Intro to On-Chain Data

Due to the high transaction fees associated with certain blockchains, it becomes impractical to consistently write data on-chain at a high-frequency. Consequently, many projects opt to write or receive data on-chain only when certain conditions are met.

Typically, prices are written on-chain only when a certain % deviation is observed in a price (deviation threshold) or the price automatically updates after a certain period of time (heartbeat).

Umbrella’s On Chain Data solution was created to address these specific issues.