Blockchain Innovation: A Truly Decentralized Oracles
Blockchain technology allows everyone to transact without waiting for a central authority for confirmation and this has increased the volume of people involved in this new technology.
The growth experienced on this network activated some problem that now becomes major on transaction confirmation. It is certain that for every transaction there is a need to pay a certain amount of fee for transaction confirmation and this transaction fee due to the number of people that transact per second has caused congestion, high transaction fee and delay in transaction confirmation.
Do we stop people from using blockchain technology?
Do we limit the number of transaction to be confirmed per day?
Doing any of the above will definitely reduce the solution blockchain set to solve, rather we need a solution that allows people to transact comfortably and limit or rule out the scalability problem.
Razor Network is a decentralized Oracle network for Open Finance also known as DeFi. In one of the features of this project, they set up smart contracts, that can run on any Ethereum compatible blockchain and produce censorship resistance and security from network partition attacks.
You are asking, what is this has to do with scalability solution!
The ability of the project to see people's want and attend to it provide trust for such project. RAZOR Network is one of this project.
Recently, Razor Network listed on ChainSwap a cross-chain asset bridge & application hub for smart chains. This listing has positioned RAZOR to network on Binance Smart Chain and HECO, what an amazing upgrade.
High transaction fee, delay in transaction confirmation, security problem, all this sorted.
Are you a holder of the RAZOR ERC20 token and thinking of buying it? Well, remember to crosscheck the token you are dealing with on coingecko but again the contract address is 1 none matter the network you are using
As the blockchain industry grows, it is certainly new technology will come with upgrades that will further strengthen the new age of transaction we venture into.
As we progress, make sure you do your own research about Razor Network and submit your findings.