Losing Archived/Online Redo Log file With No Backup

The SPFILE parameter _allow_resetlogs_corruption can be used if your current redologs are corrupted or blown away and you don't have backups. It may also be handy if you do database recovery and one of the archived log files are missing and cannot be restored.

NOTE: You must contact Oracle Support before enabling this parameter as you might end-up losing your entire database.

Situation:
On of the Redo log files is corrupted and you don't have a backup and database is down You are trying to start your DATABASE, you found the error ORA-00354.

Required Action:
What will happen, if you don’t have Valid Backup? There is a Workaround via which you can at least recover your Database to some extent:

SQL> select * from v$log;
SQL> alter system set "_allow_resetlogs_corruption"=true scope=spfile;
SQL> shutdown immediate;
SQL> startup mount;
SQL> recover database using backup controlfile until cancel;
SQL> alter database open resetlogs;
SQL> shutdown immediate;
SQL> startup

After database is being up extract the data by taking a full EXPORT and rebuild the entire database.