Razor Network is now available on BNB and opBNB Chains!
Razor Network, a decentralized and permissionless Oracle solution, is now available on the BNB and opBNB chains. BNB chain is a community-driven blockchain ecosystem that includes Layer-1 and Layer-2 scaling solutions.
The opBNB network is the Layer 2 scaling solution for the BNB Smart Chain, powered by the bedrock version of the Optimism OP Stack. It improves efficiency by offloading transaction processing and resource usage from the BNB Smart Chain while continuing to post data to the mainnet.
With Razor Network’s integration into the BNB and opBNB chains, developers can leverage trustless, real-world price feeds for their dapps. This expands the functionality and potential of decentralized applications on the BNB Network
Deployment Details and Supported Chains
The official documentation provides detailed information on Razor Network’s implementation BNB and opBNB chain and the other supported chains.
With the introduction of Razor Networks Bridge V2, the framework transitions to a Pull-based architecture. Unlike previous iterations where the oracle operator was responsible for updating price feeds on each blockchain directly, this version empowers users to retrieve prices on-chain as needed.
Once the Razor Network Oracle reaches consensus on the price feeds, this data is signed by a trustworthy entity, namely the Razor Oracle operator, and stored off-chain. Accompanying this release is a new REST API that makes this off-chain data accessible. When an on-chain update is required, users can execute a single transaction that updates the on-chain price and use it in subsequent protocols. The necessary data for this transaction is obtained from the off-chain service (REST API). This signed data is then authenticated on-chain, and the updated price is provided to the user.
This process allows Razor Network Oracle to efficiently update a large number of price feeds across multiple blockchains, enhancing the security of existing protocols by mitigating the risk associated with delayed Oracle updates during periods of high or unpredictable gas prices.
For instructions on how to use these data feeds, visit the documentation.
About Razor Network
Razor Network is a blockchain-agnostic, truly decentralized Oracle platform designed to meet the diverse requirements of decentralized finance. At Razor Network, we have created the next-generation completely decentralized Oracle system with maximum game-theoretical security. Contact us if you need any assistance using Razor’s price feeds.
