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UMA is an optimistic oracle that can resolve disputed incorrect or imperfect information that is being recorded to the blockchain by incentivizing human verifiers to validate the data.
Binance UMA Quiz Answers
Question 1: What makes the OO optimistic?
Answer is : Proposed data will not require resolution unless it is disputed, and disputes are rare
Question 2: What is UMA’s native token?
Answer is : UMA coin
Question 3: Why does the OO include a human component?
Answer is : Humans can provide any kind of knowable truth to a blockchain
Question 4: Who are the three actors in the OO system?
Answer is : The contract requesting the data; the participant proposing the data; and the disputer
Question 5: What are the phases in the UMA voting process?
Answer is : Voting period; voting revealing period; reward collection period
Question 6: How long does it typically take for the OO, through its UMA token holders, to resolve a dispute?
Answer is : 48 hours
Question 7: Why is there a reward associated with voting correctly?
Answer is : So there is an incentive to be correct
Question 8: How many tokens did UMA transfer to its DAO in 2021?
Answer is : 35 million tokens
Question 9: What is the cross chain bridge empowered by UMA and its OO?
Answer is : Across
Question 10: What is the DAO tooling organization that is a sister protocol to UMA and Across and is secured by the OO?
Answer is : Outcome.Finance