United States, Feb 3, 2021 /AlexaBlockchain/ – PAID Network today announced it has partnered with Razor Network, a decentralized, trustworthy, fast and scalable oracle service for blockchains. Razor will use PAID Network’s MVP once released to streamline new and existing processes within its business model.
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.
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.
Razor Network will leverage PAID Network’s MVP to work more efficiently towards providing decentralized Oracle solution to blockchain applications.
Hrishikesh Huilgolkar, CEO of Razor Network, said:
“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.”
Kyle Chasse, CEO of PAID Network, said:
“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.”