PAID Network is proud to announce its partnership with Razor Network, a decentralized, trustworthy, fast and scalable oracle service for blockchains. Razor Network provides data to blockchains without it being corrupted, attacked or compromised. At its core are a set of smart contracts, that can run on any Ethereum compatible blockchain and uphold certain properties such as censorship resistance, security from network partition attacks, bribe attacks etc.
Razor will use PAID Network’s MVP once released to streamline new and existing processes within its business model.
Hrishikesh Huilgolkar, CEO of Razor Network had the following to say:
“Today, we are excited to announce that Razor Network will partner with Paid Network to use their MVP for our business needs. This will enable us to work more efficiently towards providing a state-of-the-art decentralized Oracle solution to blockchain applications.”
The oracle problem is a well-known one in the blockchain space and is difficult to solve. Oracles retrieve and verify external data for blockchains and smart contracts through web APIs or market data feeds. Due to the lack of reliable decentralized oracle services, most DeFi projects rely on centralized ones. This is where Razor Network is changing the game as it is the first truly decentralized, general-purpose oracle network, which is both fast and secure.
Kyle Chasse, CEO of PAID Network, had the following to say:
“The need for security is a common theme across the blockchain industry, which is also a key theme for us as we build PAID’s SMART Agreement DApp. So I couldn’t be happier to share our technology with Razor, allowing them to secure and maximize their business operations, empowering them to scale to new heights through the use of our MVP, once we bring it to market.”
About Razor Network
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. The network consists of validators who lock in their tokens as a “Stake” and provide data to the network. The honest validators are rewarded and those who report incoherently are penalized. The network is designed from the ground up to be robust and resistant to various game-theoretical vulnerabilities.
About PAID Network
PAID Network seeks to redefine the current business contract, litigation, and settlement process by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID. Leveraging Plasm to operate on both Ethereum and Polkadot ecosystems, SMART Agreements built through smart contracts execute DeFi transactions and business agreements seamlessly, making business exponentially more efficient.
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