Razor Network

Razor Network is a completely decentralized Oracle network for Decentralized Finance and other distributed applications and services. Razor avoids any weakness associated with conventional centralized oracle networks and is secured by a highly efficient Proof of Stake network which punishes misbehaving nodes through a strict Slashing mechanism.

Whitepaper

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Interest lvl

Medium

Updated: Feb 06, 2021

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User Rating

Medium

3/5 • 1 votes

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Ticker

RAZOR

Type

Utility-token

Token standard

ERC20

FoundedSingapore

Registration countrySingapore

Registration year2018

Office address160 Robinson Road #14-04 Singapore 068914

Ecosystems

Ethereum

What is Razor Network

Razor network consists of stakers 1 who accept queries from a job queue, perform fetching of information from the real-world, process and aggregate the results and serve them to the requesting application. Stakers are awarded for reporting coherently and penalized for reporting incoherently.

Razor network uses a proof of stake consensus algorithm and uses a native utility token called RAZOR. RAZOR are needed to be locked to participate as a staker in the network. Stakers are awarded fees as well as block rewards for participating in the network. The amount of staked tokens of the staker determine their influence in the network.

The design goals of the Razor network are to ensure the long term sustainability of the oracle and the data feeds it provides, a high degree of decentralization, high economic security in a way that protects both stakers and clients of the oracle from various attacks.