UMA, the oracle provider for Polymarket, has approved the UMIP-189 proposal to upgrade the oracle contract from OOV2 to MOOV2 to increase efficiency and reduce disputes.
Limiting the rights to propose market solutions only for whitelisted users helps improve transparency and stability, especially for non-disputed markets such as sports and cryptocurrency prices.
MAIN CONTENT
The UMIP-189 proposal has been approved to upgrade the oracle contract from OOV2 to MOOV2.
Limiting market proposal solutions to whitelisted users only.
The new contract has been tested on the Polygon Mainnet and will gradually be integrated into the production environment.
What is the UMIP-189 proposal to upgrade UMA's Oracle?
UMIP-189 is a proposal to upgrade UMA's oracle contract from version OOV2 to MOOV2, aimed at improving performance and reliability in data provision. This is an important step in minimizing disputes over input data in prediction markets.
UMA has conducted a thorough review of the MOOV2 contract on the Polygon mainnet to ensure stability and compatibility before wide-scale deployment. This contributes to enhancing the accuracy and overall efficiency of the oracle's operations.
Why restrict market proposal solution proposers to the whitelist?
Limiting only whitelisted users to propose market solutions aims to reduce unnecessary disputes while maintaining transparency and control in the system.
Especially in markets like sports or cryptocurrency prices, where data is often less disputed, this mechanism helps enhance processing speed and reduce the risk of errors. This is a strategy to optimize user experience and improve the operational efficiency of the oracle.
Upgrading the oracle to MOOV2 will be a breakthrough in minimizing data disputes while enhancing quality and reliability in the prediction market ecosystem.
UMA's Technical Director, speaking in August 2024
How is the testing and deployment process of the new contract carried out?
The MOOV2 oracle contract has undergone rigorous testing on the Polygon mainnet to assess stability and interoperability with existing systems. Test results indicate the contract operates effectively, facilitating the transition to a production environment.
This transition is carried out through a step-by-step roadmap to minimize risks and ensure the system remains uninterrupted. This process helps ensure UMA's oracle maintains reliability and transparency for all users.
What is the operational mechanism and impact of the MOOV2 contract on the cryptocurrency market?
MOOV2 operates as an advanced oracle contract, providing more accurate and reliable data for prediction markets, particularly in the cryptocurrency sector. Limiting proposals to whitelisted users helps control the quality of input data.
This ensures that non-disputed markets like sports or cryptocurrency operate more smoothly, minimizing the risk of disputes and loss of transparency in prediction data. This contributes to improving the efficiency and sustainability of the oracle ecosystem.
Frequently Asked Questions
What is UMIP-189?
UMIP-189 is the proposal to upgrade UMA's oracle contract from version OOV2 to MOOV2 to improve performance and reliability.
Why limit market proposal solutions to whitelisted users only?
To reduce disputes, enhance transparency, and improve operational efficiency, especially in less disputed markets.
On which network has MOOV2 been tested?
The MOOV2 contract has been tested and run on the Polygon Mainnet prior to widespread deployment.
Does the upgrade affect users?
The upgrade helps improve the user experience by providing accurate, transparent data and reducing the risk of disputes.
When will the MOOV2 contract be put into production?
MOOV2 will be gradually deployed after testing is complete on Polygon to ensure stability.
Source: https://tintucbitcoin.com/uma-cap-nhat-oracle-toi-uu-polymarket/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
