BlockTalks x Razor Network AMA Transcript!
By: Block Talks
Tags: Decentralization, Oracle, Razor Network, Decentralized Oracles

Questions Asked on Twitter For Razor Network Team!

Q1. Razor Network is blockchain agnostic. Now that you have this feature, what advantages do you offer for different blockchains? How does the Consensual Reality algorithm work and how does it fit into each platform?

Ans — As we know Ethereum blockchain has been very successful in attracting developers and to start the DeFi revolution. However, the scalability challenges of ethereum are becoming clear. This shows a need for Layer 2 and other scalability solutions.

Razor network is blockchain agnostic and can be deployed to any ethereum compatible blockchain. Different blockchains have different properties regarding privacy, scalability, security, etc. This gives us freedom to use any blockchain which has suitable properties and allows us to serve applications on multiple platforms.

Q2. Recently, Razor has joined Conflux to bring its decentralized Oracle service to a new world of DeFi and Web3.0 DApps. Do you plan to become part of Polkadot through this partnership? How will conflux help you improve your Oracle?

Ans — Conflux Network is an open decentralized network built to drive the next generation of global commerce by unlocking the DApps of the future. Conflux enables the secure and interoperable flow of assets and information across protocols & applications, which forms the basis on which Web3.0 will be built.

Conflux integrates Proof of Work consensus into a novel Tree-Graph consensus mechanism that optimizes security, scalability and decentralization, without compromising on any of the parameters. Today, Conflux is the only state endorsed public, permissionless blockchain in China. Future-ready DApps built on Conflux’s platform would be able to leverage a high throughput of 3000–6000 TPS and low transaction fees.

The Web3.0 ready DApps developed on Conflux’s platform would require access to reliable and secure data feeds from the external world, as their execution would be triggered by real world events in most cases. Razor’s decentralized oracle network offers maximum game-theoretical security without compromising on speed. Strict slashing penalties are imposed on bad actors, and honest nodes are incentivized through financial rewards.

The partnership between Razor and Conflux would guarantee that not only Conflux’s blockchain platform but also the external data that is available to the smart contracts remains 100% secure. This will empower DApp developers to create a range of sophisticated smart contracts, which would drive the decentralized applications in tune with the requirements of the next generation of financial applications, digital assets, business applications, and data economies.

you can read more on our recent blog post here:

Q3. I have read about Razor Network and use Oracle Network but I have doubts about their decentralization intentions, does Razor Network have a truly decentralized Oracle Network or do they retain some centralized bases?

Ans — 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 RZR 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 pseudorandomly assigned to the validators, making collusion and bribing difficult Commit reveal scheme for revealing the “votes” and dispute mechanism makes it secure from bribing attacks.

Q4. I read that of someone is not satisfied with the oracle, there is a dispute mechanism available for this issue. Can you explain briefly the step by step process of this dispute and the conditions for it to happen?

Ans — An attacker can bribe the majority of the stake in a trustless way and can compromise the results of the oracle. To prevent this, Razor Network has an in-built dispute resolution mechanism.

Any result of the oracle can be disputed by paying the “Dispute bond”, which can be paid collectively. The disputers win a reward of 50% of the dispute bond if they successfully dispute a round.

If the bond is successfully paid within the dispute period, the query enters a dispute round. In the dispute round, the stakes are higher, the amount of penalty for voting incoherently is higher and the queries are answered manually by the validators. The results of the dispute round can be further disputed. The amount of participating stake, and the dispute bond amount is doubled every round. If the disputer wins the dispute, their dispute bond is refunded, else it is confiscated and rewarded to coherent validators.

Due to this mechanism, even if an attacker compromises the oracle, the result will likely be disputed by an honest actor. The attacker will have to pay double the bribe to compromise the dispute round. Even if they are successful in doing that, that round will again likely be disputed and so on. This can go on till the whole network participates in the dispute round. If that round also fails to resolve the dispute, the network forks in two networks, and the market decides the honest fork.

Q5. Partnership are plays a crucial role behind success of every project. Can you share us with the recent partnership of Razor network?Also what are the benefits that we can expect from this partnership?

Ans — We are really proud to have a lot of really great partners already and are working on collaborating with more projects. You can read more about our current partnerships below:

Matic — Matic Developers will now be able to access verified data seamlessly through Razor’s Decentralized Oracle Services. This integration will add increased utility to the ever-growing developer ecosystem on Matic and allow application developers on Matic to use Razor Oracle. You can read more here —

https://medium.com/razor-network/razor-network-partners-with-matic-network-af6521b6771f

Skale — The Razor-Scale infrastructure will provide developers with the necessary tools to build highly scalable, secure, and high-performance DApps with access to real-world data on the SKALE platform. You can read more here —

https://medium.com/razor-network/razor-network-partners-with-skale-to-provide-access-to-real-world-data-8de0450a0306

Persistence — https://medium.com/razor-network/razor-network-inks-partnership-with-persistence-9b4efaa03428

OpenDeFi — https://bit.ly/3kl2RRr

XinFin’s XDC Blockchain Network — https://bit.ly/2Hxwly8

MantraDAO — https://medium.com/razor-network/mantradao-to-integrate-razor-networks-oracle-for-secure-price-feeds-bde14b4dff14

Conflux — https://bit.ly/3m4Q06y

Sentinel Network — http://bit.ly/3mgMiXz