RAZOR NETWORK — THE INNOVATIVE DATA AGGREGATION ENGINE FOR SMART CONTRACTS
Gone are the days when finance used to be such a drag, with centralization being the major set back faced by users, for instance in the conventional banks, brokerages and exchanges which are all the building blocks of the entire financial system are so ridden with intricate processes and technical barriers which keep users from having access to their funds and assets as well as constantly missing out on various gainful financial opportunities.
DeFi is the new normal in finance, it is born out of the need to liberate the global population from the strangling grip of centralization. Decentralized finance is refined with inventive protocols, smart contracts, and other unique financial tools and products to revolutionize finance such that it is more flexible and accessible to everyone, more importantly, this new financial paradigm is built on the immutable blockchain infrastructure which is an electronic ledger that record transactions and keeps track of basically anything of value consigned on the structure.
Blockchain makes the use of digital tokens for transactions quite seamless and opens a world of opportunities for its adopters. While DeFi continues to prominence, there are a bunch of products that are instrumental to ensuring that this system is sustained and properly secure the future of finance, razor forms a major component of this products.
while data is elusive to smart contracts which are drawn up on the blockchain, it becomes more difficult to operate decentralized apps which help the operations of DeFi, usually a centralized server called ‘oracle’ is utilized to access data, unfortunately, this server is a single point and can be compromised at any time, the Razor network was designed on the notion that there should be a duplication of data across multiple points that are secure and transparent.
Razor network is a decentralized oracle proffering data to smart contracts via a vast network of cryptocurrency stakers. It is a unique, robust, scalable and economically secure system refined and introduced into the world of DeFi to ensure that details of transactions on the blockchain are recorded in a fast, effective, transparent and utterly secure manner.
The network is protected by a mechanism that wards off any form of adversarial behaviour on the,it is censorship resistant, collusion proof and possesses a data aggregation machine that doesn’t compromise the security and decentralization of the network.
This is unlike anything anyone has ever seen in the DeFi space and their are a couple of unique features that support this claim, it is noteworthy that the Razor oracle is the missing puzzle to unlocking decentralized stablecoins, identity, borrowing and lending, finance,atomic swaps, prediction markets,insurance and synthetic assets.
FEATURES OF RAZOR NETWORK
This is basically a reiteration of an already stated fact, Razor is completely decentralized, there are no bottlenecks or activities on the network are practically end to end without any form of mediation whatsoever.
It is secure unlike most defi networks which are compromised by the slightest of cyber attacks. The network portrays a solid dispute escalation and resolution method that negates collusion, bribing and censorship on the network.
Automated aggregation of data is performed swifter than one can blink, and this without compromising network security or its decentralized structure.
PROOF OF STAKE
adversarial behaviours on the network is completely off the books due to the highly functional Proof of stake security enabled.Oth
Razor network is exactly what the DeFi world requires for optimum functioning, instead of a single point oracle, it disperses the responsibility of aggregating and storing data for smart contracts across multiple stakers. The network will partner with top blockchain based projects to sustain its development and create more usability for users.
For more information, kindly visit https://razor.network
Article Written By : Adasofunjo Michael Oluseye