Umbrella Network Announces Partnership with VAIOT
Umbrella Network is delighted to announce a partnership with VAIOT, a blockchain-based platform that offers a portfolio of virtual AI Assistants for businesses and consumers to provide faster, easier, and affordable automated services and transactions.
Under this partnership, Umbrella will be adding VAIOT’s token price feed to its roster of pricing data, and providing that back to VAIOT’s platform. Additional custom data feeds to support the off-chain data needs of VAIOT’s Intelligent Sales and Broker platforms will also be explored, given Umbrella’s capabilities to easily onboard new data sources.
Umbrella Network is one of the first truly decentralized oracles for the DeFi market. It is a community-owned Layer-2 data oracle service, providing secure and massively scalable data solutions to the DeFi ecosystem, at the lowest cost possible and helping users access a wider variety of data across multiple segments.
The scalability issues in oracles are solved by the Umbrella Network by utilizing Merkle trees for batching transactions. Merkle trees are used to aggregate the data, allowing multiple transactions to bundle up into a single transaction, and for a single fee.
VAIOT combines AI and Blockchain to develop a portfolio of business-oriented Intelligent Virtual Assistants serving both, consumers and business as a new, digital channel for selling and delivering products and services as well as making transactions.
AI and Blockchain are inseparably linked in VAIOT’s proprietary distributed network concept, with AI algorithms settled on-chain. Blockchain confirms that every network participant is certain about the decisions made by AI and ensures that it cannot be manipulated from outside of the network.
Umbrella Network Partner Sam Kim said,
“We are very much looking forward to enriching the capabilities of VAIOT’s unique AI-based solutions by providing them with secure and scalable data oracles. In addition to adding VAIOT’s token price feed into our roster of pricing data, we plan to support additional custom data needs of their AI solutions. We are excited to collaborate with VAIOT and combine our technology sets together to build the next generation of blockchain applications.”
Speaking on the partnership, VAIOT’s Co-founder Michal Szachno said,
“We’re looking forward to working with the Umbrella team. As our suite of AI assistant solutions evolve, so will our off-chain data needs, and we believe that Umbrella is well positioned to be able to support our growth development as we join forces to continue innovations within the blockchain industry.”
About Umbrella Network
Umbrella Network is a scalable, cost-efficient, and community-owned oracle for the DeFi and blockchain community. Its Layer 2 technology uses the latest advances in Merkle tree technology to write multiple data points on a single on-chain transaction, allowing for the batching of data to smart contracts accurately, securely, and inexpensively. Umbrella believes a community-owned oracle is not only possible but essential to creating a truly decentralized financial system.
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About VAIOT
VAIOT develops purpose-built virtual assistants powered by AI and blockchain technology. Any product or service sold or delivered digitally can use VAIOT’s tech to be handled by a dedicated AI virtual assistant, accessed by customers via a simple mobile application. VAIOT ultimately plans to take a smart personal assistant concept and combine it with lawyers’ unique skill set and knowledge. The company aims to build an AI legal assistant for consumers and enterprises, providing legal services, including digital, blockchain-based contracts.
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