Umbrella Network Announces Roadmap Update [2021]
Umbrella Network is excited to release our updated roadmap that outlines the major development cycles that our team will be focused on in the coming months.
The rest of 2021 will be focused on three major objectives:
- To gain market adoption and real use case scenarios with applications as we grow our ecosystem
- To continue our path towards decentralization, with the growth of our validator network and development of decentralized governance, and
- To further our path towards multi-chain interoperability as we integrate into more blockchains.
The roadmap has 9 major development milestones, outlined below.
I — BSC Mainnet 2021 June
Following our successful launch on BSC testnet in May (see #BSCmonth), we’re moving forward quickly to launch on BSC mainnet before the end of June, just 4 months after our IDO in February.
The BSC mainnet launch will mark a major milestone in the development of the project as we transition to a live, deployed product and platform. From this point forward, we can begin to gain market adoption and look to have other applications integrate into our platform and start utilizing Umbrella’s oracles.
II — BSC Community Validators 2021 July
While we’re already accepting applications from those interested in becoming Umbrella Network’s first cohort of community validators (sign up here), we plan to flip the switch and turn it on in the month of July, after our launch on BSC mainnet.
Allowing the community to become validators is a major step in furthering our goal towards decentralization.
III — Ethereum Mainnet 2021 July
Umbrella Network’s BSC Mainnet launch will be followed by the mainnet launch on Ethereum before the end of July.
To its credit, Ethereum is still home to the biggest ecosystem of DeFi applications, so it is critical for Umbrella Network to be able to provide data oracles for this market segment.
IV — Decentralized Governance 2021 August
By August, we will be able to start the move towards decentralized governance, initially by implementing a voting solution to allow the community to begin being able to vote on various governance-related issues for decision making.
This is a critical first step towards community governance, as we begin implementing proper voting capabilities to allow this transition to happen.
V — Integrate Polygon 2021 September
Umbrella will join and integrate into Polygon’s (previously known as Matic Network) fast-growing ecosystem before the end of September.
Polygon’s interoperability shall be leveraged by Umbrella Network to enable faster, smoother, and more reliable access to our data feeds across different Blockchains.
VI — Launch DPoS Q4 2021
We will launch our Delegated Proof of Stake (DPoS) consensus mechanism in Q4 of 2021.
This is one more major step in our goal towards full decentralization. DPoS is a further improvement to Proof of Stake, allowing a more secure and decentralized way for validators to operate, as now our community of token holders can vote to appoint the validators versus any centralized authority.
VII — Integrate Solana Q4 2021
Umbrella Network will look to integrate into and support Solana in Q4. Solana is a secure and censorship-resistant blockchain with scalable infrastructure and a large and growing ecosystem.
Boasting a transaction fee of about $0.00025, Solana’s overall philosophy of high scalability, fast transaction times, and low transaction fees complements our own operating ethos.
VIII — Moonbeam, Plasm Integration Q4 2021
We will also look to integrate into Polkadot’s Moonbeam and Plasm chains in Q4. Moonbeam and Plasm are two EVM-compatible parachains on Polkadot. Plasm is a scalable and multi-virtual machine smart contract platform.
Our launch is scheduled to coincide with the launch of Plasm 2.0 that shall foster better interoperability with Ethereum middleware such as DEXs.
IX — Integrate Avalanche Q4 2021
Finishing up 2021 will be our integration with Avalanche — an open-source platform and blockchain for dApps that promises sub-second transaction times.
By the end of 2021, we will have support for 6 major blockchains, and be able to provide data oracles for a significant number of blockchain and DeFi applications.
As we move towards a multi-chain universe, our goal is to be inter-chain operable, and be able to support the data needs of as many applications and application developers as possible.
And as we move into 2022, we will continue to integrate and support more chains for greater interoperability, push for broader mass-market adoption, and evolve our features and functionality to support the demands of our growing community and ecosystem.
For any questions or suggestions, do write to marketing@umb.network
