Umbrella Network — Technical Roadmap 2023

2023 is here and this year, Umbrella will keep on building to best position its oracle services in the market. We are happy to share our tech roadmap with you, a comprehensive plan outlining the development and implementation of new features of our oracle over the next few months. We will be focusing on improving efficiency and branding as well as executing on the result of our recent community votes. We are excited to share this plan with you and look forward to seeing the positive impact these improvements will have on our project.

January 2023

• Integrate Multichain architecture into Polygon, Arbitrum and Ethereum.

Complete the deployment of our Multichain smart contract to the rest of the blockchains Umbrella supports.

• Launch Revamped Umbrella Website,

Relaunching our website to better reflect the current mission and vision of our project.

• Transition ownership of Oracle smart contract to multisig,

Increasing the security of our smart contracts.

Feb 2023

• Improving consensus time,

Increasing efficiency.

• Launch rUMB2 conversion process,

All rUMB2 will be changeable for UMB 1 to 1.

• Convert rUMB program to UMB / Token burn,

Based on the most recent community vote, all new staking rewards moving forward will be distributed directly in UMB. Furthermore, 50 million UMB tokens will be burned, thus reducing the max total supply of UMB to less than 450 million.

Mar 2023

• Improve API Key management,

Upgrading system to allow additional monetization options for our solutions.

• Apply IP filtering for validators,

Increasing protection from DDos attacks.

2023 Q2 & Q3

• Improve leader selection mechanism,

Changes to the consensus mechanism to optimize output and block creation.

• Improving Sources of data,

Adding more data sources to further improve accuracy.

• Custom Request,

A new feature aimed at delivering data on-demand to smart contracts.

• RNG 2.0,

Using the Custom Request feature, random numbers will be available on-demand through version 2.0.

We are excited to see the progress and success of Umbrella’s oracle services as we work to implement these new features and improvements. This tech roadmap serves as a guide to ensure we are effectively executing on our goals and delivering the best possible service to our community. As this is an ongoing process, there may be additional changes, additions and subtractions to the roadmap, particularly for Q2 and Q3. We will be releasing additional updates as we approach those quarters with further details. Thank you for taking the time to review our tech roadmap and we look forward to keeping the community updated on our progress.

The Umbrella Team.

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.

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