1
What is Umbala Network?

Umbala Network is the world’s first Blockchain for the Eye Vision Computing Economy. Umbala Network consists of a Blockchain named Umbala Chain and an ecosystem of decentralized applications (DApps) within the Eye Vision Computing Economy built on top of Umbala Chain as the core technology.

Therefore, Umbala Network can be considered as a Blockchain-based Eye Vision Computing Economy. From the perspective of ecosystem, Umbala Network is the world’s first Blockchain for the Eye Vision Economy. From the perspective of underlying technology, with innovations in consensus algorithm that make Blockchain faster and support DApps better, Umbala Network is a Blockchain of DApps, for DApps and by DApps.

In general, it is possible to view Umbala Network as a performance-focus & highly scalable blockchain to connect billions camera devices all over the world and accelerate decentralized eye vision computing applications.

2
What problems is Umbala Network aiming to solve?

Umbala Network resolves 2 main types of problems that current Blockchains are running into.

The first type of problems is the underlying technology of Blockchain. Most current Blockchains are facing scalability problem, which leads to:
- High-latency or transactions taking a long time to be confirmed and the usual congestion of the network.
- High transaction fees

DPoS-based Blockchains are pioneering solutions to this scalability problem. However, such kind of Blockchains, for example EOS, has other issues, which include:
- The system is controlled by the richest people (Sharks & Whales), not by the ones who create true values to a decentralized network supporting applications (DApps).
- An unchangable minority takes control of the network. For instance, EOS is controlled by 21 Block Producers. Meanwhile, Standby Block Producers still have to pay infrastructure cost but hardly have any opportunity to manage the network and make profits from block rewards.

The second type is about getting mass adoption for Blockchain. Current DApps on Blockchain are focus on a minor group of industries and have yet to attract many users. This is what prevents Blockchain from stepping out to the mainstream world and getting adopted by mass users.

3
How does Umbala Network solve these problems?

With the underlying technology of Blockchain, Umbala Network proposes a new consensus algorithm named Delegated Proof-of-Reputation (DPoR). DPoR has key features such as Reputation Scoring Engine for all accounts, Reputation Voting (the Block Producers voting procedure based on reputation scores), BP Randomization (randomly choosing Block Producers) and Fair Incentive Mechanism. With these features, Umbala Chain can become a 10,000 - 1M tx/s & zero-fee transactional system empowering DApps to lead the network.

For the ecosystem, Umbala Network selects a wealthy market to develop applications. Apps built on top of Umbala Chain will operate within the camera economy, or as known as eye vision computing economy. As predicted, there will be 45 billion cameras all over the world in 2022, which means each person will be covered by 4 to 5 cameras. Thus, there will be an abundance of camera data and many applications created to take advantage of it. To connect camera data and applications together, there is a need for a decentralized network. Umbala Chain is the first Blockchain to enter this market, which promises to create an ecosystem with practical applications for everyday life built on top of Umbala Chain and attracting vast of users.

4
Why do we create Umbala Network?

We see the big problem of current Blockchains, which is the problem of getting-mass-adoption. We also see the huge potential of applying Blockchain in the market of camera data in the near future. By integrating Blockchain technology and the market of camera data, we are confident that we can attract millions of users and developers building DApps to join Umbala Chain, solving the problem of getting-mass-adoption for Blockchain

5
What are Umbala Network’s major competitive advantages?

We believe in 2 important points that can distinguish Umbala Network from other public Blockchains and ecosystems of decentralized applications:
- The Blockchain design: The way we design Umbala Chain empowering DApps, the guys create the most value for a Blockchain, to lead the network. That is why we are a Blockchain of DApps, for DApps, and by DApps
- The go-to-market plans to get the mass adoption for Umbala Chain: We enter a extremely potential market to build our DApps. We also have already had a lot of experience in such market. That is why we believe we attract a large number of users and developers to join Umbala Chain in the short time

For the ecosystem, Umbala Network selects a wealthy market to develop applications. Apps built on top of Umbala Chain will operate within the camera economy, or as known as eye vision computing economy. As predicted, there will be 45 billion cameras all over the world in 2022, which means each person will be covered by 4 to 5 cameras. Thus, there will be an abundance of camera data and many applications created to take advantage of it. To connect camera data and applications together, there is a need for a decentralized network. Umbala Chain is the first Blockchain to enter this market, which promises to create an ecosystem with practical applications for everyday life built on top of Umbala Chain and attracting vast of users.

