Welcome to the recap of our AMA with Razor Network.
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what Razor Network is about, we are sure this recap is gonna help you. So without further ado, continue reading 😉
✔️Introduction with Razor Network :👉
Hello, I’m Divij, working as Communications Head for Razor Network. I have a bachelors in Business Administration with a specialization in Marketing. I’ve been involved in the Blockchain Space for almost 4 years now and have worked with various projects over the years like LCX, DeFi Money Market, PlotX to name a few in roles ranging from Communications to Marketing.
Hi, Decentralized Club.
my name is Himanshu Bisht.
I am an engineer turned into an entrepreneur and marketer. With 6 years of experience in marketing and sales, now I am the head of marketing at Razor Network. excited to be here.
Razor Network is a blockchain agnostic decentralized oracle network with a focus on Maximum game-theoretical security, complete decentralization, and being fully permissionless. Razor achieves this while still being fast and practical for Decentralized Finance. Razor network uses a sliding court mechanism where any result of the oracle can be disputed iteratively. This can thwart any attack that can happen on the oracle.
Razor is blockchain agnostic and will be integrated with many blockchains. We have partnered with many blockchains such as Matic Network, SKALE, Conflux, Persistence, etc. We will be announcing more blockchain integrations soon.
Thanks for the introduction guys . Also the brief summary of Razor Network is setting the stage for more questions 🙂
Razor network is designed from the ground up to provide maximum game-theoretical security without compromising speed. This means it’s impossible to profitably attack the oracle. Apart from that, Razor is fully decentralized, permissionless, and fast.
Q3. Which are the important features or characteristics that makes Razor Network fully Decentralized?
It’s a great question.
Razor’s focus is on creating a truly decentralized Oracle network.
Here are a few points:
1. Truly decentralized and permissionless
2. Only oracle to offer Fast AND Secure results
3. Flexibility to request results in an automated and manual fashion
4. Game theoretically sound and resistant to collusion, bribing, Sybil, and censorship attacks
5. In-house synthetic asset app “Razor Synthetic Assets” to increase adoption
you can read more on the website: https://razor.network
Great question Billy.
Here are a few key points:
1. Razor is Truly decentralized and permissionless
2. It is Only oracle to offer Fast AND Secure results
3. It has Flexibility to request results in an automated and manual fashion
4. Razor is Game theoretically sound and resistant to collusion, bribing, Sybil and censorship attacks
Most of the oracles use the Schellingcoin mechanism. The mechanism is flawed and is vulnerable to various attacks. Razor uses a modified Schellingcoin algorithm with a sliding court mechanism. This includes an iterative dispute resolution mechanism which makes it robust against all kinds of game theoretical attacks.
Q4. What is further planned for Razor Network in 2021 ?
This Year we are planning to go live on the Mainnet. Also we are planning to have a public sale very soon.
We have also partnered with 8 amazing projects and will be partnering with more.
More details will be published on our website soon — https://razor.network
Okay . Two extremely important events in the pipeline
🐧Community ask Questions by Twitter ✔️
Twitter question no 1 .
Username : @ChalsHuiman20
Recently, Razor has joined Conflux to bring its decentralized Oracle service to a new world of DeFi and Web3.0 DApps. Do you plan to become part of Polkadot through this partnership? How will conflux help you improve your Oracle?
The partnership between Razor and Conflux would guarantee that not only Conflux’s blockchain platform but also the external data that is available to the smart contracts remains 100% secure. This will empower DApp developers to create a range of sophisticated smart contracts, which would drive the decentralized applications in tune with the requirements of the next generation of financial applications, digital assets, business applications, and data economies.
Twitter question no 2.
Username : @mujeeb2215
Oracle networks are generally used with centralized bottlenecks. Does your decentralized Oracle network contain centralized bottlenecks or do you not use this for the operation of your network?
so the topmost goal of the project is to be truly decentralized and permissionless. Most of today’s oracles have centralized bottlenecks, which can be attacked and that is their weakness.
Razor network is truly decentralized and has no centralized bottlenecks. Razor network does not require centralized control as it is designed very carefully to be secured by game theory and not by centralized control. All the incentives are properly and carefully designed to achieve that. This was the most challenging part and took more than a year to design and implement.
Twitter question no 3.
Username : @y1sus_afp
Razor has partnered with Sentinel Network. How will this partnership help SENTINEL provide secure crypto currency pricing information to dVPN users? What external data will Razor provide to SENTINEL that is secure and 100% reliable and verifiable?
The integration with Razor’s oracle solution would ensure that Sentinel dVPN users are provided with the correct estimate of how much their bandwidth usage in a session will cost in terms of their preferred cryptocurrencies.
Twitter question no 4.
