Pushing for Multi-Chain Interoperability - Umbrella Network (UMB)

Multi-chain interoperability will receive a boost due to the Umbrella Network (UMB) roadmap for the rest of 2021.

Scalable oracle platform Umbrella Network (UMB) recently revealed that its roadmap for the year 2021 currently has nine major milestones left. Each of these milestones is also expected to be achieved before the end of this year.

In an official blog post, Umbrella Network also expatiated on its focus for the rest of the year, highlighting three major objectives, namely:

  • The strategic increase of use cases with applications as well as to facilitate better market adoption.
  • Improved multi-chain interoperability and also facilitate the integration of more blockchain platforms.
  • Lastly, to ensure its decentralization goal isn’t compromised, the continued growth of the UMB validator network and decentralized governance is essential.
UMB Network Roadmap for the Rest of 2021

As previously stated, the oracle platform has highlighted nine major milestones scheduled to take place in 2021.

First on the list is:

  1. Binance Smart Chain (BSC) Mainnet Launch (June 2021)

Umbrella Network, in May, launched on Binance Smart Chain’s testnet during its BSC Month promotion. Plans are also in place to finally launch on the BSC mainnet this June. This scheduled mainnet launch comes barely four months after UMB’s IDO.

The mainnet launch on BSC is a major milestone for the entire Umbrella Network ecosystem. It marks a significant move to the live and deployed version of the platform. Once this launch takes place, other important improvements are likely to follow suit. Improvements like increased adoption, as well as more strategic integrations.

2. Binance Smart Chain Community Validators Program (July 2021)

The role of validators on the UMB Network cannot be overemphasized as they are major players in ensuring top-notch decentralization of the platform. Umbrella Network is currently accepting applications from interested persons looking to join the UMB validator team.

3. Ethereum Mainnet Launch (July 2021)

UMB Network’s mainnet launch on BSC will be closely followed by the Ethereum mainnet launch sometime in July. Ethreum is currently a major force in the decentralized finance (DeFi) space as it houses a huge portion of DeFi applications. Providing data for Ethereum is a major feat for the oracle platform.

4. Decentralized Governance (August 2021)

UMB Network will commence the move towards decentralized governance in August 2021. First, it will implement a unique voting system providing community members with voting power. Therefore, putting them at the helm of affairs with regards to decision-making on the UMB Network.

5. Polygon Integration (September 2021)

UMB Network will also join the fast-growing Polygon blockchain ecosystem before the end of September 2021. UMB will make use of Polygon’s interoperability to boost access to its data feeds across various blockchains.

Q4 of 2021 Milestone Updates
  • DPoS Launch – 2021 Q4 will mark the launch of UMB’s Delegated Proof-of-Stake (DPoS) consensus mechanism. This launch will further bring UMB Network closer to its goal of being fully decentralized. The DPoS consensus mechanism provides network validators with a more secure and reliable ecosystem.
  • Solana Integration – UMB will also integrate Solana in Q4 of 2021.
  • Integration of Moonbeam and Plasm – UMB also plans to integrate Polkadot’s Moonbeam and Plasm chains. Both Moonbeam and Plasm are EVM-compatible parachains on the Polkadot platform. The launch has also been scheduled to occur simultaneously with the launch of Plasm 2.0.
  • UMB to Integrate Avalanche – To wrap up 2021, UMB Network will integrate open-source platform Avalanche.

In conclusion, at the end of 2021, Umbrella Network (UMB) is expected to have partnered with six blockchains, as well as extend its data oracle services to several blockchains and DeFi applications (dApps).

Umbrella Network (UMB) Price

At the time of publication, UMB was trading at $0.244356 with a 24-hour trading volume of $900,212. UMB price is also up by 18.8% in the last 24 hours. This continues a hot streak as UMB made the Daily Gainers List on July 26.

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