Umbrella Network
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Umbrella Network

Umbrella goes Multichain

The Multichain smart contract is live on the BNB Chain.

Blockchain technology is still in its early stages. Many blockchains have been created and many others are still in their building phase. In these development years it has been clear that all chains have their strengths and weaknesses. Some of them seem to be leading the race, whilst others are catching up.

No one knows how the industry will look like in 2 years from now.

But one thing is clear: Umbrella believes in diversity and decentralization. Therefore, we aim to support as many blockchains as possible and make data available on all of them. Understanding that each blockchain has its own specifications and native features, we decided to improve our oracle and develop a Multichain solution.

This latest iteration is now live on BNB Chain and will be deployed on all other chains over the coming weeks.

Advantages of Umbrella’s Multichain Solution.

Umbrella’s new Multichain approach improves oracle reliability by removing dependency on the home chain, which up until now was BNB Chain.

With our new Multichain solution, our oracle services can be tailored to the needs of each underlying blockchain.

In order to create top-notch Web3 dApps, projects need two things: security and up-to-date data.

Umbrella’s network of independent validators will now be able to increase frequency on each blockchain independently and meet these two requirements.

Umbrella’s other advantages in providing scalable and affordable data will continue to remain intact.

Thanks to its Merkle Tree architecture, a potentially unlimited amount of data can be made available on-chain at a fraction of the cost compared to current market competitors.

Today no blockchain is fit for all purposes, dApps are built on the chain offering the features they need.

In fact, each L1 and L2 seems to suit specific verticals. Umbrella aims to provide the most accurate and diverse data on all chains to fuel Web3 innovation and help shape the decentralized future.

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. It believes a decentralized oracle is paramount to creating a truly decentralized financial space.

Follow Umbrella Network on:

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If you’re interested in becoming an Umbrella Network Partner, sign up here.

To add your token to our L2D, click here.

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Umbrella Network is a decentralized oracle for dApps to get data across different blockchains, at the lowest price, for 1800+ data pairs, with the most frequently updated data. Our other products include — Bridge, Options Pricing Data, Staking Portal, and more!

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