Umbrella’s On Chain Data solution provides data feeds on-chain without the need to perform verification on the data validity or freshness.
Whenever the Umbrella Oracle detects a price has deviated outside of a set threshold, or it has to be refreshed on-chain, a new consensus round is initiated. All assets meeting the conditions at a given point are included in the consensus.
Umbrella's Validator Network then updates the data and verifies it through a consensus round. Once the correct information has been agreed upon, it is subsequently submitted to the blockchain.
A project’s smart contract can then read the data directly from the Umbrella Price Feed smart contract.
For those projects who have already developed an integration with another Oracle, Umbrella Network provides Reader smart contracts to allow an easy and seamless integration without requiring to apply changes to their smart contracts.
This allows for a fast, frictionless onboarding experience, with minimal changes to a data user’s smart contract, as well as avoiding any need to re-audit the code.
Updated 10 months ago