PAID Network recently announced its strategic partnership with Razor Network, a swift, trusted, and decentralized oracle network.
With this partnership, Razor Network plans to leverage the PAID Network. PAID Network is an efficient blockchain-based ecosystem dApp that aims to deliver SMART Agreements that are powered by DeFi.
PAID Network is proud to announce its partnership🤝with @razor_network, a decentralized, trustworthy, fast, & scalable oracle service for blockchains.
Razor will use PAID Network’s MVP to streamline new and existing processes within its business model📝https://t.co/gx8c8ggEQN
— PAID NETWORK (@paid_network) February 3, 2021
The goal of PAID Network is to improve the existing business contract, as well as litigation and the settlement process. The network aims to do this by making a simple, cost-friendly, and attorney-free dApp for businesses and users so that those who are entitled to be compensated actually do get compensated. On the other hand, Razor Network is known for providing data to blockchains; data that is not corrupted, compromised, or attacked.
The core of Razor Network includes a set of smart contracts that are capable of running on any blockchain that is compatible with Ethereum. Such smart contracts can also ensure that certain properties are being upheld. These properties include items such as security from bribe attacks and network partition attacks, censorship resistance, etc. In a bid to improve its business processes, the Razor Network has also decided to partner with PAID Network.
Leveraging on PAID Network’s MVP
Once PAID Network releases its MVP, Razor will leverage it to streamline its new and existing business model processes.
Hrishikesh Huilgolkar, CEO of Razor Network, says, “Today, we are excited to announce that Razor Network will partner with Paid Network to use their MVP for our business needs. This will enable us to work more efficiently towards providing a state-of-the-art decentralized Oracle solution to blockchain applications.”
In the blockchain space, the oracle problem is known for its difficulty to solve. Through market data feeds and web APIs, oracles are able to verify and retrieve external data for smart contracts and blockchains. However, the issue is that there is a notable lack of reliable decentralized oracle services, which makes most DeFi projects having to rely on centralized ones.
Kyle Chasse, CEO of PAID Network, states, “The need for security is a common theme across the blockchain industry, which is also a key theme for us as we build PAID’s SMART Agreement DApp. So I couldn’t be happier to share our technology with Razor, allowing them to secure and maximize their business operations, empowering them to scale to new heights through the use of our MVP, once we bring it to market.”
In changing the game, Razor Network is working towards being the first truly decentralized, general-purpose oracle network. It is also both fast and secure for blockchains to use.
Before now, TomoChain announced its strategic partnership with PAID Network. With this partnership, users and companies that execute PAID SMART Agreements on the PAID Network are expected to gain from secure, low cost, and fast transaction processing on TomoChain.
RAZOR and PAID Price
At the time of publication, Razor Network (RAZOR) was trading at $0.519254. with a market cap of $22,411,700 and a 24-hour trading volume of $3,518,079. By contrast, PAID Network (PAID) was trading at $3.84, with a market cap of $74,140,180 and a 24-hour trading volume of $3,555,347.
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