OneRoot Network

by OneRoot Foundation

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IPFS

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UMA Token

by Risk Labs

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OneRoot Network

by OneRoot Foundation

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IPFS

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UMA Token

by Risk Labs

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What problem does this service solve?

The OneRoot Network wants to create a development platform for DApps.IPFS is a decentralized alternative to HTTP that can be used to make recording blockchain transactions more efficient.UMA defines an open-source protocol to create and verify trustless financial contracts, making it easier to create financial DApps.

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Company Description

The OneRoot Network hopes to create a blockchain development platform that will provide a development infrastructure for DApps, and a decentralized exchange. The OneRoot consensus mechanism is based on the concept of co-building. The company's whitepaper and marketing materials are unclear regarding its technical details and project vision.

The Interplanetary File System (IPFS) is a decentralized network protocol for sharing hypermedia in a distributed file system. IPFS can be used to link blockchain transactions This effectively timestamps and secures the content, without having to put the data on the chain itself. Filecoin, an IPFS-based decentralized storage cloud, is closely related with the IPFS protocol, and provides the incentive system.

The UMA token is used to enable holders to participate in community governance issues and to help resolve contract disputes on the UMA platform. UMA is designed to be a decentralized financial contracts platform, and is an abbreviation of Universal Market Access. Their goal is to build the financial infrastructure that will make creating decentralized financial services easier. UMA provides a variety of smart contract templates as well as a decentralized oracle that can be used to validate payouts related to financial contracts.

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