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What is Razor Network (RAZOR)?
Razor Network is a decentralized oracle platform that provides information for smart contracts. The largest difference from other oracles is that Razor Network doesn’t depend on any dedicated server to offer advice to the project partner blockchains. In addition, the job is outstanding in terms of efficiency, fault tolerance, and safety.
Razor’s platform can function and fetch information from the external world independently. And since it’s decentralized, it’s more powerful network resilience than centralized oracles. In addition, it may deliver data much faster with the lowest potential of congestion. Razor can be blockchain-agnostic and may be used by anyone at any time.
The platform utilizes a Proof-of-Stake (PoS) consensus model to incentivize user involvement in project activities. Stakers are incentivized dependent on how they keep the system trustworthy, and such stakers may also be penalized if they attempt to report incorrect data.
Functions of Razor Network
Razor Network is intended to have these properties as an oracle:
High economic security
This refers to the number of resources a hacker would have to compromise the whole network.
In other oracles jobs, fees for some information or information requests vary widely. For instance, a blockchain platform may request information, such as the value of USD, and be charged a very low cost for such a petition.
At this stage, this claim capacity is assigned to one or several stakers. This raises the potential for a staker supplying incorrect data. This has enormous implications for smart contracts as incorrect information may cause mass liquidations.
In outline, this is the significance of financial security in data requirements. Razor Network provides the exact same financial security for all data requests whatever the fee charged for them.
High degree of decentralization
Razor doesn’t depend on any middleman or central server to make data requests. Transactions occur only between the stage and its blockchain counterpart.
In addition, Razoe Network is controlled by multiple nodes to remove a single point of failure in the network. Because it follows the PoS consensus version, hackers who wish to attack the network will have to expend a whole lot of resources to target a great number of nodes before having an opportunity to compromise the whole network.
Protect stakers from various kinds of attacks
Razor includes a dispute resolution system in place to ensure that the data reported by the nodes is accurate.
Protect clients from malicious stakers
Through that the PoS model, Razor can identify malicious nodes that try to collect information offered to the network. Malicious nodes are penalized to protect clients.
Anti-censorship
Razor implements a PoS chain with Honey Badger Byzantine Fault Tolerance (BFT) to stop fraudsters and censored clients from falsifying data made available to the network. This chain works with the Ethereum Virtual Machine (EVM).
Ease of use for programmers
Developers do not need to comprehend the structure to run the whole platform to incorporate Razor.
Resistance to assault comes because of collaboration between multiple stakers
Since Razor has multiple layers and features that enable the network to dispute results from nodes, it’s resistant to attacks which come from collaboration between malicious stakers. There will be a dispute mechanism to prevent attacks from occurring.
Razor’s system is complicated and complicated, but this is what guarantees the safety of the whole network. Its network includes three major layers, with unique functions. That is:
Oracle coating
This is where stakers report information regarding data requests from clients. Stakers are rewarded for their honest performance and people who report erroneous information can be penalized by confiscating their staked tokens.
Analysts can process chosen queries, disclose secret and desired data points, suggest a block, dispute cubes, and deliver the results to the intelligent contract as soon as they are finalized. . There are two methods to use Oracle: manual or automatic. With the manual method, this work is completed from the stakers.
Workflow direction
Basically, this layer will have the function of sorting out the order in which the questions have to be processed by oracle and organize the fees which the customer must cover.
Client Application
This is the application layer where Razor is used.
What makes Razor Network stand out from other Oracle platforms?
Below are the highlights of Razor Network compared to Oracle jobs, including immunity to network attacks, 2 operating mechanisms including manual and automatic.
Basic info about RAZOR token
- Token Name: RAZOR Token
- Ticker: RAZOR
- Blockchain: Ethereum
- Token Standard: ERC-20
- Contract: 0x50de6856358cc35f3a9a57eaaa34bd4cb707d2cd
- Token type: Utility, Governance
- Total Supply: 1,000,000,000 RAZOR
- Circulating Supply: 43,174,778 RAZOR
Token Allocation
- 40% recorded for token mining
- 22.2% marketed via Seed & Private Sale
- 19.8% is allocated as the provider’s reserve fund
- 10% is allocated to job founders
- 6 percent is allocated to the project development group
- 2% allocated to job advisors
Token Release Schedule
RAZOR token rate now token
What is RAZOR token used for?
RAZOR has two major purposes:
- Staking to get rewards.
- Vote, or to export changes to parameters in the protocol.
RAZOR token storage pocket
RAZOR is an ERC20 token, so you’ll have a great deal of wallet choices to store this token. You can pick from these wallets:
- Floor wallet
- Popular ETH pockets: Metamask, Myetherwallet, Mycrypto, Coin98 wallet
- Cold pockets: Ledger, Trezor
How to make and own RAZOR tokens
Buy RAZOR tokens directly on the exchange.
Where to purchase and sell RAZOR tokens?
Currently RAZOR token has been traded at many unique exchanges with a total daily trading quantity of around $2.2 million. The 4 trades which have recorded RAZOR tokens include: Balancer, Lbank, Gate.io, MXC, Uniswap, AEX, Hoo.
Roadmap
upgrading
What is the future of this Razor Network job, if I invest in RAZOR token or not?
Razor Network is a newly established oracle project. Since Razor Network is a later oracle project, it has incorporated many advantages in comparison to preceding oracle projects. Prominent one of the benefits of Razor Network is its ability to withstand attacks on the network. Although there are definite benefits over the oracle pioneer Chainlink, Razor Network now has a great deal of customers using its oracle services. In the long run, Razor Network has to be more active to expand its network of customers and customers, aiming to compete with large projects like Chainlink and recently established projects.
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