Join Our Mailing List
Sunday June 04, 2023
Bitcoin (BTC) $27,218.29   Ethereum (ETH) $1,905.09
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Vendor Technology

Umee building first native oracle for Cosmos blockchain network

Through its real-time, distributed price feeds, Orion will complete a missing piece in the Cosmos infrastructure and provide native price information for all IBC tokens...

Published by CryptoNinjas.net
07/07/2022
Umee building first native oracle for Cosmos blockchain network

Umee, a cross-chain borrowing & lending platform built on the Cosmos SDK, announced today the development of Orion, the first decentralized price oracle native to the Cosmos blockchain ecosystem.

The price oracle will allow applications to accurately determine the price of a Cosmos IBC (Inter-Blockchain Communication) asset at any given time, which is crucial to the smooth and secure operation of network applications.

Built on the Umee blockchain, Orion will ensure that interchain DeFi apps are able to access real-time price data from both on-chain and off-chain sources.

Until now, Cosmos builders have only had access to limited price information, which has generally been concentrated in smaller feeds on select protocols. This can make real-time asset prices imprecise and pose a threat if any of the limited price feeds are overwhelmed or breached.

As a decentralized oracle service, Orion will address these vulnerabilities and shortcomings by using a permissionless set of validators that collect and aggregate price data. The protocol will synchronize price information between chains while computing volume-weighted average prices via a commit-reveal schema that penalizes validators for submitting incorrect data.

“We are excited to spearhead the effort to build out the critical infrastructure for a decentralized price feed that can be utilized by everyone across the Cosmos ecosystem. Orion solves a key problem and will make the Cosmos ecosystem even safer for users and more attractive for builders and developers.”
– Brent Xu, Founder & CEO of Umee

75
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Tendermint: Founder of Cosmos blockchain rebrands to ‘Ignite’

02/23/2022
Tendermint: Founder of Cosmos blockchain rebrands to 'Ignite'

All in Bits, Inc., DBA “Tendermint”, the founding team of the Cosmos ecosystem and developer of tools for Web3, has now announced it will operate under the trademark, “Ignite” with a new, energized brand....

Read more

Forte to expand its blockchain gaming platform to Cosmos

10/19/2021
Forte to expand its blockchain gaming platform to Cosmos

Tendermint, an open network infrastructure provider with a focus on the Cosmos blockchain ecosystem, and the Interchain Foundation (ICF) today announced a partnership with Forte, an organization building a blockchain platform for video games....

Read more

Asia Digital Bank implementing access to Cosmos ecosystem thru IRISnet

10/18/2021
Asia Digital Bank to provide users access to Cosmos ecosystem thru IRISnet

Asia Digital Bank Ltd. (ADB), the first recipient of the Digital Banking license issued by Labuan Financial Services Authority in Malaysia and digital asset operator, announced a strategic partnership with Bianjie, IRISnet's Core team,...

Read more

Cosmos blockchain based Gravity DEX protocol is now live

07/13/2021
Cosmos blockchain based Gravity DEX protocol is now live

Today, Cosmos network validator B-Harvest, and Tendermint, the blockchain infrastructure provider for Cosmos, together announced they have successfully launched and deployed the Gravity DEX protocol. Gravity DEX marks the biggest stride forward for Cosmos...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
Token.io launches new spin-out company focused on digital money solutions

Token.io launches new spin-out company focused on digital money solutions

12/10/2019
Quant Network blockchain integrates Constellation for IoT interoperability

Quant Network blockchain integrates Constellation for IoT interoperability

12/03/2019
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
The Sandbox teams with Hex Trust to enable licensed and secure custody of its virtual assets

The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets

05/10/2023
CoinFlip launches new self-custodial cryptocurrency wallet platform 'Olliv'

CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’

04/28/2023
Crypto exchange Deribit to launch zero-fee spot trading

Crypto derivatives exchange Deribit to launch zero-fee spot trading

04/20/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy