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Umbrella Network is a decentralized oracle service that provides blockchain projects with secure, scalable, and customizable data solutions.
The service leverages a network of decentralized community validators to ensure the reliability of the oracle data.
Umbrella Network provides three data consumption options: on-chain data, layer 2 data, and on-demand data.
Retrieve data feeds directly on-chain. Projects can define parameters such as deviation triggers and heartbeat to manage the frequency and precision of the updates. This is the simplest and most straightforward approach for reading data.
Read data feeds off-chain and verify them on-chain to ensure secure utilization within your dApp. Prices are regularly updated off-chain at a predefined frequency, and web3 apps fetch this data when needed and submit it on-chain. This approach is particularly advantageous when your project necessitates handling large volumes of data, as storing it entirely on-chain would be cost-prohibitive.
On-demand data fetching planned for Q3 2023.
The official technical documentation can be found here.
In case your project requires a custom feed, please contact the Umbrella team here.