The Umbrella Network launched one of the largest initial dex offerings (IDOs) at the beginning of 2021. This is a community-owned, decentralized oracle service providing secure and extensively scalable data solutions for decentralized finance (DeFi) applications. Umbrella provides access to revolutionary financial datasets for blockchain app developers in the crypto space as well as those with an interest in real-world business transactions.

The decentralization power of the Umbrella Network is centered around the UMB utility token, which is used for staking, community votes and rewards and incentives. By introducing a layer two blockchain integration, Umbrella Network creates a highly scalable oracle solution.

Samuel Kim is a founding partner at Umbrella Network. He graduated with a masters degree in business administration from the University of Chicago Booth School of Business in 2007. He also attended the University of Columbia in 1998. In 2002, Kim became a consultant for the World Bank, and in 2008 he joined Credit Suisse as an associate.

In 2012, Samuel Kim set out on his first major entrepreneurial venture by co-founding The Mobile Majority (acquired by Gimbal in 2016), where he was the COO until 2016. The company functioned as a mobile advertisement advisor and campaign manager for enterprise clients. In 2017, Kim started a new venture — Lucidity, a digital advertising protocol utilizing blockchain technology. He is still a board member at the company.

The Umbrella Network is one of the first to empower the development of decentralized financial applications based on real-world data. Not only that, the company prides itself on the virtually infinite scalability opportunities the network provides.

By utilizing blockchain technology to create a new future for DeFi, the Umbrella Network brings personal and enterprise finance to the 21st century. In addition, the protocol uses data feeds from multiple sources to calculate the most accurate price in the market, thus presenting users with the most up-to-date information. Last but not least, the Umbrella Network is completely decentralized when it comes to governance. Thanks to the UMB token, stakeholders, validators, and developers have the opportunity to participate in governance votes and decide the future of the network.

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The Umbrella Network supports a maximum supply of 46,405,087 UMB tokens. The total supply is 56,405,087UMB tokens. The current circulating supply is 18,282,511 UMB tokens.

Out of the total token supply, the Umbrella Network foundation and treasury will receive 13%, of which 10% will be dedicated to a special development fund. Another 20% of the supply will be equally divided among founding team members and early contributors to the project. The remaining 67% of the supply is divided as follows: 10% towards public sales, 37% towards a rewards pool, 10% towards a node fund and the final 10% towards a dedicated partner fund.

The Umbrella Network is based on the Ethereum blockchain and utilizes a delegated proof-of-stake (DPoS) consensus model to ensure the security of the data transfer process. The DPoS Umbrella community owns the majority of UMB tokens and will elect validator nodes to serve as representative governing bodies over the Oracle service.

The DPoS consensus mechanism is also what allows the Umbrella Network to be extremely scalable. While tokens like Bitcoin rely on the proof-of-work (PoW) consensus to validate nodes and transactions on the blockchain, the Umbrella Network relies on stakeholders to become validators. The proof-of-stake mechanism also requires considerably less electrical and computing power to process transactions, allowing projects like the Umbrella Network to be more scalable.

Since its launch in 2020, the UMB token has attracted the attention of a lot of investors. If you are looking to purchase UMB coins, your best bet is Uniswap V2.

Other exchanges supporting trades in UMB include:

• Gate.io
• AscendEX
• MXC.COM
• 1inch Exchange

It is important to note that investing in cryptocurrencies carries risk, just like any other form of investment.

Find more information here about buying cryptos.

The Umbrella Network is a community-owned, decentralized oracle service that provides secure and scalable data solutions for decentralized finance (DeFi) applications. It offers access to revolutionary financial datasets for blockchain app developers and those interested in real-world business transactions.

Powered by the UMB utility token, Umbrella Network introduces a layer two blockchain integration for highly scalable oracle solutions.

The Umbrella Network was founded by Samuel Kim, a business administration graduate from the University of Chicago Booth School of Business. He has a background in consulting and entrepreneurship, having co-founded The Mobile Majority and Lucidity. Kim is currently a board member at Lucidity.

Umbrella Network stands out by enabling the development of decentralized financial applications based on real-world data. It offers virtually infinite scalability opportunities and utilizes multiple data sources to calculate accurate market prices. The network is governed in a decentralized manner through the UMB token, allowing stakeholders, validators, and developers to participate in governance decisions.

The total supply of UMB tokens is 56,405,087, with a maximum supply of 46,405,087. The current circulating supply is 18,282,511 UMB tokens. The token distribution includes allocations for the foundation, treasury, development fund, founding team members, early contributors, public sales, rewards pool, node fund, and partner fund.

The Umbrella Network is secured through a delegated proof-of-stake (DPoS) consensus model on the Ethereum blockchain. The DPoS Umbrella community, owning the majority of UMB tokens, elects validator nodes to govern the Oracle service. This consensus mechanism ensures security and scalability, requiring less energy and computing power compared to proof-of-work (PoW) mechanisms.

The UMB token can be purchased on Uniswap V2, as well as other exchanges such as Gate.io, AscendEX, MXC.COM, and 1inch Exchange. However, it is important to note that investing in cryptocurrencies carries risks.