Umbrella Network Weekly Recap | Week of June 7th, 2021
Umbrella Network introduced Weekly Recap for week of June 7th, 2021.
Their primary focus this past week has been around final testing and preparation. The engineering team has been hard at work updating additional data pairs into our Layer 2 Data for upcoming partnerships, as well as fixing various bugs in the system.
Additionally, they have been doing work in improving Block Explorer, including adding timestamps to First Class Data and L2 Data details as well as fixing some bugs affecting filtering included in the URL.
Their staking portal is also undergoing some final patches as they addressed various issues around several bugs that were preventing users from staking their tokens.
They have also been working on cross chain messaging between BSC and Ethereum as they prepare for cross chain interoperability, so stay tuned for more developments on that front.
Thanks for all of the members of the community who have applied to be a validator on BSC. They have received your applications and have started to shortlist and process them. They expect to start onboarding the first cohort of community validators next week, which will be another major milestone as they move towards decentralization.
In other news, they received some positive coverage from That Martini Guy on Youtube, so in case you missed that, you can find the clip here. They are mentioned at approximately 13:26 into the video.
They will also be releasing some tutorial videos on how to use Block Explorer to find and verify data. The first video in the series was released earlier this past week on youtube channel here, so check it out if you haven’t done so already.
And finally, for those of you that are interested to learn a bit more about Flash Loans, they released a primer on that recently that goes into the details of what they are, how flash loan attacks are done, and how using decentralized oracles can help to mitigate some of those risks. As they approach mainnet, it is important for them as a decentralized oracle project to work with others in the ecosystem to help protect users from these types of exploits, and to make DeFi a safer environment for further innovation and growth.
What is Umbrella Network?
Umbrella Network is a scalable, cost-efficient, and community-owned oracle for the DeFi and blockchain community. Its Layer-2 technology uses the latest advances in Merkle tree technology to write multiple data points on a single on-chain transaction, allowing for the batching of data to smart contracts accurately, securely, and inexpensively.
Umbrella Network believes a community-owned oracle is not only possible but essential to creating a truly decentralized financial system. The community-owned Oracle solution offered by Umbrella Network furnishes DApp developers with major key pairs, real-world financial data along with core, mid and long-tail pairs.
📰 INFO:
https://medium.com/umbrella-network/umbrella-network-weekly-recap-week-of-june-7th-2021-536caf9356dc
