Razor.network is an explanation of how Razor Network works to achieve its goals of providing a decentralized, trustworthy, fast and scalable way to provide external data to smart contracts.Anything which provides external data to a blockchain is called an “Oracle”. Razor Network consists of validators who lock in their tokens as a “Stake” and provide data to the network. The honest validators are rewarded and those who report incoherently are penalized.There is a clear need in the market for an oracle which is both fast and secure. Razor network fills that gap.We currently use Ethereum block hashes to generate randomness. This is deterministic since the block hashes are publically known and verifiable.
Razor.network End-to-end decentralized oracle network with no centralized bottlenecks.
Razor.network Dispute escalation and resolution mechanism makes it extremely resistant to collusion, bribing and censorship attacks
Razor.network Automated fetching of the data without compromising security and decentralization
Truly decentralized oracles are here
Razor.network Smart contracts do not have access to external data. Such data is necessary for operation of various decentralized applications.Traditionally this is done by using a centralized servers called “Oracles”. But they are a single point of failure in otherwise decentralized applications and must be trustworthy.Razor Network is a decentralized oracle providing data to the smart contracts using a network of stakers. Razor is not only fast but also extremely robust and economically secure.
Goals of the protocol
Razor.network goal of the project is to provide a decentralized way to verify and provide data to a blockchain. Since entire economies are being built on top of blockchain which rely heavily on the external data, it is extremely important that the data is provided and aggregated in a decentralized way to avoid many kinds of attacks.
The various kinds of attacks that can be faced by a decentralized oracle such as Razor are:
Takeover attack by controlling the majority of the validators
Bribe signaling attack
Providing invalid or compromised data source
Making invalid queries to the oracle
Censoring reports of honest validators.
Razor.network is a decentralised oracle network.Razor Network consists of validators who lock in their tokens as a “Stake” and provide data to the network. The honest validators are rewarded and those who report incoherently are penalized.The core of Razor Network is a set of smart contracts, that can run on any Ethereum compatible blockchain. Razor relies on the underlying blockchain for providing certain properties such as censorship resistance, security from network partition attacks, etc.
How are pseudorandom numbers generated in a secure way?
Razor.network various operations of the protocol, we need to generate pseudorandom numbers in a trustless way. The algorithm must be deterministic so that the calculation can be performed and verified on the blockchain.We currently use Ethereum block hashes to generate randomness. This is deterministic since the block hashes are publically known and verifiable.A block hash is basically a random 256-bit number. Dividing it by 2^256 gives a random number between 0 and This is then used for various calculations in the protocol.
Dispute Resolution mechanism
Razor.network attacker can bribe the majority of the stake in a trustless way and can compromise the results of the oracle. To prevent this, Razor Network has an in-built dispute resolution mechanism.Any result of the oracle can be disputed by paying the “Dispute bond”, which can be paid collectively. The disputers win a reward of 50% of the dispute bond if they successfully dispute a round.
Razor.network are an ambitious, mission-driven tech startup in stealth mode that’s redefining the blockchain space. Our mission is to build a truly decentralized oracle network. Razor network will be the first oracle network, which is both fast AND secure. We will also be building apps to showcase the power of the oracle and to bootstrap user adoption.As an engineer, you’ll work within the product team with other engineers, designers, and product managers in building the missing ‘must-have’ features while supporting all of our user-facing and internal products.
Razor.network attacker may provide a data-source which is non-responsive, provides unreliable data, or lacks trustworthiness.
Razor.network use your personal information as this Privacy Statement describes. No matter where you are, where you live, or what your citizenship is, we provide the same high standard of privacy protection to all our users around the world, regardless of their country of origin or location.
Razor.network require some basic information at the time of account creation. When you create your own username and password, we ask you for a valid email address.
Razor.network you sign on to a paid Account with us, send funds through the GitHub Sponsors Program, or buy an application on GitHub Marketplace, we collect your full name, address, and credit card information or PayPal information. Please note, GitHub does not process or store your credit card information or PayPal information, but our third-party payment processor does.
Not All The Websites Which Listed In Top List Are 100% Safe To Use Or Investment. We Do Not Promote Any Of Those. Due Diligence Is Your Own Responsibility. You Should Never Make An Investment In An Online Program With Money You Aren’t Prepared To Lose. Make Sure To Research The Website. So Please Take Care Of Your Investments. And Be On The Safe Site And Avoid Much Losing Online.
One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.