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| 1. | | parent_author | "" |
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| parent_permlink | razor |
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| author | tboyloyal |
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| permlink | razor-network-a-decentralized-data-oracle-system |
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| title | "RAZOR NETWORK - A DECENTRALIZED DATA ORACLE SYSTEM" |
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| body | "Seeing how fast the world is advancing, an advancement which is facilitated by the introduction of improved technologies into the different works of life.
The emergence of new technologies has really gone a long way in improving the global system, as they possess sophisticated features which makes them efficient and reliable when used in any system.
One of the digital tools which is rapidly improving both the digital system and the world at large is smart contracts, a mechanism which was developed to bring back trust into the digital system, by facilitating digital transactions in a seamless and transparent manner.
The smart contract runs on the Blockchain, as a contract which does not require external help to execute an agreement between people, making it fully efficient for digital transactions, as they are impossible to manipulate or change.
The smart contract has been in use for sometime now in different digital applications, replacing the inefficient method of executing transactions between people, but sadly, they lack the necessary data needed to function effectively, as they do not have access to external data, in turn limiting the decentralized application where it is adopted.
To solve this problem, centralized data oracles have been used to provide the data needed by the smart contracts to perform effectively, but this has proven abortive, seeing as the centralized oracle is unfit to feature in decentralized applications, as they will be unable to give the needed decentralization.
Luckily, a lasting solution has been created.
**RAZOR NETWORK - A RELIABLE DATA ORACLE SYSTEM**
Razor network is a system which was created to solve the problem of lack of data for smart contracts, which is needed by them to function effectively.
It is a fully decentralized data oracle which provides reliable data from different sources, for the use of different smart contracts, using the PoS (Proof-of-Stake) consensus mechanism, in order to give them the capability of functioning at full force, in the decentralized applications where they are being used.
Razor network does not only provide reliable data for smart contracts, but also makes them available in a fast, secured and decentralized manner.
**OUTSTANDING FEATURES OF THE RAZOR NETWORK**
Increased Speed is one of the many features enjoyable by users of the Razor Network data oracle system, as it has ensured that the provision of data is automated and a great speed, in such a way it still retains both decentralization and security.
Decentralization is the core feature of the Razor Oracle, which allows for data to be gotten from different sources without the control of central authority, so as to ensure reliability and efficiency.
Razor Network has in place, different security measures such as dispute resolution mechanisms, just to guarantee the safety of its users and their operations, seeing as the system is made resistant to attacks such as bribing or censorship.
Adding to these, scalability is another great feature of this system, seeing as it is released on a fully scalable network which makes it possible to be within the reach of varieties of smart contract systems and function efficiently.
**WHY ADOPTS THE RAZOR NETWORK ORACLE?**
For starters Razor Network was created by a team of geniuses, who are well poised in the digital system, therefore possessing all the experience needed to sustain the system, and deliver great services to its users.
Due to its efficiency in delivering data to smart contracts at a speedy pace, Razor Network is already enjoying a great level of adoption, as it has lots of partners such as Matic, SKALE, XDC, Mantra DAO, and a lot more.
This shows how improved the system is, making it reliable for its users all over the world, and a full guarantee that more improved Dapps will be created through the use of the data provided by this oracle to smart contracts.
**CONCLUSION**
Razor Network completely eliminates the centralization which is seen on existing data oracles, which then inefficient, thereby replacing it with full decentralization, so as to ensure that it provides quality data to various smart contracts.
Its increased speed of operation is intriguing, coupled with the state-of-the-art security system, which it has put in place for the benefits of the systems utilizing it." |
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| json_metadata | {"tags":["razor","oracle"],"image":["https://images.hive.blog/DQmVDzPRxUATen4zcgznmD8VzXCboTiqPsRsutHhXLh5oTG/RAZOR%20SMART%20CONTRACTS.png"],"app":"hiveblog/0.1","format":"markdown"} |
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| 1. | | author | tboyloyal |
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| permlink | razor-network-a-decentralized-data-oracle-system |
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| json | "{"type": "daily", "app": "thallid"}" |
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| json | "{"match_type": "Ranked", "app": "steemmonsters/0.7.81"}" |
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| id | sm_submit_team |
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| json | "{"summoner": "C4-167-1NIA1FIWF4", "monsters": ["starter-162-6WbhO", "C3-247-DDYEUYWR2O", "starter-158-oOTzA", "C3-228-NS7UKKBNXC", "starter-163-tZ4Hd", "C3-131-U5N9YINSUO"], "trx_id": "eb4a131d936ee7a8110137e9de3bdb9d6c91e618", "app": "steemmonsters/0.7.81", "secret": "JGX6I3x1c3", "team_hash": "6dc456b519e6a98d5b2dbda05f049dc1"}" |
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