INTRODUCTION
In the development of codes, machines, and programs with the ability to and feed on normal human data, humanity has come to the use of robots, AI. A further step ahead of this is the feeding of this info into the blockchain. In doing this, it is neccesccasy to create an entity capable of interpreting, accesing, and feeding the blockchain with real-world data. The name of this entity is Oracle. Though this is a giant step for all mankind, it still comes with its shortcoming which gaming the Oracle is just one of many. Oracle as an entity also doesn’t work well in the long term. With these challenges comes the solution, which is called Razor Network.
What Is Razor Network
Razor Network is a decentralized Oracle system with built-in governance with the ability to withstand bribing attacks due to its use of a high degree of redundancy to combat many kinds of game theory manipulation.
Razor Network uses a proof of stake algorithm with a utility token called SCHELL. With these tokens, users can stake and thereby have a stake in the governance of the platform. The user who reports any anomaly on the network gets rewarded while the user who doesn't by knowingly non-reporting the anomaly also gets deducted. By this, the governance of Razor Network is kept in place. The network measures anomaly by the use of Median Absolute Deviation (MAD). A cycle of the oracle journey to and fro the Razor Network is called Epoch, and the epoch are in five stages obeying two simple rules: Commit and Result. To commit is to stake, withdraw, unstake in one single epoch. To reveal is to come out with the result. SCHELL tokens are ERC-20 tokens on Ethereum mainnet, it's also used as a block reward. Staking and changing parameters are the uses of Schells.
The razor Network is made of four (4) parts :
1. Oracle
2. Job manager
3. Client application
4. User.
The oracle is made up of stakers, the stakers deposit their schells tokens to be able to participate. It's the work of the stakers to query and prove every data or job queries sent on the network and after that submit it to Oracle. The validation can be done either manually or automatic depending on if the result is disputed or not. The job manager on the other hand brings in all queries from the client application and arranges them according to the order of the fees paid. The client application uses the oracle, it's the application through which users can access the permissionless Razor Network by paying the fees to the oracle. The users are those using the client application to access the Razor Network.
There are 3 layers on the Razor Network,
1. Oracle layer
2. Job manager
3. Client application
The two major tiers on Razor Network are the stakers and clients
Razor Network is fully becoming a hub for AI and robotics. With access to the decentralized database, the moon is the limit to how much solutions can come from feeding real-life data into Razor Network for optimum predictions and solutions The solidity of the network is made possible by its stakers, users with Schells are to stake their schells to be able to access the client application.
The Razor Network is with many use cases, which is creating an open market for developers who depends on real-life data to process their projects and dapp. It also gives developers the chance to come up with their projects to utilize the Schells token.