Razor Network
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Razor Network

Community Update: July 2021

Dear community,

The past month was filled with learnings & progress for the team at Razor Network; notable developments have been covered in this article, namely the release of RazorScan V2, development of Command-line Interface in GO programming language, optimization & improvement of Razor Oracle Smart Contracts.

RazorScan V2

We have added more components and improved our API, the significant addition in the RazorScan to support the aggregated value of all the assets. Earlier, we only supported one endpoint URL to fetch the asset’s price, but now, we support multiple endpoints.

The value of each asset users now see on the RazorScan is an aggregate of several values fetched from different sources. Aggregation is done off-chain methods used are mean/median. Stakers ensure that values being submitted/proposed for a collection are aggregated as per the aggregation method specified in each collection.

Also, RazorScan V2 is made more user-friendly with the dark mode feature; users can toggle between dark & light mode easily. Query speed has been optimized, graph structure has been upgraded to provide comprehensive data about an asset, and users can now access entire Oracle data.

Golang Command-line Interface

We have launched a Command-line Interface developed in GO programming language by Golang. It was done to improvise the security of the interface and to make it more stable for nodes to conduct activities like staking and voting. Dive deeper by reading the documentation or by clicking on this GitHub link.

Also, users can delegate their $RAZOR tokens to any of the active stakers. Along with delegation, some more commands like setting up the configuration for Command-line Interface are added.

Smart Contract

The team is constantly working hard on smart contracts to make them more secure and optimized. There have been many optimizations and improvements added to the Razor Network’s Oracle Smart Contracts, some of the significant changes are listed below:

  • Implemented Influence Mechanism

Aiming to penalize and reward stakers in a justifiable way, we have added an influence mechanism. The rewards and penalties of the stakers are calculated using the age of the staker. Age represents the duration of the staker being part of the network, further based on age, and few more factors influence and reputation of the stakers are calculated.

  • Pausable Smart Contracts

We have made our smart contracts Pausable. It will make smart contracts more secure and enhance the user experience. All the staking and unstaking activities will be paused in case of a change in the value of governance parameters or for upgrading the smart contracts.

  • Added support for users to delegate funds to stakers.

Any user will now be able to delegate their $RAZOR tokens to any of the stakers and earn passive income.

We have made a significant leap of progress to deliver a world-class blockchain agnostic Oracle network, focusing on maximum game-theoretical security, complete decentralization, fetching Datafeeds from multiple sources to eliminate a single point of failure, and being fully permissionless. We are actively hiring for our development team; qualified candidates can apply/refer here!

Website | Twitter | Telegram

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Razor Network — A truly decentralized oracle platform for decentralized finance

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Razor Network

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Most secure and Decentralized oracle network

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