What is Razor Network (RAZOR)? All information about the project Razor Network

Following the Research series and hot coins and tokens, GocTienAo would like to introduce to you a project: Razor Network

In this article, we have 3 main parts:

  • Razor Network (RAZOR) What is it and was born to solve what problem?
  • RAZOR and token-related information
  • Should you invest in? Razor Network are not?

What is Razor Network (RAZOR)?

Razor Network (RAZOR) is a decentralized Oracle network that connects smart contracts with off-chain data in the real world in a fast, powerful and secure way.

What problem does Razor Network solve?

NS Smart Contract do not have access to data from the real world, such as those needed to run some other decentralized applications.

Learn more: What is a Smart Contract?

You often hear the concept Oracle right? It is simply a system that provides real-time data, but most Oracles currently are centralized, in contrast to the recent trend of decentralization, and centralized Oracles like this are hard to find. verified reliability.

So how to solve this? Is there any decentralized Oracle?

Understanding this need, Razor Network was born, providing a decentralized Oracle solution using a network of stakers. Specifically, please continue reading below.

Features of Razor Network

Truly Decentralized – Completely Decentralized

End-to-end decentralized oracle network

Secure – Guaranteed

Dispute escalation and resolution mechanism makes it resistant to collusion, bribery and censorship attacks

Fast – Calculate quickly

Automatically fetch data without compromising security and decentralization

Scalable – Extensibility

Deployed on a scalable network and agnostic blockchain.

Proof of Stake

Secured by a highly efficient Proof of Stake network with severe penalties for misconduct

Components in Razor Network

1. Oracle

2. Job manager

3. Client application

4. User.

Oracle

Oracle includes stakers that process queries in a job queue and deliver the results to the client on demand.

Staker must stake their RAZOR to become Staker in oracle platform.

Job manager

Job manager accepts queries from customer applications and sorts them in order of priority of paid fees. Queries with higher fees will be prioritized for processing by Oracle. Job manager supports single requests as well as feed requests.

Client Application

This is an application in using oracle. Razor, is a general purpose, permissionless Oracle platform. Therefore, any smart contract application, or user, can pay a fee to use oracle’s services.

User

This is any user using the client application.

Information about tokens

What is RAZOR?

RAZOR is the project’s native utility token

Token Use Cases

Stake: stake RAZOR to be eligible to be elected as a Validator

Governance: RAZOR can also be used for protocol management in the future

Current information

  • Ticker: RAZOR
  • Blockchain: Ethereum
  • Token Standard: ERC-20
  • Total supply: 1,000,000,000 RAZOR
  • Allocated Tokens: 600,000,000 RAZOR
  • Mined Tokens: 400,000,000 RAZOR

RAZOR Token Allocation

RAZOR Token Release Schedule

ROZOR Public Sale

20:00 on February 4, 2021 (Vietnam time) will open the sale of RAZOR tokens at Balancer

Details: https://medium.com/razor-network/announcing-razor-networks-public-sale-round-on-balancer-a4a8d641f16b

Price forecast

Similar projects?

…..

Team & Advisors, Partners and Backers

Team & Advisors

Partners

Backers

Roadmap

Not found.

Media channel of the project

Should you invest in the project?

The idea of ​​the project

Realized the need to get real world information from blockchain.

Oracles are currently “centralised”, meaning there is a third party influence

Centralized Oracles are difficult to assert transparency, easily manipulated by any object or group, and if hacked, things will be worse.

Reviews of Razor Network

In my opinion, the project is quite good, has a quality team, backers and partners are quite good, can be a serious competitor of Oracles at the moment.

Conclude

The above article has provided you with an overview to details of the Razor Network project. Hope GocTienAo has given you useful information about the project. If you find it interesting, please share the article with your friends!

All investment statements above are personal. All investment decisions are made by you and you are responsible for your assets. Good luck!

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