Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with Razor Network 17 March, 2022. This guest star,

  • Hrishikesh HCEO of Razor Network

Introduction

Hrishikesh | Razor.network |
I am Hrishikesh. The CEO of Razor network.
I have worked in various positions such as data scientist and product manager before discovering Bitcoin and Ethereum at the end of 2015. I found the technology fascinating and decided to work as a blockchain developer in this field in 2016. I have worked with various companies as a blockchain developer including ConsenSys. I have made open source contributions to projects such as the Ethereum and Raiden network.
We have a team of 15 folks from diverse backgrounds. With deep experience in blockchain and full-stack development.

Pankaj Shukla,
Hi I am Pankaj, I take care of marketing efforts at razor.network.

QUESTIONS MODERATOR

Razor Network incentivized testnet has gone live, phase 1 is completed and phase 2 is coming soon. Can you tell us more about your testnet and when we should expect the mainnet release?

Hrishikesh | Razor.network |
We got hundreds of responses to participate in our incentivized testnet. We selected around 85 of the applicants based on their responses. The test net has run successfully for 4 weeks.
The participants were distributed testnet RAZOR tokens which they can stake or delegate to other stakers. A reward of 500,000 RAZOR was awarded to the participants based on various factors regarding their participation.

We are targeting mainnet release in Q2 2022. We are planning for one more phase of incentivized testnet and security audit completion before release.

What is the Razor Network token? What are the utility? Where is the token listed? Why investors should care?

Hrishikesh | Razor.network |
Our utility token is called RAZOR.
Razor network is a proof of stake oracle, you must stake RAZOR to be able to be a validator in the network.
$RAZOR is also required to particiapte in the governance mechanism.

$RAZOR is trading at various exchanges such as mesc, gate.io, uniswap, dfyn, etc. You can check the entire list at https://www.coingecko.com/en/coins/razor-network

Who are Razor Network current partners and backers? What the future strategic partnership plans?

Pankaj Shukla,
Razor Partnerships: Knit Finance, MOAR Finance, Plutos Network, Litentry, VortexDeFi, CellFrame, Injective Protocol, Ambee, MobiFi, SpiderDao, Web3API, Paid Network, Elrond, Algorand, Moonbeam, Meter, Dafi, Sentinel Network, OpenDeFi, Conflux, Mantra Dao, XinFin’s XDC, Persistence, Skale, Matic Network.

Hrishikesh | Razor.network |
Prominent backers include as NGC ventures, Spark Digital Capital, IOSG, Alameda research, etc. Our backers also includes Mariano Conti, who created the original MakerDao oracle 🙂

We continue to reach out to dapps, chains and validators regularly to create more partnerships.

What are the major milestones Razor Network achieved so far and what are in future pipeline?

Hrishikesh | Razor.network |
We have completed the development of our first version. We are implementing bug fixes and minor UX issues. We have successfully completed our first incentivized testnet without issues. More details: https://medium.com/razor-network/razor-network-incentivized-testnet-phase-1-completed-on-polygon-1f39bebabffb

We have developed and released our network explorer and staking portal razorscan.io
We have partnered with a large number of projects in the space and will continue to increase the number of partners in the coming months.

In Q2 this year we are planning mainnet release. In Q4 we are targeting the second release of our mainnet with more advanced features and take the oracle security to the next level.

QUESTIONS TWITTER

While I was going through your Architecture Overview, I learnt that Razor network consists of 4 parts which are: Oracle, Job manager, Client application, and User. Can you tell us about each of these parts and the functions they perform in the network? What are its benefits?

Hrishikesh | Razor.network |
Functions of the various parts in razor network:
Oracle : reach consensus regarding external data.
Job Manager: This contract manager queue of pending queries and results of processed queries.
Delegator: Proxy contract provides access to the latest Job Manager contract.
Client application: For stakers to stake RAZOR and report data.
User: End user of oracle.

RAZOR claims to be a fully decentralized oracle network with built-in governance. However, developing decentralized oracle is deemed a challenging issue due to possibility multiple kinds of attacks such as collusion, takeover, etc. Will RAZOR be able to withstand all the attacks?

Hrishikesh | Razor.network |
Razor network is designed from the ground up to provide maximum game-theoretical security without compromising speed. This means it’s impossible to profitably attack the oracle profitably. Apart from that, Razor is fully decentralized, permissionless, and fast.
Most of the oracles use the Schellingcoin mechanism. The mechanism is flawed and is vulnerable to various attacks. Razor uses a modified Schellingcoin algorithm with a sliding court mechanism. This includes an iterative dispute resolution mechanism which makes it robust against all kinds of game theoretical attacks.

We are in contact with leading auditors in the space to audit our smart contracts. We will get the audit completed before mainnet release.
We follow the best industry practices for writing smart contracts. We have close to 100% test coverage and use static analysis tools to minimize possible vulnerabilities.

Razor Network is a permisionless network meaning anyone can run its node. What I want to know is the requirement to fully run the nodes and participate on your network’s security. What are the requirement for running Razor Network’s nodes both?

