MINNEAPOLIS, Minn., Aug. 14, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Razor is a state of the art cryptocurrency, similar in design to Bitcoin, but with a holistic focus on providing consumers with complete economic privacy and security. Ever since the first step in its creation, the goal of Razor has been to protect transaction anonymity so that it becomes effectively impossible for third parties to track the flow of wealth for consumer purchases and currency transfers. Razor achieves its goal primarily by operating exclusively on the encrypted Tor network (https://www.torproject.org/) -- a network so renowned for its unrivaled security and privacy, that it is used by the US Navy, GCHQ, and the FBI.
Razor's flagship vision is to provide an easy to use, privacy-centric, decentralized network, which focuses on privacy-of-transaction innovation. This is being accomplished through the development of an associated global, distributed marketplace known as "RZRoad," so named in honor of the former marketplace, the Silk Road.
Ross William Ulbricht is accused of being Dread Pirate Roberts, the founder and administrator of the illicit online marketplace known as the Silk Road--a website which offered individuals to buy and sell anything, from anyone, anywhere. The marketplace rose to notoriety for having users connect securely through the Tor onion router, effectively masking entry and exit IP addresses for both the users and the web server. This connection allowed the website to run effectively from early 2011 until the end of 2013, with numerous similar websites still in existence today. The Silk Road, and similar websites, definitively proved the high demand for anonymous marketplaces, as well as their viability in today's economy.
Razor is taking the concepts and principles once championed by the Silk Road, and evolving the process into something far more effective. To facilitate a true revolution in global commerce and economic privacy, Razor intends to use its network as the foundation for a privacy-focused bazaar based upon the open source OpenBazaar project, supplying users with the means to buy and sell goods anonymously with anyone around the world. Drawing on the obfuscation provided by having all its nodes, peers, and connections routed through Tor, Razor will offer the world's first completely private, distributed, global marketplace.
The use of OpenBazaar will give Razor the ability to permit any user to anonymously setup his or her own storefront to sell their wares and services. Rather than having a single large server host the RZRoad network, and so risk a centralized point of failure such as that which plagued the Silk Road, and still plagues its predecessors, Razor will decentralize every market into unique obfuscated nodes. This will turn one potential marketplace (like Amazon or Silk Road) into thousands of individual vendors–much like an online flea-market. The lack of a governing regulatory body allows for unrestricted commerce, if one is selling wool socks internationally from the United States, or Kevlar vests from Liberia to a customer in neighboring Sierra Leone, Razor intends to provide a safe, secure, and decentralized network for for the conducting of commerce in a private, secure manner.
As the currency exists completely on the Tor network, Razor offers a peace of mind that other currencies cannot provide. There are a plethora of cryptocurrencies which loudly boast about running on the Tor network when in reality it is an optional add-on the user must install and configure themselves. In comparison, Razor utilizes the Tor network natively, which means every user, vendor, exchange, and mining pool, exists as a Tor hidden service, effectively adding a shroud of anonymity over every single IP address on the network. Cryptocurrencies which do not provide IP address privacy cannot offer anonymous or private transactions, regardless of their bold claims. Razor is not just a cryptocurrency, it is being implemented as a completely functioning Tor client, which is opening the way for monetized, end-to-end electronic privacy for commerce and communications. Razor cryptocurrency effectively provides its users with the means to live a life free from economic censorship or regulation.
Razor plans to offer many ways to be privately acquired. With that plan in mind, the community has developed open source physical machines code-named onRAMP and has partnered with companies such as Prypto and Moolah for direct purchase of Razor. The physical onRAMPs will allow the trading of cash into Razor at select local areas, nearly identical to how debit card ATMs work. In the coming months, instructions to build open source onRAMPs will be available for download or pre-built turnkey onRAMPs can be purchased directly.
Razor has a low max limit of only 2,000,000 coins, of which over 99% have already been created. The current price to buy Razor is around $0.24 (0.00045 Razor/Bitcoin) with a current market cap of around $500,000.
Find more information, exchanges to buy Razor, white-paper studies, and more at http://www.razorco.in. You may also access us through the Tor network at mp75zslar3v24ikq.onion.
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Razor Development Team, Blockchain Technology Group Amy Elizabeth Oliveira +1 (844) 256-5832