Recap AMA Razor Network x Vietnam Coin Market Community

12 min readJan 14, 2021

Mr Hubert: Hello everyone,

Only 20 minutes left and the AMA event of RAZOR NETWORK will be started

The representative for Vietnam Coin Market (VCM) is Admin Owner @taitan296 who will run AMA and RAZOR NETWORK’s representative is @hrishikeshio, @himanshubisht, and @divij33.

Translator: @nguyetvcm

Vietnam Coin Market Group (VCM) will be locked to make the event convenient.

After Segment 2 of the Vietnam Coin Market group will be opened a chat so that the community can ask the project.

How’s everything going?

Again, it’s been my greatest pleasure to announce today’s special AMA session

“RAZOR NETWORK”

Today’s AMA session is composed of 4 parts:

1 — Say hello, introduce the project

2 — AMA moderator asks the project 4 questions that will be selected first)

3 — Ask the community (unmute the channel and let the community ask questions freely on telegram. Then the guests will choose about 10 good questions to answer)

4 — Quiz — Give 5 quizzes to the community to answer

Please like, follow, and retweet this tweet: https://twitter.com/chocoin_VN/status/1349342014614106115?s=20

Please join the Razor Network group:

https://t.me/razornetwork

https://t.me/razor_announcement

Craving for the question rain ahead after I unmute the group.

Anyway, let’s get the curtain roll-up and welcome @hrishikeshio, @himanshubisht, and @divij33.

Mr Divij: Hello Everyone. Glad to be here.

Mr Himanshu: Hi, VCM Tribe. happy to be here :)

Mr Hubert: Hello Divij and Himanshu.

It’s a pleasure to all of you who participated in the AMA today.

Mrs Nguyet: Hey Sir, Welcome to VCM Community ❤️.

Mr Hubert: Could you briefly introduce about yourselves as well as your project?

Mr Himanshu: Same here.

My name is Himanshu Bisht. I am a computer science engineer turned into an entrepreneur and marketer. With 6 years of experience in marketing and sales, now I am the head of marketing at Razor Network. excited to be here.

Mr Divij: I’m Divij, working as Head of Communications for Razor Network. I have a bachelors in Business Administration with a specialization in Marketing. I’ve been involved in the Blockchain Space for almost 4 years now and have worked with various projects over the years like LCX, DeFi Money Market, PlotX to name a few in roles ranging from Communications to Marketing.

Let me share a few lines about Razor.

Razor Network is a decentralized oracle network with a focus on Maximum game-theoretical security, complete decentralization, and being fully permissionless. Razor achieves this while still being fast and practical for Decentralized Finance. Razor network uses a sliding court mechanism where any result of the oracle can be disputed iteratively. This can thwart any attack that can happen on the oracle.

Mr Hubert: How wonderful, sir. The VCM audience is also eager to study the Razor Network project.

Looking forward to have our audiences to know more about the project and the views.

Let’s get to the first question we’d like to know from you.

What makes the Razor Network project stand out more than the projects in the same direction at the moment?

Mr Hamanshu: Great question.

Razor network is designed from the ground up to provide maximum game-theoretical security without compromising speed. This means it’s impossible to profitably attack the oracle. Apart from that, Razor is fully decentralized, permissionless, and fast.

Apart from that, we have the following differentiating factors:

1. Truly decentralized and permission-less

2. Only oracle to offer Fast AND Secure results

3. Flexibility to request results in an automated and manual fashion

4. Game theoretically sound and resistant to collusion, bribing, Sybil, and censorship attacks

5. In-house synthetic asset app “Razor Synthetic Assets” to increase adoption

Mr Divij: Let me also share an Infographic with you.

Mr Hubert: Wow. Great!

These special factors will bring success to the project. I think so.

Thank you, we could give some mins for our audiences to read more about the comment.

We will come to the next question:

Who are some business partner/clients for Razor Network?

Mr Divij: We are really proud to have a lot of really great partners already and are working on collaborating with more projects. You can read more about our current partnerships below:

Matic — Matic Developers will now be able to access verified data seamlessly through Razor’s Decentralized Oracle Services. This integration will add increased utility to the ever-growing developer ecosystem on Matic and allow application developers on Matic to use Razor Oracle. You can read more here -

https://medium.com/razor-network/razor-network-partners-with-matic-network-af6521b6771f

Skale — The Razor-Scale infrastructure will provide developers with the necessary tools to build highly scalable, secure, and high-performance DApps with access to real-world data on the SKALE platform. You can read more here -

https://medium.com/razor-network/razor-network-partners-with-skale-to-provide-access-to-real-world-data-8de0450a0306

Persistence — https://medium.com/razor-network/razor-network-inks-partnership-with-persistence-9b4efaa03428

OpenDeFi — https://bit.ly/3kl2RRr

XinFin’s XDC Blockchain Network — https://bit.ly/2Hxwly8

MantraDAO — https://medium.com/razor-network/mantradao-to-integrate-razor-networks-oracle-for-secure-price-feeds-bde14b4dff14

Conflux — https://bit.ly/3m4Q06y

Sentinel Network — http://bit.ly/3mgMiXz

Mr Hubert: Thank you for sharing this information. It’s amazing. I see a lot of partners that VCM audiences know about.

