Many blockchain applications depend on real-world data, which is not readily available inside the blockchain environment due to their configuration. Currently, this problem is being solved by something called an 'Oracle', which is an entity that reads real-world(external) data and feeds it to the blockchain. Current oracle solutions may work short term but are not suitable for long term applications, which is quite essential in decentralized applications
There is a clear need for an oracle that is both fast and secure. Razor Network fills that gap. Razor Network is a blockchain agnostic decentralized oracle network with a focus on maximum game-theoretical security, complete decentralization, and is fully permissionless. Razor achieves this while still being fast and practical for decentralized finance. The goal of the project is to provide a decentralized way to verify and provide data to a blockchain. Since entire economies are being built on blockchain which relies heavily on external data, it is extremely important that the data is provided and aggregated in a decentralized way to avoid many kinds of attacks. Such attacks include: Take over the attack by controlling the majority of the validators, bribing attack, providing invalid or compromised data source, making invalid queries to the oracle, censoring reports of honest validators, etc.
Razor Network tackles the above-mentioned attacks, thus making it more secure than other Defi oracles. It has high economic security, a high degree of decentralization, protects stakeholders from various kinds of attack, Protects clients from malicious stakeholders, has censorship resistance, easy for developers to use, has collusion and bribing attack resistance, is permissionless, offers a high degree of decentralization and economic security. 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.
Razor Network was developed to tackle the attacks on previous oracles. Its features make it the only oracle with the most secured security system as there has not been any record of an attack on the network since its launch.