What does UMA mean in blockchain (what does blockchain 1u mean)

What does UMA mean in blockchain? According to official sources, what does UMA mean in blockchain? UMA can be used to create NFTs. The UMA token model, like other ERC-20 tokens, is owned and controlled by the community. Each UMA is a DAO, and the organization will manage the allocation of these tokens through governance. It can also use decentralized financial (DeFi) tools in smart contracts for asset issuance and trading operations. In addition, UMA can also be used to develop new protocols or applications for various purposes: games, Metaverse, and other types of applications It is reported that UMA is the next generation on chain liquidity market platform built on the CosmosSDK

What does blockchain 1u mean

Blockchain 1u is an abbreviation for a numeric byte.

. This number represents a technology that can be infinitely replicated and used in computers, and is used to describe a specific type of application or smart contract, such as decentralized exchanges, lending protocols, and so on. 1U refers to the ability of users to distribute and store their data through blockchain to obtain rewards or rights, also known as “blocks”, which refers to data traded on the chain. Nodes in blockchain are network participants responsible for handling transactions across the entire network. Everyone has corresponding resources (including bandwidth) for operation. 2U is a part of the blockchain system, driven by the consensus layer, with the main purpose of ensuring network security and stability. 1u is the meaning of a word and is not important compared to a string of code. This makes it easier for 1U to understand and implement the content contained in 1U, so 2U may not be suitable for the general public. 1U also means that anyone can create a 1UToken (such as Bitcoin), but they can also send it to everyone else without revealing the names of these tokens. (bitcoinist. com)