Penumbra Price(UM)

Penumbra is a privacy focused Layer 1 blockchain built using the Cosmos SDK and Tendermint consensus engine. It is designed as a fully shielded, cross chain proof of stake network that provides end to end encryption for all its on chain activities. Unlike many other blockchains where privacy is optional, Penumbra is private by default, meaning that transfers, staking, and trading activities are shielded from public view. The project acts as a multi asset shielded pool for the entire Inter Blockchain Communication (IBC) ecosystem. This allows users to move assets from other IBC compatible chains into Penumbra to transact privately. When assets enter the network, they are shielded, and they only become public again when they are withdrawn back to a transparent chain. One of the core features of the project is ZSwap, a private decentralized exchange. ZSwap uses a novel design called sealed bid batch auctions. This mechanism groups all trades in a specific block into a single batch, which helps prevent frontrunning and protects the trading strategies of users. Additionally, Penumbra supports concentrated liquidity, allowing users to provide liquidity anonymously. The network also extends privacy to its security and management layers. It features private staking and delegation, where the specific amount a user has staked remains confidential while still allowing them to contribute to the security of the network. On chain governance is also private, enabling users to vote on proposals through secret ballots, ensuring that individual choices are not exposed to the public. The UM token is the native utility asset of the Penumbra network. Its primary functions include: One. Staking and Security: Users can delegate UM to validators to secure the network and participate in the consensus process. Two. Governance: UM holders can vote on protocol upgrades and community proposals. Three. Transaction Fees: The token is used to pay for the execution of transactions and interaction with the network. From a technical perspective, Penumbra utilizes zero knowledge proofs to verify transactions without revealing the underlying data. It also employs a local first architecture where transaction proofs are generated on the user's device rather than on a central server. This ensures that the user remains in total control of their private keys and data. Users also have the option of selective disclosure, which allows them to share transaction history with authorized third parties for purposes like tax reporting or compliance without making the data public to the rest of the world. Learn more

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