The germination of people's concept of "right to privacy" began in the 12th century, and its meaning expanded from "what is fair" to include "a right - a person's right to control or claim something." Perhaps in wartime, privacy Usually understood as "freedom", in today's Internet age, this is called "privacy".
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Raze background
While the blockchain industry is developing rapidly, identities, behaviors, and interactive content on the chain are becoming more and more transparent. Against this background, encryption enthusiasts have higher and higher demands for privacy protection.
Among the projects that focus on privacy and anonymity, Zcash is the earliest project that focuses on privacy and anonymity, and it is also the first project to use the zero-knowledge proof algorithm zkSNARKs to hide transaction data and ensure the anonymity of transaction addresses and amounts.
However, since Zcash cannot anonymize smart contracts, it cannot meet the growing demand for DeFi and the expansion of applications, as well as the large number of anonymized transaction needs brought about by market expansion. In addition, because the verification process relies on trusted A valid certificate generated by a third party therefore introduces some uncertainty.
In response to this problem, Raze Network aims to provide a technical solution to reverse the privacy dilemma where people need to sacrifice private information to use the services provided.
“Privacy is one of the things that drives the world of cryptocurrencies. This element is often given a negative connotation, as if it’s just there to hide illegal activity, when in fact privacy is essential to almost every aspect of our lives The: There is no data more sensitive than our payments, they are indicators of our personal wealth, they reveal our personal and intimate preferences. These payments say everything about us, so keeping them private is critical.”
This is what Raze Network is doing.
The privacy track ushered in rapid development
After the advent of Zcash, a series of projects focused on anonymity and privacy appeared in the market, such as Quorum ZSL, Nightfall, etc. Although these projects applied the zkSNARKs algorithm to smart contracts, they still had some performance problems, such as:
Proof generation costs are too high, leading to long verification process
The Gas fee required for the entire process is relatively high. According to Ernst and Young, transactions in Nightfall require about 2.7 million Gas fees.
Trusted Installer requires a valid certificate generated by a trusted third party
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Next Generation Privacy Solution: Raze Network
Raze Network emerged as a result, deployed on the Polkadot Substrate framework, and integrated the open source privacy protocol Zether privacy algorithm and Shrubs Merkle Tree algorithm to propose a new and more efficient zero-knowledge proof mechanism, namely the Σ-Bullets algorithm, which can reduce Gas fees, while providing anonymity and privacy.
Shrubs Merkle Tree algorithm example, source: white paper
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Privacy projects in the Polkadot ecosystem
Polkadot Ecologically, the current protocol that belongs to the same privacy track as Raze Network is Manta Network, but its project focuses on protecting the privacy system of DEX, and Raze is compatible with the most critical liquidity mining and anonymous mining functions in DeFi, so The application scenarios will be broader.
From a technical point of view, the network in Manta's zero-knowledge proof scheme requires a trusted third-party setup, and the zero-knowledge proof scheme adopted by Raze does not require any trusted setup, and all public parameters of the system can be obtained from the basic set Random selection in a completely transparent manner to ensure the degree of decentralization.
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Three directions of smart contract privacy algorithm
Currently, privacy and anonymity projects based on smart contracts can be divided into the following three categories according to their privacy algorithms:
The first category is based on the zero-knowledge proof algorithm and does not require trusted initialization. Represented by Zether and zkSync, these projects mainly focus on anonymous payment and transactions of cryptocurrencies. Raze is also a member of this track. The main characteristics of this project are as follows:
Raze is developed based on the Polkadot Substrate framework, allowing users to operate DeFi applications through Polkadot or cross-chain
Raze has an efficient Σ-Bullets algorithm, which greatly reduces the proof size, verification time and Gas fee
Raze is committed to creating a privacy token ecosystem. In the future, it plans to develop DEX, lending and cross-chain products based on Raze Chain. It will also deploy a public chain of general privacy solutions on multiple blockchains to create a collaborative ecosystem.
The second category of projects is based on the TEE Trusted Computing Environment algorithm, represented by Oasis and Phala. These projects are mainly dedicated to realizing data privacy computing.
The third category is other anonymous algorithm projects, such as Nucypher, PlatoN, and Tornado. For example, Nucypher uses the Umbral PRE algorithm, and Tornado uses the "currency mixing algorithm".
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The Zether framework is designed for models based on Ethereum accounts, so it naturally promotes the market demand for cross-chain private payments of ERC20 tokens. In the Polkadot ecosystem, since all modules are based on the Substrate framework, therefore Raze Network is compatible with tokens issued in the Polkadot ecosystem, such as DOT or KSM.
Therefore, the Raze contract can support both tokens issued in the Polkadot ecosystem and ERC-20 cross-chain privacy payments. In addition, Raze’s cross-chain interoperability will improve the liquidity of the Polkadot ecosystem. Through the RAZE VM integration mechanism, it can be combined with any DeFi or Web 3.0 product, and mint privacy tokens at a 1:1 ratio.
CryptoJ AMA with Raze Project Lead and Justin Kellison on April 6th"Raze Network - Building Cross-Chain Privacy Middleware for DeFi and Web 3.0"It was revealed that since Raze can be combined with any blockchain that supports smart contracts, the target market is very large, and Ethereum, Polkadot, and Binance Smart Chain will all become the first choice.
In addition, the goal of Raze Network is to achieve privacy protection in cross-chain payment and DeFi systems, while ensuring the transparency of assets and behaviors through reasonable supervision. Ultimately, Raze Network will realize the anonymization of all cryptocurrencies on the chain.
