1606206890
What is Razor Network Blockchain Platform (SCH) | What is SCH token
Razor Network is a decentralized oracle network. The goal is to create a decentralized oracle that offers maximum game-theoretical security without compromising speed.
Razor serves data from the real world to the smart contracts
Let’s explore the goals of the protocol.
High economic security
Economic security is the amount of financial resources required to compromise a network. Any decentralized network can be compromised with high enough financial resources. However, if the financial benefits of compromise are less than the cost, it is unprofitable to attack the network, hence unlikely that anyone will attempt to do so.
Providing high economic security is one of the biggest design goals for this protocol. There is a clear need for an oracle protocol that provides this feature. Providing high and calculable economic security provides guarantees for applications to be secure until a certain degree of economic value.
Razor provides the same economic security to all requests regardless of the fees being paid.
Do note that if the results are disputed, the economic security provided is higher in the dispute round, since more stake is involved in the dispute phase if the dispute rounds are also disputed, the economic security doubles in every dispute round.
High degree of decentralization
Blockchain is sometimes referred to as a “trust machine”. This is because blockchain removes the need for trusting intermediaries and allows a platform to do peer to peer transactions without counterparty risk. Many decentralized applications are taking advantage of this property to build decentralized financial applications.
It is essential to for oracle platforms to have a high degree of decentralization, which means that to compromise the network, a large number of entities need to be compromised.
To achieve this, Razor uses a proof of stake network where a large number of individual stakers can participate. Razor acts as an abstraction layer between clients and stakers so that any stakers can join and leave the network without having any effect on the client applications. Game theoretical and cryptographic measures such as commit-reveal scheme provides further collusion and censorship resistance.
Protection of stakers from various attacks
The dispute resolution system in Razor protects honest stakers from selective misinformation and collusion attacks.
Protection of clients from malicious stakers
A proof of stake consensus protocol is used in Razor to punish malicious stakers. This protects the clients from malicious stakers who may try to report incorrect or inaccurate data points in order to influence the result.
Ease of use for application developers
In Razor, decisions such as choosing a level of economic security, aggregation function, selecting stakers, etc. have been abstracted away for the benefit of developers. Developers can quickly and safely integrate Razor without knowing the underlying architecture.
Collusion and bribing attack resistance
Due to the layered design and possibility of disputing results, Razor Network is resistant to such attacks. Collusion and bribing may be possible at one round of the oracle, but such results will likely be disputed and will be overturned in the dispute rounds.
Razor Network team is proud to announce a new paradigm of decentralized finance.
RealityAware Tokens are a new lean way to do finance. We are bringing a new standard for tokens, which can be used for creating next-generation decentralized applications with less effort.
RealityAware Tokens are aware of real-world events and can react differently depending on real-world events or data. Let’s take a look at traditional finance and how it compares to the current and next-gen DeFi.
Traditional Finance
Traditional finance consists of counterparties who sign an agreement and the Judicial system, which interprets the contract and enforces it.
Traditional finance
Traditional finance has counterparty risks. Paper contracts can be ambiguous and expensive to prepare. It can take a lot of time and financial resources to resolve disputes.
Current generation Decentralized Finance
The challenges of traditional finance can be overcome using DeFi.
Current generation decentralized finance
Decentralized finance attempts to remove counterparty risk by making some changes to traditional finance. However, Smart contracts are not aware of real-world data. Another entity called “oracle” must be introduced to report real-world data to the DeFi smart contracts. The oracle is often a centralized entity. This pretty much erases the biggest benefit of the DeFi.
Putting entire architecture in a single monolithic application is very time and resource-intensive. This has lead to long development times and many security holes in DeFi apps. Many applications end up reinventing the wheel and rewriting many parts of the application, which may have already been developed by other application developers.
Next-gen DeFi using RealityAware tokens
Most decentralized applications depend on real-world data. Since ERC20 tokens do not have access to real-world data, their use-cases are limited without complex logic to acquire that real-world data. RealityAware tokens are aware of real-world data and can perform various functions that depend on that data easily.
RealityAware tokens are new primitives for creating next-gen DeFi applications. These can be used for many use cases without even writing a smart contract.
Complex contracts and applications can be developed using them. These primitives are standards with ready-made audited code. This means the applications created with them should not take a long time to audit and debug.
