Umbrella Network — Updated Roadmap 2024
Hello, Umbrella Network Community! 👋
As we continue building, we’re excited to update you on the significant progress we’ve made on our roadmap and the strategic pivots we’ve planned for the upcoming months.
Q1- Q2 2024 Progress: Achievements and Milestones
We’ve started the year strong, making progress in several critical areas. On the business side, our commitment to expanding and integrating into new ecosystems has successfully led to the rollout of on-chain data on Concordium, Massa, and Rootstock. These expansions not only broaden our reach but also bolster our ability to deliver our data across diverse blockchains.
On the engineering front, our team has focused on continuing to diversify our data sources and made significant advancements in developing automation tools for our Oracle operations.
Q3 2024 — Introducing Umbrella’s Data Layer
A pivotal addition to our 2024 roadmap is the introduction of a new Data Layer solution which will now incorporate some of the additional features we had originally planned including the On-Demand Data Solution.
Umbrella’s Data Layer (UDL) is an advanced solution designed to provide decentralized applications (dApps) with a wide range of data almost instantaneously, effectively eliminating traditional data accessibility and latency challenges. The UDL will allow users to build customizable and composable data streams on demand, including being able to pick the data sources they want, create the data feed they need, and access it when they need it.
This layer will integrate smoothly with our existing oracle solutions, creating a comprehensive ecosystem that will support a diversity of data requests, including on-demand. This integration will also significantly boost scalability and efficiency across our network and will adapt more effectively to the diverse needs of projects and developers, promoting a more agile and robust infrastructure.
Here is the breakdown of the individual milestones for Umbrella’s Data Layer:
- Umbrella Data Layer (UDL);
- Decouple Data fetching and data pushing;
- Deployment of Data Layer infrastructure including data repository;
- Data Layer Front End including On chain data explorer;
- Develop and deploy On-Demand data;
- Develop and deploy Random Number Generator v2.
Looking Ahead
As we continue building, our focus for the rest of the year will also include:
- Update our consensus mechanism to enhance network robustness, security, and efficiency.
- Development and deployment of a new Validator Dashboard . This interface will provide a clearer visualization of the activities performed by our decentralized validator network, adding an additional layer of transparency and trust.
- Additionally, we are set to develop and deploy our Random Number Generator version 2.0. This upgraded RNG will leverage a Verifiable Random Function (VRF) to generate random numbers off-chain, which are then pushed on-chain, available on demand.
Each of these developments is a step forward in our mission to provide more robust, secure, and efficient data to Web3. With many key product innovations in the pipeline, we look to play a key role in the DeFi and Oracle space in 2024 and beyond.
Stay tuned for more updates in the coming weeks and months!
Onwards and upwards.
About Umbrella Network
Umbrella Network, is a decentralized oracle service that provides blockchain projects with secure, scalable, and customizable data solutions.
Umbrella offers smart contracts a broad suite of solutions, whether it is high frequency pricing updates, aggregating large volumes of data at scale, or providing tailored price feeds for specific needs. Secured by a network of decentralized community validators, Umbrella can provide any data that you need when you need it.
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