Username : @lona321ama
Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience?
we truly believe it takes a great community to make a protocol truly decentralized.
we have lots of interesting events happened in the past along with an ambassador program.
Also a lot of stuff is in the pipeline that will be announced soon.
Keep an eye on our announcement channel or join the group:
Twitter question no 5.
Username : @Kvindvr
There are so many Decentalized Networks have dependencies on centralized parties, which is a weak link. Are Razor Network fully Decentralized? What are the main problem Razor Network facing to achieve it?
Decentralization is an important goal of the network. This is because centralization puts a high amount of power in a small group of entities, which makes a lot of attacks feasible and jeopardizes the trustworthiness of the protocol.
Razor network is fully decentralized and does not have centralized bottlenecks. Anyone can become a validator in Razor by staking Razor tokens. It does not require permission from us or anyone else.
We encourage decentralization in the protocol through the following ways:
1. A fair and wide distribution of tokens
2. The protocol is permissionless. We, or anyone else, don’t have the power to decide who is allowed or otherwise, to participate in the network.
3. Queries are randomly assigned to the stakers, making collusion and bribing difficult
4. Secret voting and dispute mechanism makes it secure from bribery attacks.
✍️ Telegram live Questions answered by Razor Network ✔
What is your plan for global expansion? At present, which market does RAZOR focus on, or is it focused on building and growing to gain customers, users and partners?
Razor Network will not only target applications on the Ethereum mainnet, but we have also partnered with multiple L1 and L2 chains to offer a fully decentralized oracle on their platform.
We have also built an in-house synthetic asset platform called deltaOne which will utilize Razor oracle. This will bootstrap a user base for Razor oracle.
We are also part of the Association of Decentralized oracles, where we are collaborating with other oracle projects to standardize oracle integration. We believe that many projects will prefer to use multiple oracles instead of just one. This partnership will enable projects to easily integrate multiple oracles in their project.
Bαƚαɳɠ Aʂƚιɠ 🇵🇭🇵🇭🇵🇭:
Hi gentlemen @divij33 @himanshubisht,
Can anyone be a validator? What are the actions to be considered as honest validator? How does Razor Network detects malicious acts? What are the punishments for being dishonest?
Stakers or validators must perform their tasks diligently on the network to earn rewards. If stakers fail to perform their duties diligently, they may face penalties.
Stakers need to perform the following tasks:
1. Acquire the required amount of Razor tokens
2. Run the node on their computer
Stake their tokens
3. Keep the node online as long as they want to participate in the network
4. If the staker is assigned a dispute/manual round they will have to manually fetch and report data accurately within the specified time (could be up to a few days)
Hope it answers
Razor Network is blockchain agnostic. Since it has this peculiarity, what advantages do you offer for the different blockchains?
Razor is blockchain agnostic and will be integrated with many blockchains. We have partnered with many blockchains such as Matic Network, SKALE, Conflux, Persistence, etc. We will be announcing more blockchain integrations soon. This means projects from different blockchains can use razor Network.
Partnerships seem to be very important. How’s the status of Razor Network partnerships? Can you share some of the partnerships you have formed with existing blockchain foundations recently?
Razor has partnered with many projects in the past and a lot more are coming.
Here are a few notable ones:
Matic — Matic Developers will now be able to access verified data seamlessly through Razor’s Decentralized Oracle Services. This integration will add increased utility to the ever-growing developer ecosystem on Matic and allow application developers on Matic to use Razor Oracle. You can read more here — https://medium.com/razor-network/razor-network-partners-with-matic-network-af6521b6771f
Skale — The Razor-Skale infrastructure will provide developers with the necessary tools to build highly scalable, secure, and high-performance DApps with access to real-world data on SKALE platform. You can read more here —
Here you can read more of our recent partnership till this point:
OpenDeFi — https://bit.ly/3kl2RRr
XinFin’s XDC Blockchain Network — https://bit.ly/2Hxwly8
Conflux — https://bit.ly/3m4Q06y
Sentinel Network — http://bit.ly/3mgMiXz
HARD Working MAN:
Q.How was the idea to create this project born? It is very interesting. What do you want to prove? What are your expectations?
In early 2019, Hrishikesh was exploring real-world applications of blockchain. At that time DeFi was in very early stages but was slowly proving to be a promising use-case. But as he did more research I quickly realized space was limited due to the centralized nature of the oracles used. This will always be a limiting factor of DeFi unless the oracle problem is solved.
The Oracle problem is a very well known and notoriously difficult problem. Hrishikesh loved the challenging nature of the problem and started designing and analyzing different mechanisms for a fully decentralized and secure oracle. Over the period of two year, he continued to research and development of Razor to make it the most robust, secure, and fast oracle network.