Reality aware tokens use Razor Network Oracle to get data from the real world. The logic is built-in within the tokens, and no additional effort is required to develop an application and integrate it with an oracle solution. Razor network is truly decentralized and solves the counterparty risk. 
Simple bet using RealityAware tokens
The above example shows how simple bet can be made using RealityAware tokens and without writing a new smart contract.
Features of RealityAware tokens
RealityAware tokens are modified ERC20/ERC721 contracts, which can allow and disallow certain functions depending on real-world data.
Some of such functions are:
- transfer
- tranferFrom
- approve
- wrap
- unwrap
- transferCollateral
As you can see, these tokens can be used to wrap or unwrap any supported tokens. In this way, any ERC20/ERC721 tokens can be wrapped in RealityAware tokens to make those tokens sensitive to the real-world data. Functions will be added/removed before finalizing the standard.
Would you like to earn token right now! ☞ CLICK HERE
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☞ Whitepaper
☞ Source Code
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1606206890
What is Razor Network Blockchain Platform (SCH) | What is SCH token
Razor Network is a decentralized oracle network. The goal is to create a decentralized oracle that offers maximum game-theoretical security without compromising speed.
Razor serves data from the real world to the smart contracts
Let’s explore the goals of the protocol.
High economic security
Economic security is the amount of financial resources required to compromise a network. Any decentralized network can be compromised with high enough financial resources. However, if the financial benefits of compromise are less than the cost, it is unprofitable to attack the network, hence unlikely that anyone will attempt to do so.
Providing high economic security is one of the biggest design goals for this protocol. There is a clear need for an oracle protocol that provides this feature. Providing high and calculable economic security provides guarantees for applications to be secure until a certain degree of economic value.
Razor provides the same economic security to all requests regardless of the fees being paid.
Do note that if the results are disputed, the economic security provided is higher in the dispute round, since more stake is involved in the dispute phase if the dispute rounds are also disputed, the economic security doubles in every dispute round.
High degree of decentralization
Blockchain is sometimes referred to as a “trust machine”. This is because blockchain removes the need for trusting intermediaries and allows a platform to do peer to peer transactions without counterparty risk. Many decentralized applications are taking advantage of this property to build decentralized financial applications.
It is essential to for oracle platforms to have a high degree of decentralization, which means that to compromise the network, a large number of entities need to be compromised.
To achieve this, Razor uses a proof of stake network where a large number of individual stakers can participate. Razor acts as an abstraction layer between clients and stakers so that any stakers can join and leave the network without having any effect on the client applications. Game theoretical and cryptographic measures such as commit-reveal scheme provides further collusion and censorship resistance.
Protection of stakers from various attacks
The dispute resolution system in Razor protects honest stakers from selective misinformation and collusion attacks.
Protection of clients from malicious stakers
A proof of stake consensus protocol is used in Razor to punish malicious stakers. This protects the clients from malicious stakers who may try to report incorrect or inaccurate data points in order to influence the result.
Ease of use for application developers
In Razor, decisions such as choosing a level of economic security, aggregation function, selecting stakers, etc. have been abstracted away for the benefit of developers. Developers can quickly and safely integrate Razor without knowing the underlying architecture.
Collusion and bribing attack resistance
Due to the layered design and possibility of disputing results, Razor Network is resistant to such attacks. Collusion and bribing may be possible at one round of the oracle, but such results will likely be disputed and will be overturned in the dispute rounds.
Razor Network team is proud to announce a new paradigm of decentralized finance.
RealityAware Tokens are a new lean way to do finance. We are bringing a new standard for tokens, which can be used for creating next-generation decentralized applications with less effort.
RealityAware Tokens are aware of real-world events and can react differently depending on real-world events or data. Let’s take a look at traditional finance and how it compares to the current and next-gen DeFi.
Traditional Finance
Traditional finance consists of counterparties who sign an agreement and the Judicial system, which interprets the contract and enforces it.
Traditional finance
Traditional finance has counterparty risks. Paper contracts can be ambiguous and expensive to prepare. It can take a lot of time and financial resources to resolve disputes.
Current generation Decentralized Finance
The challenges of traditional finance can be overcome using DeFi.
