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What is UMA?
UMA is an optimistic oracle (OO) that can verify any statement proposed on the blockchain. UMA functions as a decentralized truth machine that includes human reasoning backed by economic incentives. UMA was co-founded by Hart Lambur in 2018 and launched in 2020.How does UMA work?
UMA’s oracle uses a “true unless disputed” pattern, in which anyone can propose or dispute data. In cases of disputes, UMA’s network of tokenholders vote to verify the data, earning inflationary token rewards for correct votes.Who governs UMA?
UMA tokenholders own and govern the protocol. They do not currently take a cut of the total oracle call & periodic fees paid by users (revenue). UMA's investors include Placeholder and Blockchain Capital.Related posts
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