Polygon (MATIC) gets Umbrella Network Onboard

Karthik Subramanian

Polygon, the layer 2 solution on Ethereum, now has a new oracle onboard in the form of the Umbrella network which is a decentralized Layer-2 oracle solution and this launch would make available price data for a range of instruments across the entire ecosystem.

polygon

The Polygon network has been seeing the onboarding of a lot of applications and solutions on its network over the last few months and the network has seen some massive growth during this period as it combines the power of the underlying Ethereum network with low gas fees and high speed, which is not available in Ethereum at this time. So, all the developers who would have ideally moved to Ethereum to house their applications are now choosing to go with Polygon and the network has also developed its developer support multi-fold to welcome the new developers and make their onboarding process much easier than before.

“We have long-term goals of providing a lot of different oracle solutions for the NFT and gaming segment, which is thriving on Polygon,” said Sam Kim, Partner at Umbrella Network. “We hope to be able to work with various DeFi applications on their data needs, as well as the growing gaming ecosystem there. Between our scalable data solutions, our newly released arbitrage-free options pricing, which is currently unavailable anywhere else in DeFi, as well as our VRNG, we have many data solutions that could be effectively utilized by applications on Polygon.”

For the first time, the Umbrella network would be releasing their random number generator which is an important development for the developer ecosystem and much-needed addition. One of the main challenges that the developers face, especially when building large games, is to be able to generate random numbers that cannot be tampered with or predicted, under any circumstances. This would be satisfied by the launch of the random number generator by the Umbrella network which would also support uniform randomness, skewed randomness as well as customer distributions. This would be very useful for NFT minting and crafting and also help with the integration of the NFTs into a gaming ecosystem apart from its usual use-cases like lotteries and queue generation. This would be welcomed by the game developers on the Polygon network which has also been actively supporting this ecosystem in recent months.

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