Current generation decentralized finance
Decentralized finance attempts to remove counterparty risk by making some changes to traditional finance. However, Smart contracts are not aware of real-world data. Another entity called “oracle” must be introduced to report real-world data to the DeFi smart contracts. The oracle is often a centralized entity. This pretty much erases the biggest benefit of the DeFi.
Putting entire architecture in a single monolithic application is very time and resource-intensive. This has lead to long development times and many security holes in DeFi apps. Many applications end up reinventing the wheel and rewriting many parts of the application, which may have already been developed by other application developers.
Next-gen DeFi using RealityAware tokens
Most decentralized applications depend on real-world data. Since ERC20 tokens do not have access to real-world data, their use-cases are limited without complex logic to acquire that real-world data. RealityAware tokens are aware of real-world data and can perform various functions that depend on that data easily.
RealityAware tokens are new primitives for creating next-gen DeFi applications. These can be used for many use cases without even writing a smart contract.
Complex contracts and applications can be developed using them. These primitives are standards with ready-made audited code. This means the applications created with them should not take a long time to audit and debug.
Reality aware tokens use Razor Network Oracle to get data from the real world. The logic is built-in within the tokens, and no additional effort is required to develop an application and integrate it with an oracle solution. Razor network is truly decentralized and solves the counterparty risk.
Simple bet using RealityAware tokens
The above example shows how simple bet can be made using RealityAware tokens and without writing a new smart contract.
Features of RealityAware tokens
RealityAware tokens are modified ERC20/ERC721 contracts, which can allow and disallow certain functions depending on real-world data.
Some of such functions are:
- transfer
- tranferFrom
- approve
- wrap
- unwrap
- transferCollateral
As you can see, these tokens can be used to wrap or unwrap any supported tokens. In this way, any ERC20/ERC721 tokens can be wrapped in RealityAware tokens to make those tokens sensitive to the real-world data. Functions will be added/removed before finalizing the standard.
Would you like to earn token right now! ☞ CLICK HERE
Looking for more information…
☞ Website
☞ Whitepaper
☞ Source Code
☞ Social Channel
☞ Message Board
Thank for visiting and reading this article! I’m highly appreciate your actions! Please share if you liked it!
Create an Account and Trade NOW
☞ Binance
☞ Bittrex
☞ Poloniex
#blockchain #bitcoin #cryptocurrency #razor network #razor
1622187022
Tangle vs Blockchain: Difference Between Tangle & Blockchain
Cryptocurrency is a digital medium of exchange that uses encryption to send and receive money. The most frequently utilised cryptocurrency for which Blockchain technology was created is Bitcoin. Despite the fact that Blockchain has been the standard cryptocurrency technology for the past few years, concerns about speed and scalability have led to the creation of other solutions.
Tangle is a relatively young cryptocurrency. In this essay, we’ll look at the latest dispute between Tangle and Blockchain to see which is the better option.
What is Blockchain?
Blockchain is a transaction ledger that is cryptographically secure. Bitcoin, Litecoin, and Ethereum, as well as other cryptocurrencies, are all accepted. The ledger is made up of transaction blocks that are cryptographically connected to each other. Each block is linked to the previous one, preserving the ledger’s whole history.
All of the machines involved in these transactions are known as nodes. Each node authenticates transactions independently. This means that after both nodes have confirmed a transaction, it can proceed.
Want to learn more about Blockchain Technology? Blockchain certification courses could be the best to get started with.
What is Tangle?
Tangle is a bitcoin transaction technology that works in a similar fashion to Blockchain. Here, a directed acyclic graph (DAG) is used, which is similar to a distributed ledger. DAG is not governed by any external entity, such as a bank or a financial organisation.
Tangle is IoT-friendly, which is the cherry on top (Internet of Things). The Internet of Things (IoT) is a network of interconnected devices that can exchange data and communicate with each other. Tangle will be able to conduct large-scale transactions between multiple linked devices swiftly and seamlessly as a result of this.
What are the differences between a tangle and a blockchain?
Structure — A blockchain is made up of a lengthy, ever-growing chain of nodes, or data blocks, each one linked to the one before it. A tangle, on the other hand, is made up of data nodes that all flow in the same direction. And, unlike blockchain, which may technically loop back on itself in a circular pattern, the tangle can only go in one direction at a time and cannot reverse. This enables speedier data transport.