Privacy tokens will be minted on the second-tier network and absorb liquidity from various DApps and blockchains, so it can be said that Raze Network is building cross-chain privacy middleware for DeFi and Web 3.0.
In-depth dismantling of Raze solutions and project features
The basic operating logic of Raze Network is to mint new privacy tokens with the basic tokens of the contract at a ratio of 1:1, which has three major technical functions:
Minting: convert any token into an anonymized version of itself
Redemption: Converting the anonymized token back to its original form
Transfer: Realize the anonymous transfer of tokens, while hiding the payment method and the identity information of the payee and the transfer amount
For users, the operation of minting and redeeming tokens is very simple:
Users only need to go to a DApp (Uniswap, Aave, PancakeSwap), mint an anonymized version of the token directly on the platform and use the DApp's services in a completely anonymous way
When the entire transaction is completed, the token can be restored to its original form by restoring the formation
The whole process is very simple, but in this way the whole transaction behavior is anonymized and cannot be traced by anyone.
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Three major features
Infinite & Seamless: Connect DeFi or Web 3.0 products and improve the performance of existing decentralized applications with RazeVM
Crypto-friendly & tradable: Enabling immaterial privacy to be traded by users by creating privatized tokens
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team section
Project Lead：Justin Kellison
Justin has 4 years of experience in the crypto industry, is an active marketer and developer, and has worked for many DeFi projects. He and his professional marketing team have helped increase product awareness and demonstrated good results.
Strategic Advisor: Dylan Dewdney
Dylan Dewdney has entered the blockchain industry since 2011 and is a senior encryption enthusiast. In 2017, he co-founded Harbor DAO with others. This project has become an open set of governance structures and voting mechanisms built on ERC 20. standard tools. After that, he served as the chief evangelist of Beam and the head of growth of AdEx, and is currently the CEO of Kylin Network.
Marketing Consultant: Garlam Won
Garlam Won is the former head of marketing at Harmony, in addition to being responsible for the marketing of some DeFi and NFT projects. As a former investment banker at JP Morgan and a former management consultant at Deloitte, Garlam exerts influence in various parts of the blockchain ecosystem through deep connections with communities in China, Korea, Canada and the United States.
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financing background
In early March, Raze Network announced the completion of a seed round of financing, with investors including Signum Capital, AU21 Capital, CMS Holdings, Master Ventures, Spark Digital Capital, PNYX, Moonwhale and Flurry Capital.
Raze Network CEO Justin Kellison said that Raze Network will bring privacy protection attributes into the full stack of the DeFi ecosystem, and is currently working on the development of the first privacy product, Multi-chain Privacy Cloak.
At the end of March, Raze Network completed a US$1.7 million private placement round of financing. OKex Block Dream Fund, Tenzor Capital, Arpa Labs, X21 Digital, Kyros Ventures and other institutions participated in this round of investment. In addition, seed round investment institutions AU21 Capital, Signum Capital, Master Ventures and Spark Digital Capital made additional investment in this round.
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Raze Ecology and Product Application
Raze Network can be combined with any DApp or Web 3.0 products such as Uniswap, Aave, StaFi, PancakeSwap, Compound, etc. and use their services (borrowing, staking mining, financial derivatives, trading, etc.) in a completely anonymous way ).
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Raze Swap
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Raze Lending
The Raze lending platform can provide mortgage lending services for all privacy tokens issued by Raze, thereby providing a variety of privacy token application scenarios.
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RazeVM
Raze will further upgrade the Σ-Bullets privacy algorithm to a RazeVM virtual machine compatible with other public chains, and Raze will also be deployed on different public chains such as Ethereum, BSC, and HECO.
Raze Cross-Chain Bridge
The Raze cross-chain bridge can connect assets on public chains such as Bitcoin, Ethereum, Polkadot, and BSC to Raze, and create privacy tokens through privacy contracts. In other words, these tokens can be circulated in DeFi applications such as Raze Swap and Raze Lending, and token holders can also conduct private and anonymous transactions.
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token part
Raze Network's native token is RAZE, and the total supply of tokens is 120 million pieces. RAZE tokens are indispensable as a handling fee in all transaction processes. This is one of the most important functions of RAZE tokens.
In addition, RAZE is also a privacy protection token and can function as a governance token. The community can use the token RAZE to initiate proposals on protocol changes and implement them through voting.
The token RAZE can also be used as a reward for liquidity supply to stimulate liquidity supply behavior in the decentralized ecosystem.
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Recent planning
Recent planning
Raze Network is currently developing a Substrate-based smart contract that includes the ability to mint and restore privacy coins.
The report submitted to Certik for audit will be announced soon, and the project is expected to be launched in Q3 of 2021. Raze Swap, Raze lending and Raze cross-chain transfer bridge are all included in the roadmap.
About CryptoJ
About CryptoJ
CryptoJ (WeChat public account: CryptoJ) is a community service solution provider, a new generation of blockchain investment, research and service institutions, and has established a deep relationship with leading media, developer communities, business elites and financial institutions in the encryption world Partnerships. CryptoJ brings together a wide range of KOL network systems, professional industry information, in-depth research and analysis, high-quality communities, hot market project dynamics and other multi-faceted blockchain industry resources. Match differentiated services in the market in real time, provide analysis and customized services, form community alliances, cooperate with exchanges to promote, and build vertically segmented channels such as self-media services at home and abroad. CryptoJ will provide real marketing value to your project and build broad brand awareness in China and the world.