6
What is the 'eye vision computing economy'?

The world has witnessed 4 generations of business models based on cameras. The first generation was when the concept of digital cameras, in which photos could be captured and stored in digital memory, was born. The second generation was when the revolution of social platforms occurred and photos were shared on social media apps and started to show their communication capabilities. The third generation was when the evolution in telecommunication infrastructure facilitated high-quality wireless internet and videos became the tools for showing more ranges of human emotion and creating more ways of human interaction. Moreover, not only did live-streaming invent a new way of interaction between people, but it also opened a new era of camera applications.

The fourth generation is happening now, with the massive coverage of cameras all over the world and the development of groundbreaking technologies, for example, AI, VR, AR and Blockchain are predicted to change the word completely. We call the forth generation of business models based on cameras as the 'eye vision computing' economy

Umbala Network is a representative of the fourth generation. We strongly believe in the camera vision where billions of cameras all over the world are connected and the new way of totally real-time interaction between people is created. With the economy we are creating, all individuals and enterprises can easily build their own decentralized, interactive, easy-to-scale and real money-making camera applications operating in a wide range of areas such as real estate, e-commerce, financial, security, media, etc.

7
What is the plan on building the ecosystem of applications on top of Umbala Chain?

Please refer to our paper elaborating the ecosystem built on top of Umbala Chain http://bit.ly/umb-investment-summary

8
What is the achievements in product progression that the team has reached so far?

At the moment, Umbala Network is in the progress of launching our final products. We launched the testnet of Umbala Chain internally in March with 8000 tx/s (TPS) in this version. We are planning to launch the testnet publicly in April or May. After that, the mainnet of Umbala Chain is expected to be launched in first days of June. Along with that, the first Dapp on Umbala Chain, which is Umbala.Tv - a live shopping marketplace platform, will have the alpha version in Appsote/CHPlay right in April and will grow its user-based in Q2 to help proving the mass adoption of Umbala Chain.

9
What is the Delegated Proof of Reputation consensus algorithm?

Please refer to our Consensus Proposal http://bit.ly/umb-consensus-proposal or the article featured on our Medium blog https://medium.com/umbalanetwork/9b48f0f3ba2e

10
Which advantages does the team has to make the vision we are pursuing real in the future?

Our team has key members who have a lot of experience in tech startup in general and in building camera-based technical products. For example.

- Mr Don Thao Nguyen, CEO: A passionate serial entrepreneur with seventeen-year experience of developing online mobile social platforms, including 8 years working on online camera-based products. Products he has developed: Timshot, the Vietnamese-version Instagram (which) got series A funding from Cyber Agent Ventures (2011); Timbox (2012), a mobile social chatting platform); uBox (2013), a mobile social interest-based platform reached nearly 500,000 users in the first 2-month; Umbala.Tv, a music livestreaming platform got 200,000 users & a $260,000 deal on SharkTank Vietnam Season 1.
From 2006, he had founded an oshoring & outsourcing firm named CNC Software, which got nearly $1,000,000 revenue by making 50+ online social community applications worldwide for United States & Japan market.
Awards: Winner @Forbes Startups Contest 2015; Winner @The Israel Startups Competition (2015); and Top 3 Vietnamese ICT Talented Awards (2010).

- Mr Ryan Hung Pham, CTO: Mobile Technical Leader of the fast-growing mobile app uBox acquiring nearly 500,000 users in the first 2 months; Technical Leader of Umbala.Tv, the live music video app reaching 200,000 users worldwide. His products have made to the list of Global Best New Applications 3 times on Apple app store. He has 6+ years developing mobile camera-based & blockchain technology. Awards: Winner @Forbes Vietnam Startup Contest 2015; Winner @The Israel Startup 2014; & Top 10 SingTel Challenges 2014

- Dr Thuc Vu (Stanford), Advisor: Silicon Valley based serial entrepreneur who was the co-founder of Katago, Inc., which got Google-acquired (2011); Co-founder/CEO of OhmniLabs, an AI robotic platform (2015). He also founded Kambria Foundation, a decentralized open innovation platform to accelerate the development and adoption of impactful robots (2017). PhD in Computer Science @Stanford & @Canergie Mellon (the 2 leading names in AI & Machine Learning). He has advised & been an early-investor for Umbala.Tv since 2015.