Security – Due to its arduous block-formation process, which involves the solution of a mathematical problem and verification through group consensus, blockchain has a higher level of security. Before a device can complete its own transaction and thus create a data node, it must first validate two previous transactions. The tangle is less secure than blockchain due to this less robust procedure.
Decentralization — Both blockchain and the tangle are decentralised systems, which means they are free of outside meddling and the fees and hurdles that come with it. The tangle, however, has had to erect a safety net, which it refers to as a “coordinator node.” This node effectively puts a centralising aspect into the tangle’s structure, putting to rest claims that it allows for entirely independent, uninterrupted transactions between IoT units.
Wrapping up
In this case, blockchain has a clear advantage. It’s significantly more secure than Tangle and supports decentralised apps. Blockchain is becoming more popular among businesses and users for cryptocurrency transactions.
Tangle is still in its infancy and has faults. The technique can’t be labelled truly decentralised because it relies on a central coordinator node. This node checks that transactions are genuine, however Tangle data is not entirely self-contained in this regard. Because the node addition protocol is less precise than Blockchain, it is also less secure.
#blockchain technology #blockchain professionals #blockchain platform #blockchain platform #blockchain council
1606217442
Blockchain Certification | Blockchain Training Course | Blockchain Council
In all the market sectors, Blockchain technology has contributed to the redesign. The improvements that were once impossible have been pushed forward. Blockchain is one of the leading innovations with the ability to influence the various sectors of the industry. It also has the ability to be one of the career-influencing innovations at the same time. We have seen an increasing inclination towards the certification of the Blockchain in recent years, and there are obvious reasons behind it. Blockchain has everything to offer, from good packages to its universal application and futuristic development. Let’s address the reasons why one should go for Blockchain certification.
5 advantages of certification by Blockchain:
1. Lucrative packages- Everyone who completes their education or upskills themselves wants to end up with a good bundle, not only is one assured of a good learning experience with Blockchain, but the packages are drool-worthy at the same time. A Blockchain developer’s average salary varies between $150,000 and $175,000 per annum. Comparatively, a software developer gets a $137,000 per year salary. For a Blockchain developer, the San Francisco Bay area provides the highest bundle, amounting to $162,288 per annum. There’s no point arguing that learning about Blockchain is a smart decision with such lucrative packages.
2. Growing industry- When you select any qualification course, it becomes important that you choose a growing segment or industry that promises potential in the future. You should anticipate all of these with Blockchain. The size of the blockchain market is expected to rise from USD 3.0 billion in 2020 to USD 39.7 billion by 2025. This will see an incredible 67.3 percent CAGR between 2020-2025. To help business processes, several businesses are outsourcing Blockchain technologies. This clearly demonstrates that there will be higher demand in the future for Blockchain developers and certified Blockchain professionals.
3. Universal application- One of the major reasons for the success of Blockchain is that it has a global application. It is not sector-specific. Blockchain usage cases are discovered by almost all market segments. In addition, other innovations such as AI, big data, data science and much more are also supported by Blockchain. It becomes easier to get into a suitable industry once you know about Blockchain.
**4. Work protection-**Surely you would like to invest in an ability that ensures job security. You had the same chance for Blockchain. Since this is the technology of the future, understanding that Blockchain can keep up with futuristic developments will help in a successful and safe job.
**5.**After a certain point of your professional life, you are expected to learn about new abilities that can help enhance your skills. Upskilling is paramount. Upskilling oneself has become the need for the hour, and choosing a path that holds a lot of potential for the future is the best way to do this. For all computer geeks and others who want to gain awareness of emerging technology, Blockchain is a good option.
Concluding thoughts- opting for Blockchain certification is a successful career move with all these advantages. You will be able to find yourself in a safe and secured work profile once you have all the knowledge and information. Link for Blockchain certification programme with the Blockchain Council.
#blockchain certificate #blockchain training #blockchain certification #blockchain developers #blockchain #blockchain council
1612847259
Top 5 Blockchain Platforms to watch for in 2021
The increasing demand for Blockchain technology has led to the surge in demand for Blockchain professionals, and its increasing use cases have made different businesses realize its potential. Hence, many of the big names are actively investing in exploring different avenues of this technology.
