Razor Network Raises $3.7M to Prove There’s Room for More Oracles in DeFi

The first thing you need to know when speaking of Razor is what exactly TOR is. TOR is a software that enables online anonymity to hide a user’s location in anything concerning internet traffic. Mainly, TOR makes it harder for network activity to be tracked back to the user of the TOR network. You can find more information regarding TOR here. Back to the coin itself, Razor has a total coin amount of 2 million, and it is fully PoW running on the scrypt algorithm. The implementation of TOR in Razor is a great one to say the least as many coins have made a push in order to achieve anonymity.....

Kylin Network, a platform developing a cross-chain data infrastructure and the Data Economy 3.0, announced the release of decentralized oracles as part of the first applications of its technology for providing the DeFi market with an accurate, reliable, and cost-effective source of external information.  The oracles developed by the Kylin Network can remove the risks of cryptocurrency price manipulations or inaccurate data by directly connecting to several reliable sources at once, verifying the information received […]

While the crypto economy has shed significant value, losing more than $2 trillion since the highs recorded at the end of 2021, a great deal of value was erased from smart contract platform tokens and decentralized finance (defi) protocols. One sector of the defi ecosystem that’s recorded heavy losses this year is the blockchain oracles space, as a great number of oracles secure a lot less value than they did seven months ago. While there are more than two dozen oracles today and there were only 17 at the beginning of the year, the total value secured by oracles has decreased by....

Chainlink co-founder Sergey Nazarov explains why a decentralized oracle network is needed to ensure trust in the DeFi ecosystem. Chainlink co-founder Sergey Nazarov believes that increasing the decentralization and scalability of oracle technologies are key to ensure trust in the DeFi ecosystem. Oracles play a key role in the correct functioning of DeFI protocols by connecting them to real-world data. However, the trustworthiness of oracles becomes compromised in instances where they rely on a single data source to retrieve information. For instance, according to Nazarov, excessively....

In a world of “interests,” it is vital that no one has a monopoly on truth. Decentralized protocols have grown in popularity as viable alternatives to traditional centralized systems. People are recognizing the flaws of centralized authority and adopting open, decentralized, and trustless systems. However, for decentralized protocols to truly be open and transparent, there’s a need for an infrastructure that would help access offline real-time information in a trustless manner. There is no doubt that we live in a world where anyone can simply share false information and declare....