UMA to Participate in Blockchain Oracle Summit in Bangkok on November 11th
UMA will participate in the upcoming Blockchain Oracle Summit in Bangkok on November 11th.
Refer to the official tweet by UMA:
UMA 🥚@UMAprotocolNov 07, 2024Next week, Ethereum builders will be getting ready for @OracleSummit in Bangkok, along with @EFDevconv. 🇹🇭✈ï¸
Catch @hal2001 speaking about OEV, the new age of DeFi, and of course, UMA’s Optimistic Oracle. Details here👇 pic.twitter.com/LwrH9zGeMZ
UMA Info
UMA is an optimistic oracle and dispute arbitration system that securely allows for arbitrary types of data to be brought on-chain. UMA’s oracle system provides data for projects including a cross-chain bridge, insurance protocols, custom derivatives and prediction markets. UMA's oracle is used to create many other types of products and protocols.
In the UMA Oracle system, three key elements are distinguished: the contract that initiates a data request, the user providing the data, and the potential disputing party who has the right to challenge the presented data in case of disagreements.
The UMA token is utilized for system governance. Token holders can vote on management issues such as protocol updates or asset pricing decisions.