Razor Network

Halal Rating :
Comfortable
Last Price $0.002 Last updated:
Rank 2181
1D Change 3.45 %
Market Cap $649336.63
Circulating supply 328,245,504
Maximum supply 1,000,000,000
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Oracles
  • Insurance
  • Ethereum Ecosystem
  • Algorand Ecosystem
  • Exnetwork Capital Portfolio
  • Polygon Ecosystem
  • Injective Ecosystem

Purpose and Utility

Razor Network is a decentralized oracle network that aims to provide secure and reliable real-world data to blockchain applications. The RAZOR token is used for staking by network validators, governance voting, and as payment for oracle services.

Business Model

The project operates by allowing validators to stake RAZOR tokens to participate in the oracle network. Validators fetch off-chain data and submit it to the network, receiving rewards for accurate data provision. This model aligns with Islamic principles as it involves actual work and value creation through the provision of essential blockchain infrastructure services.

Real-World Adoption

Razor Network has established partnerships with several blockchain projects and continues to develop its oracle infrastructure. While adoption is still in early stages, the protocol is actively being used for its intended purpose of providing oracle services.

Development Activity

The project maintains active development on GitHub, with regular updates to the protocol. The team continues to improve the oracle network's functionality and security features.

Token Distribution

The token distribution includes allocations for the team, early investors, and the community. Team tokens are subject to vesting periods, which helps align long-term incentives.

Technology Analysis

The oracle network operates without interest-bearing mechanisms or gambling features. The staking system is based on work performed (data validation) rather than interest-based returns.

Crypto Impact

To assign a comfort level investing in Razor Network from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Razor Network.

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