Blockchain is a distributed ledger technology that provides a decentralized platform where information exchange occurs without third-party intervention. When we talk about Blockchain platforms, you would have noticed that there are different platforms, some of which are public, while others are permissioned. The latter is the area of interest for most of the banking institutions in the present scenario. There is a growing talk about permissioned Blockchain platforms because they are highly secure, and it has its members authorizing the exchange.
These platforms allow the Blockchain development based applications and some of the interesting ones include Ethereum, Hyperledger, Corda, R3 and EOS. These are only a handful of names, while there are many others in the making and others are in use. If you are still wondering why you need to invest in Blockchain platforms, then you have to take into account the benefits that these platforms offer:
- Check what type of Blockchain platform will be best for your business
- What kind of languages does it support
- Check the reputation of the platform
- Don’t miss to check the scalability of the platform
Top 5 platforms that you should be looking forward to:
Stellar: This is a distributed ledger platform that allows the exchange of assets. It allows exchange between fiat currencies and cryptocurrencies. This platform can be used for smart devices, mobile wallets and banking tools.
Tezos: The next in our list is Tezos which is linked to digital token Tozzi. However, you must know that this platform is not based on the mining of Tez. The users are rewards for participating in the proof-of-stake consensus mechanism.
Hyperledger fabric: This is a popular name, and was developed by Linux Foundation. It is a permissioned Blockchain platform that aims at providing an enterprise-level solution.
Hyperledger Sawtooth: This platform was launched by Linux and contributed by IBM and digital assets. It offers an enterprise-level solution. This platform has been created to execute distributed ledgers, which helps maintain digital records without any central governing authority.
Ripple: It came into existence in 2012. This platform has been developed to connect different payment providers, banks and digital asset exchanges via the Blockchain network. The global payments take place via XRP or Ripple.
This is built on advanced Blockchain technology, and Ripple is faster and more scalable than other Blockchain.
These are some of the popular Blockchain platforms that have garnered a lot of attention from the investors and companies.
The way ahead:
In the times to come, we will witness a rise in the demand for Blockchain experts and Blockchain developers who will help in leveraging Blockchain technology for the growth of the business. If you want to learn more about Blockchain technology and its benefits, this is the right time to begin. Connect with the Blockchain Council to know more about the various certification programs in the Blockchain domain.
#blockchain platform #blockchain technology #blockchain expert #blockchain training #blockchain council
1598265735
5 Blockchain Applications That Have Transformed the World of Technology
The blockchain is the decentralized database of the blocks of information, which gets recorded in the chain format and linked in a secured crypto graphical manner. This technology ensures proper safety of the data due to its secure nature, and it totally changes how people carry out transactions. It also brings about a faster and secure process of validating information needed to establish reliability.
Though blockchain technology came into the market to carry out only digital transactions, it is now used in various industries like supply chain, finance, health care, and many more.
The blockchain technology has made its position in mobile app development as well. Blockchain applications are transparent and accountable. From getting easy access to medical records and buying insurance, you can see blockchain applications everywhere.
Here are some of the areas where you can see the use of blockchain applications and how they have changed various industries.
1. Ripple
Ripple is useful for increasing banking transactions. The implementation of blockchain technology in the financial sector is much more profound than any other sector. Ripple proves this. It is one of the greatest tools to record and complete financial transactions.
It develops a large network despite strict physical boundaries. As there is no such third-party involvement present, the cost of these transactions is lower than usual. At the same time, the network also remains transparent and quite secured.
It is normally seen that financial transactions that happen globally are
error-prone and take a lot of time. In addition to this, when the transaction
fees and exchange rates get added up, the total cost usually gets high.
However, Ripple offers real-time international transactions without spending too much money. It has the network of about 200+ institutions making the process affordable, secure, and fast for all sorts of international transactions.
2. Etherisc
This blockchain application helps in automating flight insurance. Insurance is another area where blockchain is gaining popularity. Through this application, insurers can make smart contracts rather than getting involved in the traditional contracts that are usually complex. Etherisc is the blockchain application that helps customers buy flight insurance. If the flight gets canceled or delayed, they do not have to wait for months to get the payment back. This application ensures an on-time payout.
#blockchain #blockchain-technology #blockchain-development #blockchain-use-cases #blockchain-a #blockchain-technologies #technology #decentralization