Umbrella Network
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Umbrella Network

Umbrella Network Announces First Milestone for rUMB to UMB Conversion

Achievement 1 will be hit when 40MM data points are written on a single chain on any 7 consecutive days

As of writing, over 1,800 data pairs are getting written onto the Blockchain at the rate of once every hour on Ethereum, and every 2 minutes on BSC.

So a rough approximation today is that about 300,000+ data points are being written weekly on Ethereum, and about 9MM+ weekly on BSC. Achievement 1 will be hit when that figure reaches 40MM on a single chain on any 7 consecutive days.

UMB and rUMB tokens

The UMB token serves as the lifeblood of Umbrella Network’s decentralized oracles and is used to stake and validate data. UMBs are exchange tradable cryptocurrencies that are currently available as ERC20 and BEP20 variants across multiple centralized and decentralized exchanges including KuCoin, Poloniex, Uniswap, Pancakeswap, and others.

First-Class Data and Layer-2 Data

Umbrella Network distinguishes its data points into two categories:

  1. Layer-2 Data — is our richer data set that we aggregate on Layer 2 that is then anchored to one of our supported Layer-1 blockchains

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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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