Coinspeaker
Raze Network Redefining Privacy for Polkadot Ecosystem
The entire concept of cryptocurrency emerged from one single comment from the mysterious man Satoshi Nakomoto, that made into the headlines supporting the second bailout of the banks. With this concept coming into existence as an alternative to real money, it not only helped in finding a way around the exclusive control of the Central Banks but also played a great role in redefining the privacy sector of finance.
Moreover, with the substantial growth of the industry, computing platforms such as ethereum emerged out of the box, thereby strengthening the core of the decentralized system. However, due to the open and transparent way offered by blockchain technology, people began to get more concerned about their privacy and transactions. To overcome such cases, the Raze Network is introduced, aiming to bring significant changes under the Polkadot ecosystem.
Middle-ware Cross-chain Infrastructure to Sustain Privacy in the DeFi Space
Without privacy, it is obvious for the DeFi system to fail. Besides, the Polkadot ecosystem also came up with various vulnerabilities in the interoperability and security of the system. Keeping all the points in mind and focusing on defenceless security, a middleware cross-chain privacy protocol was built by the team of the Raze Network.
This cross-chain protocol basically offers a higher level of transparency and ensures complete security of the user’s data. Furthermore, it also encourages more contributions of dapps and provides sheer freedom to the users financially.
Raze Network can be simply defined as a cross-chain privacy protocol built on substrate-based chains for the Polkadot ecosystem. This acts as a middle-ware privacy layer into the existing ecosystems between the Polkadot users and DeFi. The core objective of this network is to make the user’s financial data obscure and uncertain before even engaging in the ecosystem.
The raze network allows the projects to achieve cross-chain payments in trading while preserving your privacy from unauthorized surveillance. They do this via three functions: mint, redeem, and transfer. Minting allows converting your tokens into a raze network anonymous version of the actual tokens. The transfer function enables you to transfer the amount to your desired destination, and then the redeem function converts the mint tokens back to their original form. The transfer is kept absolutely private between the sender and the receiver only.
Apart from preventing users’ data from bad actors or surveillance, Raze Network intends to build an extensive cross-chain infrastructure for the overall DeFi system, including the gaming sector, various trading platforms, dapps, etc. Raze Network is further expected to guide blockchain technology and the future generation industry towards significant growth and development.
Fuelling the Innovation Game for the Upcoming Generation
Raze Network seeks for intellectual and cooperative teams to make efficient use of this technology in various innovative ways. It is providing a true opportunity for passionate developers and users to construct a secured and decentralized future through the use of powerful technology. This Network shall serve as the core bridge for an entirely transparent ecosystem in the forthcoming generation.