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The Integration of Razor Network into Moonbeam Network
The Razor Network has recently been integrated into the Moonbeam Network, a platform designed for cross-chain linked applications that merge assets and functionalities across various blockchains. This integration aims to enhance builders’ exposure by combining the full adaptability of Ethereum with the capabilities of Polkadot. Key features include upgradability, cross-chain integrations, and on-chain governance.
Trustless Real-Time Price Feeds for dApps
With the incorporation of the Razor Network into the Moonbeam Network, developers can now utilize a trustless, real-time price feed for their decentralized applications (dApps). This enables them to expand the functionality and capabilities of dApps within the Moonbeam Network.
Enhanced Infrastructure with Bridge V2
The delivery of Razor Network’s Bridge V2 has transformed the infrastructure into a pull-oriented design, enhancing users’ ability to retrieve on-chain prices as needed. This design facilitates more efficient and seamless price update processes.
Secure Price Consensus and Data Verification
When the Razor Network reaches a consensus on price feeds, a reliable entity such as the operator of Razor Oracle performs a signing process which is kept off-chain. This results in the creation of a new REST API that provides connectivity with off-chain data sources. Users can then execute a single transaction to update on-chain pricing and utilize it in other protocols. The transaction data, along with the signature, is verified on-chain to ensure accuracy and security.
By implementing this process, the Razor Network can efficiently update a large volume of price feeds across multiple blockchains, thereby enhancing the security of existing protocols. This approach mitigates risks associated with delayed Oracle updates during periods of fluctuating gas prices, ensuring a more robust and reliable ecosystem for decentralized finance applications.
Overall, the Razor Network serves as a decentralized blockchain Oracle solution designed to meet the diverse requirements of decentralized finance applications, offering a secure and reliable infrastructure for price data dissemination and verification.
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