Razor Network and Meter will be partnering to help organizations in the blockchain space build applications in the domain of decentralized finance (DeFi). According to the agreement, Razor Network will provide secure and reliable off-chain data; such data can be used by applications built on Meter’s platform.
This development is sure to have positive implications for the industry, particularly in the DeFi space—this collaboration will improve the overall development process. More developers will be joining the burgeoning ecosystem; this partnership will accelerate progress in the app development and business sustainability front. It will also help achieve wider adoption and coverage of the DeFi app among users and institutional customers.
Razor’s Oracle solution is a decentralized service that provides maximum security—unlike centralized solutions built around the closely-knit architecture, Razor’s decentralized solutions are foolproof against data hacks. Razor’s algorithm is based on the proof-of-stake consensus mechanism backed by solid safety and security credentials.
The top echelon of both organizations expressed their optimism. Hrishikesh Huilgolkar, the chief executive officer of Razor, said that Meter’s efforts in the creation of a DeFi ecosystem would get a boost with the off-chain data capabilities of their network. It would help in the speedy development of more decentralized applications that can be operated securely.
Meter’s co-founder, Xiaohan Zhu, reciprocated the feeling by conveying that their organization is highly impressed by Razor’s innovative capabilities and its achievements in the space of Oracle design. In sum, this association bodes well for the overall space of decentralized finance and is expected to bring more customers to the holistic ecosystem of blockchain and cryptocurrency.
Razor network is a decentralized network and oracle platform for decentralized finance, lending, and insurance markets, atomic swaps, and prediction markets.
Meter is a DeFi infrastructure with a stable pre-built currency—it can be used as a side chain for Ethereum and connect other blockchains.