocol.
Most recently, Umbala Network’s CEO also contributed to the discussion panel of the conference Vietnam the 4th Global Chain — Vietnam Blockchain Day 2019 took place in Hanoi on April 7.
This is one of the most anticipated events on the topic of the Industrial Revolution 4.0 with the connection of Blockchain technology. The event brought conclusions about the trend of Blockchain technology and the cryptocurrency market in the coming time.
Umbala Team
Along with the development of core products and community development, Umbala team also strives to build a strong team of employees associated with the company’s culture. Specifically, in the past 4 months, the HR department has expanded the number of staff nearly three times (16 employees in January 2019 to 41 employees in April 2019).
At the same time, the HR department also build and develop a Business Team in order to relaunch Umbala.tv app. Strategically, with the culture of promoting the training for long-term development, Umbala Network constantly invests and develops the IT team. They are the very core members, focus on the long-term development of the company and help the company obtain more brilliant achievements in the future. The HR team also expect to expand the labour force as strong as possible further in the future as we spend more effort on developing Umbala Network Blockchain, and as we move closer to the completion of key primitive products such as ShopX Network, StreamX Protocol, etc.
The above is the latest update about every outstanding performance of Umbala Network in the first quarter of the year so as to achieve the first important goals in this promising year. Hopefully, in the next update, Umbala Network will be delighted to announce more milestones genuinely achieved.
We’d like to thank everyone that has come out to show support for the team. Any technical question or other support, feel free to ask us or DM admins on Umbala Network Community on Telegram.
More info on Umbala Network:
Website: http://umbala.network
Telegram: https://t.me/UmbalaNetwork
Twitter: https://twitter.com/UmbalaNetwork
Facebook: http://fb.com/UmbalaNetwork
Medium: https://medium.com/umbalanetwork