- Dr Hung Tran (University of Iowa), Advisor: Founded the world's first KaaS (Knowledge as a service) using AI - GotIt! - which has raised $15+ millions

ROADMAP

Q1 2017
Launch Music Video Battles . Umbala.Tv app got featured globally on Apple App Store
Q3 2017
Launch Camera Star! & Real-time and interactive live video streaming in Umbala.Tv app
Q4 2017
Get $260,000 funding from Shark Tank Vietnam Season 1
Q1 2018
  • Recognize camera economy (eye vision computing economy) problems
  • Recognize problems that many current Blockchain are running into
  • Start researching Blockchain solution to solve these problems
Q2 2018
  • Start Umbala Network development by Utilizing Blockchain technology
  • Start to develop the Minimum Viable Product
Q3 2018
  • Come up with the idea of 108 Delegated Proof of Reputation with Reputation Scoring
  • Engine, Reputation Voting, BP Randomization and Fair Incentive Mechanism
Q4 2018
  • Launch Minimum Viable Product
    • 108 Delegated Proof of Reputation Consensus Algorithm
    • The first Open Camera Protocol: Video Streaming Protocol
Q1 2019
  • Launch Testnet Umbala Chain (internally):
    11 powerful nodes & 35 weak nodes, 5K TPS
  • Support smart contract
  • Start upgrading Umbala.Tv app to a new business
    model & make Umbala.Tv the first Dapp on Umbala Chain
Q2 2019
  • Launch Testnet Umbala Chain (publicly):
    150 nodes, 8K TPS
  • Lock UMB Transactions On Ethereum.
  • Swap UMB Token From Ethereum network To Umbala Chain network
  • Improve and test the Mainnet security, stability, reliability
  • Launch alpha version of the first DApp - Umbala.Tv, the live video shopping marketplace for trendy good
Q3 2019
  • Partner with ShopX Network - Decentralized live shopping protocol for e-commerce market
  • Partner with StreamX Network - Decentralized lives treaming protocol providing unlimited bandwith & less-than-1-second latency streaming service
  • Develop Bala stable coin used for payment in Umbala Network ecosystem
  • Develop VNDX stable coin used for payment and customized for DApps operating in Vietnam market
Q4 2019
  • Integrate Umbala.Tv to Umbala Network Ecosystem on Mainnet
  • Umbala Network Foundation start operating to accelerate newly-invented camera technologies
  • Announce big partners building DApps on Umbala Chain
Q1 2017

Launch Music Video Battles . Umbala.Tv app got
featured globally on Apple App Store

Q3 2017

Launch Camera Star! & Real-time and interactive
live video streaming in Umbala.Tv app

Q4 2017
Get $260,000 funding from
Shark Tank Vietnam Season 1
Q1 2018
  • Recognize camera economy (eye vision
    computing economy) problems
  • Recognize problems that many
    current Blockchain are running into
  • Start researching Blockchain solution
    to solve these problems
Q2 2018
  • Start Umbala Network development by
    utilizing Blockchain technology
  • Start to develop the Minimum Viable Product
Q3 2018

Come up with the idea of 108 Delegated
Proof of Reputation Consensus Algorithm

Q4 2018
  • Launch Minimum Viable Product
    • 108 Delegated Proof of Reputation Consensus Algorithm
    • The first Open Camera Protocol: Video Streaming Protocol
Q1 2019
  • Launch Testnet Umbala Chain (internally):
    11 powerful nodes & 35 weak nodes, 5K TPS
  • Support smart contract
  • Start upgrading Umbala.Tv app to a new
    business model & make Umbala.Tv the first
    Dapp on Umbala Chain
Q2 2019
  • Launch Testnet Umbala Chain
    (publicly): 150 nodes, 8K TPS
  • Launch Mainnet Umbala Chain
  • Lock UMB Transactions On Ethereum.
  • Swap UMB Token From Ethereum network
    To Umbala Chain network
  • Improve and test the Mainnet security,
    stability, reliability
  • Launch alpha version of the first
    DApp - Umbala.Tv, the live video shopping
    marketplace for trendy good
Q3 2019
  • Partner with ShopX Network - Decentralized
    live shopping protocol for e-commerce market
  • Partner with StreamX Network - Decentralized
    lives treaming protocol providing unlimited
    bandwith & less-than-1-second
    latency streaming service.
  • Develop Bala stable coin used
    for payment in Umbala Network
    ecosystem
  • Develop VNDX stable coin used
    for payment and customized for
    DApps operating in Vietnam
    market
Q4 2019
  • Integrate Umbala.Tv to Umbala
    Network Ecosystem on Mainnet
  • Umbala Network Foundation start
    operating to accelerate
    newly-invented camera technologies
  • Announce big partners building
    DApps on Umbala Chain

Learn more about the Umbala Network

See what UMBALA is all about!