Umbria’s Oracle System
Umbria’s Oracle System, Umbria Network enables anyone to migrate cryptocurrency assets across chain cheaply and quickly via its Narni bridge.
In the Web3 space, oracles connect blockchains to the off-chain physical world. This means decentralized apps (dApps) can access and interact with traditional external data sources and systems. This ultimately enables smart contracts to execute based upon this IRL information. Which can be anything from temperature and stock market data to football match results and flight details. Umbria’s Oracle System.
The Role of the Narni Bridge’s Oracle
Umbria’s bridge oracle determines the finality of transactions on the underlying networks’ blockchain (finality being the moment that a cryptocurrency transaction is guaranteed/final and cannot be cancelled, altered or reversed) and sends users’ funds to their chosen destination network from the liquidity pools.
It monitors activity on supported cryptocurrency networks by interfacing directly with multiple blockchain network nodes.
Security
The oracle for the Narni bridge inherits the cryptographic security of the underlying blockchain network as a consequence of listening exclusively to network activity and honouring the underlying network’s consensus mechanisms. It cannot be triggered externally and has no direct interface with users. The security of the bridge oracle is a consequence of its stand-alone architecture. It doesn’t accept messages from outside users, it simply watches transactions arrive on the cryptocurrency networks and takes the appropriate action to finalise the bridging transaction.
About Umbria Network
The Umbria Network bridge is a capital-efficient, multi-chain asset bridge which enables the cheap and fast migration of fungible assets between cryptocurrency networks. It uses a
novel liquidity provision protocol that greatly decreases the cost of transferring funds between chains in comparison to traditional validator-driven mint/burn, lock/unlock bridges.
