Raze Network provides a new level of privacy to its users
Raze Network is a cross-chain privacy protocol for the Polkadot ecosystem. The team has built this substrate-based protocol as a native privacy layer that can provide end-to-end anonymity for the Web3.0 stack and the entire DeFi.
The Raze Network applies zkSNARKs to the Zether framework and builds a second-layer decentralized anonymous module. Afterward, Raze imports it as a substrate-based smart contract. The network aims to enable cross-chain privacy-preserving trading and payment systems while protecting the transparency of customers’ assets and behaviors from surveillance.
Raze Network mints private tokens from base tokens on the contract. A minting value ratio is 1:1. zkSNARKs are key to maintaining anonymity. They also provide the required information for data parsing. Overall, the network will have three technical abilities: Mint, Redeem and Transfer.
The mint function will convert tokens into an anonymized version of itself. The redeem function will convert the anonymized tokens back into their native form. And the transfer function enables the anonymous transfer of the token. It will conceal and protect the anonymity of both sender and receiver, as well as the amount being sent.
Users can use RAZE to transfer any token between any blockchain and empower the privacy of on-chain transactions between the recipient and destination addresses.
Furthermore, customers can hide their trading history because RAZE is compatible across all DeFi products. It can be fully compatible with Compound, Uniswap, AAVE, and DeFi ecosystem on Cosmos and Polkadot.
What are Raze Network’s advantages?
Raze Network has several significant advantages. For instance, it can connect to any unconnected DeFi or Web3.0 product, thus expanding the capability of existing decentralized applications with RazeVM.
The team implemented the mint and redeemed mechanisms for creating private tokens, making intangible privacy tradable. Besides, the substrate framework provides RAZE the attributes of interoperability.
The RAZE token is the backbone of the whole Raze economy, capturing the value that flows through the network in various ways.
Raze is far past the conceptual phase. The project is holding a liquidity bootstrapping pool (LBP) on Balancer. And the token’s triple IDO on Poolz, Bounce, and DuckStarter started today. A total of 1,000,000 RAZE tokens are for sale for $0.1. Investors can buy the tokens for that price for the following three days until the IDO ends.
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