Umbrella Network adds DEAPCoin tokens as Layer-two information on their decentralized oracle. Umbrella Network is pleased to carry on expanding cross-chain performance as a result of a new partnership with PlayMining, a international GameFi and NFT enjoyment corporation.
DEAPCoin asset pricing information will be offered to dApps by means of good contracts thanks to Umbrella Network’s decentralized oracle.
What is DEAPCoin?
DEAPCoin is the cryptocurrency that powers the PlayMining ecosystem, a platform that brings with each other crypto video games, NFTs and DeFi factors by means of DEAPCoin.
From April 2020 to December 2021, the creators of the platform earned above one billion yen. The ecosystem now has additional than two.two million registered end users.
What is Umbrella Network Layer two Data?
Umbrella Network divides additional than 1800 enormous information pairs into two groups:
- First Class Data: Includes trading pairs prevalent to all Blockchain dApp developers supported by Umbrella Network.
- Tier two information: These are comprehensive datasets (this kind of as selection pricing information) of not only well-known pairs, but also mid- and tiny-cap cryptocurrencies.
Why are Umbrella Network and PlayMining collaborating?
The DEAPcoin-led PlayMining platform features quite a few cryptocurrency-based mostly video games, this kind of as Lucky Farmer, JobTribes (a trading card fighting game), and PlayMining Puzzle.
There is also an NFT marketplace, in which end users can bid on digital merchandise and meet additional than 70 of Japan’s most well-known manga and anime artists. Umbrella Network will assistance the cost feed and PlayMining will also be accountable for organizing essential occasions on the platform.
All NFT video games and platforms usually need the most up-to-date and precise DEAPCoin pricing. Because at any provided minute, the cost on the PlayMining ecosystem and the cost on the open market place are unique, the arbitrage possibility will seem and other forces will be capable to get benefit of it and assault and earn hundreds of thousands of bucks.
Thanks to the partnership with Umbrella Network, the DEAPCoin cost will usually be up to date and can be invoked by dApp good contracts immediately from the Blockchain, with out intermediaries and with out the chance of MITM attacks.
Another function of this partnership is that DEAPCoin’s pricing information will be offered in L2D, which in a sense will incentivize additional dApps to electrical power their ecosystem by means of DEAPCoin.
How does Umbrella Network update information so usually on Blockchain? Is it a sustainable model?
Umbrella Network handles the highest transaction volume of any decentralized organization in the globe. The venture will assistance above 1800 pairs of information up to date just about every twenty minutes on BSC and Polygon and just about every hour on ETH and Avalanche.
And the Gasoline charges? Who will spend this element?
Umbrella Network architecture is based mostly on Merkle Tree. Here, several transactions can be grouped and processed with each other as if it have been the exact same transaction. The authentic hash worth will be extra to the information pairs that act as tamper-evidence tags for the information even following it has been acquired by the dApp.
The information on the Umbrella Network is validated by neighborhood validators, who will be certain that manipulation or assault on a single information supply is “locked at the door”.
Speaking about the partnership, John Chen, president of Umbrella Network, stated: “We are thrilled to spouse with PlayMining and include their rating information to our decentralized oracle. Starting in January 2022, our key target is on network growth, and PlayMining will undoubtedly go a extended way in direction of reaching this.
This time, when Blockchain gaming is developing massively and holds the critical to attracting huge numbers of end users to cryptocurrency. Umbrella Network, with its vision of staying a customizable and scalable decentralized oracle, with its declared vision will also carry the neighborhood closer to the cryptocurrency market place. ”
About Umbrella Network
Umbrella Network is a neighborhood-owned Oracle platform with versatile and price-productive scaling for DeFi and the blockchain neighborhood. Umbrella’s Layer two engineering is applying the most up-to-date innovations on the Merkle Tree platform to record several information factors on the exact same on-chain transaction That’s why it permits the protected, price-productive, and precise distribution of information to good contracts. Umbrella believes that developing an Oracle neighborhood venture is not only possible, but also vital to generate a genuinely decentralized money procedure.
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