Can not hesitate any longer. We will explore the development of the project together:

What are the memorable milestones of Razor Network in the research and development process?

Mr Himanshu: Razor has successfully closed private round with $3.7m in total funding. You can explore more in CoinDesk’s recent article here: https://www.coindesk.com/razor-network-oracles-funding-round

We are also targeting the first version of the mainnet release in Q1 next year.

In Q3 this year we will release the second version with dispute resolution and manual queries and deltaOne mainnet release.

Lots of key events are lined up in next few weeks. Please stay tuned to our Announcement Channel for updates — https://t.me/razor_announcement

Mr Hubert: Feeling quite excited about this project, sir. I think everyone will love it and support it as well.

We to the last question of the Q-A segment:

What does Razor Network plan to do to attract more users in the upcoming time?

Mr Divij: Razor Network will not only target applications on the Ethereum mainnet, but we have also partnered with multiple L1 and L2 chains to offer a fully decentralized oracle on their platform.

We have also built an in-house synthetic asset platform called deltaOne which will utilize Razor oracle. This will bootstrap a user base for Razor oracle.

We are also part of the Association of Decentralized oracles, where we are collaborating with other oracle projects to standardize oracle integration. We believe that many projects will prefer to use multiple oracles instead of just one. This partnership will enable projects to easily integrate multiple oracles in their project.

Mr Hubert: How wonderful, sir. VCM will make a small contribution to the project support. Nice to do this. 😊

The last question is already done. Thank you @himanshubisht and @divij33 for bringing the above useful information.

Next, the Vietnam Coin Market team (VCM) will open a chat for the community to ask questions to the project. We will have 3 min to ask. The RAZOR NETWORK will then choose 10 questions to answer.

Note: Do not copy questions asked by other community AMAs about RAZOR NETWORK.

Let’s go!

Now!

Let’s give some mins for @himanshubisht, and @divij33 to choose 10 questions to answer.

@himanshubisht, and @divij33, you may proceed now.

Question 1. I have read about Razor Network and use Oracle Network but I have doubts about their decentralization intentions, does Razor Network have a truly decentralized Oracle Network or do they retain some centralized bases?

Decentralization is an important goal of the network. This is because centralization puts a high amount of power in a small group of entities, which makes a lot of attacks feasible and jeopardizes the trustworthiness of the protocol.

Razor network is fully decentralized and does not have centralized bottlenecks. Anyone can become a validator in Razor by staking RZR tokens. It does not require permission from us or anyone else.

We encourage decentralization in the protocol through the following ways:

1. A fair and wide distribution of tokens

2. The protocol is permissionless. We, or anyone else, don’t have the power to decide who is allowed or otherwise, to participate in the network.

3. Queries are pseudorandomly assigned to the validators, making collusion and bribing difficult

4. Commit reveal scheme for revealing the “votes” and dispute mechanism makes it secure from bribing attacks.

Question 2. Can you name specific features of Razor Network that makes it different from other Oracles in the crypto market?

Razor network is blockchain agnostic and can be deployed to any ethereum compatible blockchain. Different blockchains have different properties regarding privacy, scalability, security, etc. This gives us freedom to use any blockchain which has suitable properties and allows us to serve applications on multiple platforms.

It is designed from the ground up to provide maximum game-theoretical security without compromising speed. This means it’s impossible to profitably attack the oracle. Apart from that, Razor is fully decentralized, permissionless, and fast.

Question 3. What is Razor fairness and transparency? What technology of Razor helps ensure fairness and transparency for users?

Economic security is important for proof of stake. Several design decisions have been made to encourage higher economic security.

Proof of stake is the core consensus mechanism of Razor Network. Proof of stake allows Razor to achieve the following goals:

1. Proof of stake provides Sybil attack resistance. This is because becoming a validator requires staking tokens and doing that without owning tokens is not possible.

2. The algorithm rewards honest validators with new tokens. This incentivizes the validators to behave honestly and report valid data.

3. Dishonest/incoherent validators are penalized and their stake is reduced. This disincentivizes bad behavior. A part of the tokens collected as a penalty is distributed to honest stakers, further incentivizing honest behavior

We are in talks with leading security auditors and will be getting a thorough audit once we have finished the development of the first version of the oracle.

Governance is currently in active research and we may use a DAO or novel Oracle-based governance in the future.

Question 4. Where do I get information about your team? Why do you prefer to be anonymous? Do you have a plan to identify your team later?

Hey, you can find information about our Team on our website — https://razor.network/ the full team is mentioned there along with our advisors. We are already in the process of expanding our team.

Question 5. As a community based project, how can I donate my quota for your success? Do you have a Global Ambassador Program or a Referral Rewards System?

