What is OraiChain (ORAI)?

Oraichain pioneers as the inaugural AI-driven oracle and blockchain ecosystem globally. Beyond conventional data oracles, Oraichain endeavors to establish itself as the premier AI Layer 1 within the blockchain domain, featuring a comprehensive AI ecosystem. This ecosystem serves as a fundamental framework for pioneering a new wave of intelligent contracts and decentralized applications (Dapps).

At its core, Oraichain harnesses AI technology to develop a plethora of crucial and groundbreaking products and services. These include AI-driven price feeds, fully integrated on-chain VRF, Data Hub, AI Marketplace boasting over 100 AI APIs, AI-powered NFT creation and copyright protection, Royalty Protocol, AI-driven Yield Aggregator Platform, and the Cosmwasm IDE.

Oraichain serves as a pivotal platform bridging Artificial Intelligence APIs with smart contracts, forming the basis for innovative Dapps incorporating AI. It stands as the pioneering AI-driven oracle, aiming to revolutionize the realms of AI, DeFi, and Blockchain.

Diverging from traditional oracles reliant on raw data, Oraichain's AI oracle utilizes AI APIs to dynamically generate or process data within smart contracts via virtual machines. This approach elevates data integrity, dependability, and security through rigorous testing, fostering trust and unlocking novel application capabilities. AI-driven oracles signify the evolution of smart contracts.

Moreover, Oraichain integrates AI and Blockchain technologies, boasting an ecosystem comprising an AI API marketplace, Data & Request Hub, Publisher Service, Training Service, and Dapp Hosting, with AI at its core.

The Oraichain network furnishes the infrastructure and consensus mechanisms essential for Blockchain and AI training, propelling the advancement of Web3, DeFi, enterprise, and academic applications. Notably, yAI.finance stands as the inaugural use case, presenting a DeFi platform enriched with distinctive AI-driven features and strategies.

The Oraichain AI Marketplace endeavors to consolidate AI products and APIs, aspiring to be the premier destination for Artificial Intelligence services.

Who are the founders of OraiChain?

Oraichain has recently undergone leadership restructuring, with the former CTO transitioning to CEO for Oraichain Vietnam and Mr. Tu Pham assuming the role of CTO. Chung Dao, a co-founder, remains CEO, playing a pivotal role in the project's growth. Additionally, Oraichain has expanded its workforce to 25 individuals, comprising core team members, AI and blockchain specialists, data scientists, and developers.

What is the working mechanism of OraiChain?

Oraichain's pioneering platform blends artificial intelligence (AI) with blockchain technology to overcome traditional obstacles hindering the direct integration of AI models into smart contracts. Conventional smart contracts, constrained by rigid specifications and deterministic processes, struggle to accommodate the complexities and varied outputs of AI models due to three primary limitations: the precision required by smart contracts, the compatibility gap between programming languages such as Solidity and Rust and AI models typically developed in Python or Java, and the substantial difference in data size requirements between blockchain storage capabilities and AI model dimensions.

At the core of Oraichain's solution lies the Cosmos Software Development Kit (SDK), a robust framework aimed at simplifying the creation of blockchain applications. The Cosmos SDK facilitates the development of interoperable, scalable, and customizable blockchain ecosystems, essential for the advanced functionalities Oraichain aims to deliver. 

By harnessing Cosmos SDK alongside Tendermint's Byzantine Fault Tolerance (BFT) consensus mechanism, Oraichain significantly enhances transaction speeds and security, enabling swift and secure AI data requests and validations.

This architecture supports a decentralized network of validators who uphold the network's integrity by staking ORAI tokens and engaging in a delegated proof-of-stake (DPoS) consensus model. Validators play a crucial role in fetching and verifying data from AI providers against specific test cases provided by users or smart contracts, ensuring the accuracy and reliability of the AI APIs.

Oraichain's distinctive system architecture employs Oracle scripts to streamline the process of requesting AI APIs, enabling smart contracts and users to securely access external AI data. Through rigorous testing conducted by randomly selected validators, Oraichain ensures the quality of AI APIs and safeguards against data manipulation, setting itself apart from counterparts like Band Protocol and Chainlink.

In short, Oraichain utilizes the Cosmos SDK to tackle the inherent limitations of blockchain technology in integrating AI, presenting a novel framework that enhances smart contract functionality and user experience. This unique integration of AI APIs into blockchain through Cosmos SDK not only ensures the authenticity and dependability of information but also represents a significant stride in the advancement of AI-enhanced blockchain applications.

What are the use cases of OraiChain?

Oraichain leads the integration of artificial intelligence into blockchain technology, presenting a diverse range of applications that capitalize on its core capabilities:

• Smart Contract Enhancement with AI Oracles: Employing AI to elevate DApps functionality, making smart contracts more sophisticated by enabling them to analyze complex data and make informed decisions.

• Transparent Decentralized Data Marketplace: Establishing an open platform for users and centralized applications to access and procure AI services at competitive rates, fostering a more efficient data economy.

• AI-Powered Copyright Management for NFTs: Through aiRight, an innovative platform developed by Oraichain, AI oracles authenticate the origin and validity of NFTs, ensuring a trustless and transparent ecosystem.

• Comprehensive AI Marketplace: Offering a wide range of AI products and APIs, striving to become the go-to destination for artificial intelligence services.

• AI-Driven Yield Farming (yAI): Introducing AI methodologies to optimize yield farming returns, evaluate ROI, assess risk scores, and predict prices to improve investment outcomes.

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