Razor Network is now available on Moonbeam Network
Razor Network, a decentralized and permissionless Oracle solution, is now available on the Moonbeam Network. Moonbeam is a platform for cross-chain connected applications that brings together assets and functionality from various blockchains. It enhances the developer experience by merging full Ethereum compatibility with the strengths of Polkadot, including scalability, cross-chain integrations, and on-chain governance.
With the integration of Razor Network into the Moonbeam network, developers can now utilize trustless, real-world price feeds for their dApps. This development significantly expands the functionality and potential of decentralized applications on the Moonbeam network.
Deployment Details and Supported Chains
The official documentation provides detailed information on Razor Network’s implementation on the Moonbeam Network 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 vast 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.