Indeed we value our community a lot and have a lot of things planned also we already have an Ambassador Program Running. You can find more details on how to participate here — https://t.me/razornetwork/18495

Question 6. As we know, every successful project has a few stories behind the scenes, what’s the story behind Razor Network success? What was that vision when it first emerged as an idea? Are there any special prototypes or upcoming Razor Network updates that you want to show/share with us?

In early 2019, Hrishikesh, our CEO and founder was exploring real-world applications of blockchain. At that time DeFi was in very early stages but was slowly proving to be a promising use-case.

But as he did more research he quickly realized space was limited due to the centralized nature of the oracles used. This will always be a limiting factor of DeFi unless the oracle problem is solved.

Oracle problem is a very well known and notoriously difficult problem. He loved the challenging nature of the problem and started designing and analyzing different mechanisms for a fully decentralized and secure oracle.

Over the period of a year, he continued to research and development of Razor to make it the most robust, secure, and fast oracle network.

Question 7. Synthetic asset markets like Gold, Oil, etc. has low volatility, on the contrary, the cryptocurrency market is very volatile,

Why did Razor Network decide to combine synthetic assets and cryptocurrency assets in one platform?

How does cryptocurrency market participants get benefits from the Razor Network platform?

Using this application, anyone can tokenize any asset in the world. Users can use their Razor tokens as a collateral.

This is a very powerful application and it will showcase the true power of Razor Oracle which will provide truly decentralized, permissionless and secure pricefeeds to the Razor Synthetic Asset app. We also call this app deltaOne.

deltaOne is currently in alpha testnet and you can try it here deltaone.finance.

Question 8. Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to your platform and keep them long term.

Seems we have already answered this :)

Razor Network will not only target applications on the Ethereum mainnet, but we have also partnered with multiple L1 and L2 chains to offer a fully decentralized oracle on their platform.

We have also built an in-house synthetic asset platform called delta One which will utilize Razor oracle. This will bootstrap a user base for Razor oracle.

Question 9. Recently Razor Network has many partnerships with very interesting projects, Why choose a partnership with Opendefi? Is this part of the Razor Network Strategy to attract users? and What do you want to build together?

Through this partnership, OpenDeFi will integrate with Razor’s Oracle network for the assets when the platform at Razor’s end is live. It will provide OpenDeFi’s smart contracts with a trusted and uninterrupted feed from the global precious metal markets, and guarantee that investors are able to purchase assets at exactly the same price at which they have bid. OpenDeFi also plans to add new asset classes in the future and will employ Razor’s solution for obtaining their instantaneous spot price as well.

Question 10. The last month of the 2020 was a good year for Razor Network with several partnerships and good progress. Now that it’s a new year, what are you going to be focusing on? Can you tell us your plans for the Q1 2021?

Razor Network has already been live on the testnet for the past months, we also have released a few products like Razor Synthetic Assets, Razor Scan, Reality Aware Tokens as mentioned above.

This Year we are planning to go live on the Mainnet as well as launching Dispute Rounds, Reality Aware Tokens and DeltaOne V1. We will also be conducting our much awaited Public Sale very soon 😉

More details will be published on our website soon — https://razor.network

Mr Hubert: Thank you @himanshubisht, and @divij33 for replying to the community.

We will go to Segment 4, the RAZOR NETWORK will ask the question. The person with the fastest correct answer will win.

Each person can only answer 1 time / 1 question.

Please @himanshubisht, and @divij33 to ask Quiz questions.

Quiz 1. What is the consensus algorithm used by Razor Network?

POS = Proof of Stake

Quiz 2. What was Razor Network’s first announced partnership

Skale. Check Razor Network announcement channel to confirm: https://t.me/razor_announcement

Quiz 3. What Ethereum testnet is the Razor Network currently on?

Goerli Ethereum Testnet

Quiz 4. Razor Network is in what stage of development?

Testnet Launched

Quiz 5. Razor Network is blockchain _______ and can run on any Ethereum compatible network.

Agnostic

So the AMA RAZOR NETWORK at Vietnam Coin Market (VCM) is also coming to an end. Hopefully in this direct exchange, the community has a basic understanding of the RAZOR NETWORK. I am the moderator today. Congratulations to the RAZOR NETWORK.

Thanks @himanshubisht, and @divij33 for joining AMA with the VCM community today. Wish you much health and success.

Again, don’t forget to join the RAZOR NETWORK community for further assistance. Thanks everyone.

Telegram: @razornetwork

Channel Telegram: @razor_announcement

Twitter: https://twitter.com/razor_network

Medium: https://medium.com/razor-network

Website: https://razor.network

VIETNAM COIN MARKET COMMUNITY INFORMATION:

Website: http://vcmcommunity.online

Medium: https://chocoin-vn.medium.com

Youtube VCM: https://www.youtube.com/c/vietnamcoinmarket

Youtube AI: https://www.youtube.com/c/angelinvestorcommunity