Hrishikesh | Razor.network |
Razor is a permissionless network. Anyone can stake $RAZOR to become staker. You do not need anyone permission. Server requirements are 4gb RAM, 4 Core (arm64 or amd64 architecture). You will need certain amount of minimum RAZOR tokens to be a staker. This is decided by governance. However to delegate there is no minimum requirement.

You mentioned wanting to make an update to your scanner, so can you tell us what improvements and changes you made to the Razorscan V2? Also, what sets it apart from other network browsers?

Hrishikesh | Razor.network |
Users can delegate their $RAZOR to other stakers. A simple portal is created for users to delegate their razor at razorscan.io

Since running a node and becoming a staker is a big responsibility and requires some technical knowledge, not everyone will be interested in that. Those users can easily delegate their tokens to one of the existing stakers in the network. They can go to razorscan.io and delegate their tokens on any of the stakers based on their performance, commission, reputation, etc.
New features include, faster loading, filters, delegation, governance parameters browsing, unlimited assets, exploring maturity, influence, performance of various stakers, etc.

Many projects claim that the community is very important to them, but in reality they do not value it very much. What is the role of the community in building the Razor Network ecosystem? How do you strengthen the community for long-term success?

Hrishikesh | Razor.network |
Community is very important to us and we incorporate community feedback and suggestions in every decision.

When our mainnet is live, our validator and delegators community will be essentially running and governing the network. Hence they will be cruicial to the success of the project.

I welcome Infinity chain group to join our communities and look out for major announcements.

Telegram Community — https://t.me/razornetwork
Telegram Announcement Channel — https://t.me/razor_announcement
Our twitter: https://twitter.com/razor_network

QUESTIONS TELEGRAM

Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about??

Hrishikesh | Razor.network |
-Truly decentralized and permissionless.
-Flexibility to request results in an automated and manual fashion.
-Game theoretically sound and resistant to collusion, bribing, Sybil
and censorship attacks.
-Blockchain agnostic with many partnerships and integrations.

Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one??

Pankaj Shukla,
Hey, yes we do have an ambassador program which we have been running from alomost two years now, we open up the entries from time to time, stay updated on our social to apply next time we open the forms!

https://twitter.com/razor_network/status/1442483278628339717?s=20&t=kgNEzMkdMqo4lFbOYynIag

Having smart contracts access to external data is usually done by using “centralized” oracles. But Razor has a “decentralized” oracle network. How do you achieve this? What advantages do you see on being decentralized compared to traditional ones?

Hrishikesh | Razor.network |
Decentralization is an important goal of the network. This is because centralization puts a high amount of power in a small group of entities, which makes a lot of attacks feasible and jeopardizes the trustworthiness of the protocol.

Razor network is fully decentralized and does not have centralized bottlenecks. Anyone can become a validator in Razor by staking Razor tokens. It does not require permission from us or anyone else.

We encourage decentralization in the protocol through the following ways:
A fair and wide distribution of tokens
The protocol is permissionless. We, or anyone else, don’t have the power to decide who is allowed or otherwise, to participate in the network.
Queries are randomly assigned to the stakers, making collusion and bribing difficult. Secret voting and dispute mechanism makes it secure from bribery attacks.

Staking programme is very important for any project,? Can i stake your token,? Do you have any plan of starting staking programme,? 

Pankaj Shukla,
yes, we have a staking program that is running currently you can find all the details here: https://twitter.com/razor_network/status/1501554791390265346?s=20&t=kgNEzMkdMqo4lFbOYynIag

Hrishikesh | Razor.network |
Razor network is a proof of stake network. Once our mainnet is launched, anyone can stake their $RAZOR to become a data validator.
Users can also delegate their $RAZOR to other stakers. A simple portal is created for users to delegate their razor at razorscan.io

| Telegram Chat | Telegram Channel | Twitter | Website | Github | Medium | Discord |

Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about RAZOR NETWORK.

Join our Telegram Group and you can talk directly with other Communities and enjoy some of the events that we created. We are always here to support.

--

--

--

Telegram Chat : @InfinityChains Telegram ANN : @InfinityChain_News Twitter : twitter.com/Infinity_Chains Website : Infinitychain.news

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Blockchain lets you take control of your own data

Design Principles of Thinkium World Mechanism

Journey through Blockchain

Recap: AMA with Mr. Hoang Duong — CEO of Meychain

Introducing BlueBit

The cryptography behind Cardano blocks

LM FAM x MContent — AMA Recap

HSC Monthly Report: July Progress Review

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Infinity_Chain News

Infinity_Chain News

Telegram Chat : @InfinityChains Telegram ANN : @InfinityChain_News Twitter : twitter.com/Infinity_Chains Website : Infinitychain.news

More from Medium

Here’s our 238 AMA recap!

Tachyon Protocol Weekly Report #137

Zunami Protocol

(EN) Mad’s Crypto Corner #AMArathon with KoiStarter Recap