Umbrella Network
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Umbrella Network

Umbrella Network Launches Passport Beta on Mainnet

Umbrella Network is pleased to announce the launch of our Passport solution across all supported mainnets. This will make the thousands of data pairs added as Layer-2 data on our decentralized oracles more easily accessible and readily available, directly into smart contracts of all supported blockchains (namely Ethereum, Arbitrum, Polygon, Avalanche, and Binance Smart Chain at the time of writing)

Umbrella Network Announces Passport Beta

TL;DR

  • Umbrella Network has launched Passport Beta
  • Passport Beta is an optimized, pre-built, and cost-effective solution for customer dApps to receive Umbrella’s Layer 2 Data directly into their smart contracts without having to add additional functionality to their smart contracts to fetch the information
  • Passport ensures that customer smart contracts receive more reliable data feeds without the need for customer dApps to build their own off-chain workers

Umbrella Network has launched the Passport Beta and has lowered the technical requirements bar for dApps looking to receive thousands of Layer-2 data points directly into their smart contracts.

This is expected to be a shot in the arm for the DeFi industry as it enables dApps to receive data on not just the popularly requested data points (which other decentralized oracles also provide), but practically any data point. From pricing data to weather stats, from gaming averages to complex numbers, Umbrella Network’s Layer-2 data offers all sorts of data that no other decentralized oracle is able to provide.

Passport Beta automates the series of steps that dApps (up until now) had to undertake to be able to get authenticated data feeds (via decentralized oracles). With Passport, layer-2 data becomes available on-chain and can be served directly into smart contracts — in a more cost-effective and more reliable way than any 3rd party or in-house solution.

Understanding The Need for Passport at Umbrella Network’s Decentralized Oracles

Umbrella Network is the largest decentralized oracle by transaction volume. With over 3,500 data feeds across 5 different blockchain networks, we offer more data than any other oracle in the market.

By comparison, other oracles offer only a few hundred data feeds, primarily due to the exorbitant GAS costs they encounter writing the data on-chain.

Umbrella Network solves this problem by batch processing thousands of data points as one blockchain transaction — saving massively on GAS costs while offering data feeds that include mid-cap and small-cap cryptocurrencies that are usually the most vulnerable to price oracle attacks.

These batch-processed data points (thousands of data points grouped into one transaction via our Merkle Tree architecture) are called Layer-2 data in the Umbrella Network ecosystem.

When a dApp needs to get this Layer-2 data into their smart contracts, they must:

  • Get the data and the Merkle proof via API off-chain
  • Verify the Merkle Proof for authenticity
  • Bring that data on-chain to use in their smart contract, which will incur gas fees

Passport takes these three steps and converts them into an automated service!!

Thus, just as you don’t really need a glassnode to find on-chain market intelligence but appreciate the ease, similarly, Passport makes it easier for dApps to receive data delivered directly into their smart contracts without having to write additional code.

The cost-effectiveness and ease of access for dApp developers to access L2 data on-chain is improved significantly. Instead of a user having to figure out (and deploy an off-chain worker) to fetch data, we can now deliver it directly into their smart contract.

How dApps Fetched Umbrella Network’s Layer-2 Data Without Passport

The customer’s smart contract would deploy an off-chain worker to get the key (in bytes), value (in bytes), and hash via APIs from our Block Explorer:

To ensure the authenticity of the data, the customer’s smart contract would call the verifyProof function on the Umbrella Network’s chain contract. Once verified, the data can then be used by the customer’s smart contract on-chain in any manner they see fit.

Shown below is the technical representation of the workflow:

How Layer-2 Data is received without Passport Beta

At the code level, a dApp would need to have the following lines of code to do this properly.

Here’s how one can fetch L2D (GitHub Link)

Here’s how verified data is delivered to a smart contract (GitHub link)

However, the Web3 space is so nascent that mistakes can be made, causing dApps to malfunction or even cause monetary losses.

It is for this reason that Umbrella Network decided to make a solution — Passport Beta that does all of the above — seamlessly!!

With Umbrella Network’s Passport Beta, dApps can choose to directly receive data into their smart contracts.

Building your own off-chain worker could end up being costlier less efficient, and incur more GAS fees

Passport Beta, on the other hand, is pre-built, more optimized, accurate, and costs significantly lesser by comparison

The Passport Beta Technical Architecture

Passport essentially sits atop the Umbrella Network decentralized oracle and gets activated when approved by a decentralized application’s smart contract.

Once approved, the Passport APIs follow the steps explained in the previous section and deliver the value (in bytes) directly to the smart contract.

A technical architecture diagram is given below for reference:

(Umbrella Network Passport Beta — Technical Architecture)

The Passport Beta is a lightweight solution that simply:

  • Gets approved to send Merkle Proof of desired data point to receive function of dApp smart contract and receive a boolean response (True/False)
  • If True, Passport Beta sends the key and value data pairs to the dApp smart contract

Why Should Decentralized Applications Use Umbrella Network and Passport?

Passport Beta offers:

  • Lesser on-chain activity for dApp smart contracts
  • Automated verification of Merkle Proof
  • Lower cost of receiving Layer-2 data on-chain
  • Greater reliability

And ensures that:

  • Your data is authenticated and always-fresh
  • Your data needs are met via a decentralized and more robust solution
  • There are no intermediaries — data is delivered by Passport Beta directly into your smart contract
  • You can customize the frequency of the deliveries of data

How To Get Your Smart Contract to Receive Data from Umbrella Network’s Decentralized Oracles and Passport Beta?

Here’s the technical documentation that your smart contract will need to implement to get it to correctly receive layer-2 data from Umbrella Network’s decentralized oracles via Passport.

Check out the Passport API here.

Alternatively, you can write to us at jb@umb.network, our Head of BD, and Strategic Partnerships to set up a call walkthrough to help you navigate to the correct path.

Else, you can always join our Discord server and directly speak to our team which shall be happy to answer your questions.

Follow Umbrella Network for the latest tech and product updates and announcements:

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

To add your token as FCD or L2D, click here.

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