Wolfonaire Chatbox : AMA With RAZOR (29th Aug, 2022)
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Hello! Wolfonaire Family & Crypto Enthusiasts
We recently hosted an AMA With RAZOR 29th Aug, 2022 at 01:00 PM UTC. This session was phenomenal. If you have missed then here is the precious AMA transcript, for those who missed the live session this will enlighten you for sure…
Guest Speaker :
Mr. Hrishikesh H | CEO, RAZOR
(Note: This is the transcription of the event. Please note that the transcript was edited for comprehensibility and coherency, while the content was not changed.)
INTRODUCTION
Hrishikesh : Razor Network is a blockchain agnostic decentralized oracle network focusing on Maximum game-theoretical security, complete decentralization, and being fully permissionless. Razor achieves this while still being fast and practical for Decentralized Finance.
Razor is blockchain agnostic and will be integrated with many blockchains. We have partnered with blockchains such as Polygon Network, SKALE, Algorand, Elrond, Conflux, Persistence, and many more.
Our vision is to create the most secure oracle network and be the leading oracle in this space.
Wolf : With the launch of your Alpha on SKALE mainnet on 1st September, what can dApps on SKALE expect?
Hrishikesh : With our launch, dapps on our SKALE chain will be able to use Razor network oracle to get Ether/USD price in secure and reliable way. It will be free to consume the datafeed. Also since it is a proof of stake network, anyone can stake their $RAZOR and run a validator node to earn block rewards. Alternatively they can delegate their tokens to other stakers using razorscan (dot) io.
Wolf : Good to hear that. Please share the core thesis’s behind choosing SKALE over other chains.
Hrishikesh : SKALE is a proof of stake network. It is fully compatible with ethereum (EVM) so all the existing tools work with it.
Also it is gasless, which means transactions are free. It has sharding, instant finality and it is quite fast with blocktime of around 5 seconds.
Also it has IMA to connect with other SKALE chains and ethereum mainnet. It is quite attractive for these reasons. ✅
Wolf : wow,Great decision,I hope after this integration #RAZOR will be more robust than ever. Have you done any external smart contract audits for Razor Network?
Hrishikesh : Yes we have completed audit from leading security auditor slowmist.
We are also working with one more auditor to minimize any potential security risks.
Wolf : What is next big step/event for Razor after the Alpha launch?
Hrishikesh : After our launch on SKALE mainnet, next big step will be interconnectivity with IMA bridge to other SKALE chains and also Ethrereum mainnet in this quarter. In next quarter we are planning to become chain agnostic so apps on many different blockchains will be able to utilize Razor Network oracle easily.
Wolf : Who can be a validator on the network?
Hrishikesh : Anyone staking 2 Million $RAZOR tokens can become a validator. It is a fully permissionless network so you do not need our permission to become validator. More info will be released in our docs. docs.razor.network
You can also delegate your stake to other valdiators using razorscan.io . There is no minumum amount required to become a delegator!
These are the tokenomics for those who want to become a validator.
Wolf : Who are major partners of Razor Network, how big is the ecosystem?
Hrishikesh : Here are some of our partnerships :
Skale
Polygon Network
Persistence
Mantra Dao
Elrond
Algorand
Moonbeam
Knit Finance
MOAR Finance
Plutos Network
Litentry
Vortex Defi
CellFrame
Injective Protocol
Ambee
MobiFi
Web3API
Paid Network
Dafi
Sentinel Network
Conflux
Xinfin’s XDC
Open Defi
Spider DAO
We also have following validators. More are on the way!
NGC StakeX
Terminet
Stakin
Validatrium
StakingCabin
Wolf : What type of Consensus Algorithm does Razor Network use?
Hrishikesh : Proof of Stake is a proven consensus algorithm. That’s why it is used by many reputable projects including Ethereum 2.0
Proof of stake is the core consensus mechanism of Razor Network. Proof of stake allows Razor to achieve the following goals:
1. Proof of stake provides Sybil attack resistance. This is because becoming a validator requires staking tokens and doing that without owning tokens is not possible.
2. The algorithm rewards honest validators with new tokens. This incentivizes the validators to behave honestly and report valid data.
3. Dishonest/incoherent validators are penalized and their stake is reduced. This disincentivizes bad behavior
Wolf : What is the utility of a data oracle in blockchain?
Hrishikesh : Smart contracts do not have access to external data. Such data is necessary for operation of various decentralized applications.
Traditionally this is done by using a centralized servers called “Oracles”. But they are a single point of failure in otherwise decentralized applications and must be trustworthy.
Razor Network is a decentralized oracle providing data to the smart contracts using a network of stakers. Razor is not only fast but also extremely robust and economically secure.
Wolf : How many validtors will Razor have at genesis?
Hrishikesh : We have 5 confirmed institutional validators. We are reaching out to more validators to add to the list. But we are not limited by institutional validators. Anyone can stake $RAZOR and become a validator in our network. This maximizes the decentralization of our network.
NGC StakeX (https://medium.com/razor-network/ngc-stakex-joins-razor-network-as-an-institutional-validator-420dd5b4bce7)
Terminet (https://medium.com/razor-network/terminet-becomes-the-latest-institutional-validator-to-join-razor-network-805ee260a7a0)
Stakin (https://medium.com/razor-network/stakin-joins-razor-network-ecosystem-as-institutional-validator-6bc153d82501)
Validatrium (https://medium.com/razor-network/validatrium-joins-razor-networks-institutional-validators-list-b718fc393fbd)
StakingCabin (https://medium.com/razor-network/razor-network-partners-with-stakingcabin-to-expand-its-validator-network-bfea91333516)
Lets Move to Community Round
Q1. Do you have a whitepaper? if yes please share it with us and secondly are you working to AUDIT your project, to make its security more secure and reliable?
Ans. Yes we have a whitepaper available on razor.network/whitepaper.
We have already completed an audit by slowmist. We are working with one more auditor.
Q2. How can users join this project? Is there a channel with the local community where users can get the latest updates?
1, YouTube channel
2, Website
3, Instagram
4, Discord
5, Twitter
6, Other_____
Ans. Website: https://razor.network/
Documentation: https://docs.razor.network/
Twitter: https://twitter.com/razor_network
Telegram: https://t.me/razornetwork
Medium Blog: https://medium.com/razor-network
Discord: https://discord.gg/Js4pBny2rw
Q3. Where can I currently buy Token?
Q4. Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
Ans. Please check tokenomics here https://medium.com/razor-network/razor-network-tokenomics-476933cfaaf9
Q5. How old is Your project? What are the major plans ahead? Could you show to us image of your roadmap?
Ans. We have been working on Razor since 2019. Please check our roadmap on our website razor.network
Now the session ends with lots of thanks to our Guest Speaker…
Here are some important links of RAZOR
Website | Telegram | Twitter | Wolfonaire Family Chatbox | Wolf
