Oraichain

What is Oraichain?

Oraichain is an advanced AI-powered oracle and blockchain ecosystem designed to bridge the gap between artificial intelligence (AI) and decentralized applications (dApps). It serves as a foundational layer for the creation of a new generation of smart contracts and dApps, emphasizing the integration of AI services into blockchain technology. Oraichain's vision is to enhance the trustworthiness, transparency, and functionality of AI within decentralized environments, ultimately creating a more robust and reliable ecosystem for AI-driven applications.

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Recent Video Interview

Main points of the interview:

• Tyree Robinson, Head of Ecosystem at Oraichain, shared his journey to joining the team in 2021.
• Oraichain has always been AI-focused, with its core mission to integrate AI-generated data into smart contracts since its inception.
• The platform's AI Oracle verifies AI model outputs for accuracy, reliability, and bias before delivering data to smart contracts.
• Oraichain's ecosystem is broad, encompassing decentralized storage, ZK engine, tokenization, and various applications.

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System Architecture

Oraichain's system architecture is meticulously designed to support advanced AI and blockchain functionalities within a decentralized environment. At its core, Oraichain operates on a secure, decentralized proof-of-stake (PoS) network, which is Inter-Blockchain Communication (IBC)-enabled, ensuring seamless interoperability with other blockchain networks. This PoS framework is crucial for network security, allowing validators to participate in consensus while earning rewards.

The architecture is dual-compatible with CosmWasm and EVM, enabling developers to create and deploy smart contracts across different environments, broadening the scope for innovation within the ecosystem. Oraichain’s AI oracle infrastructure is a key component, offering end-to-end support for integrating AI models into decentralized applications (dApps). This infrastructure ensures that AI-driven decisions are transparent and trustworthy.

Another vital element is the OBridge, which facilitates cross-chain communication and asset transfers, connecting various blockchains such as Ethereum, Binance Smart Chain (BSC), and TRON. Additionally, the architecture incorporates a Zero-Knowledge (ZK) Engine for privacy, and a robust decentralized storage solution for secure data management.

Oraichain’s Vision

Oraichain's vision revolves around integrating AI into blockchain technology to create more transparent, secure, and reliable dApps. The platform's novel oracle mechanism plays a pivotal role in this vision by enabling AI services to be seamlessly incorporated into smart contracts. By providing proof-of-execution and a chain-agnostic approach to AI service delivery, Oraichain ensures that AI can be trusted and utilized effectively within decentralized systems. This vision is supported by several core components:

• Trustworthy AI Integration: Oraichain's AI oracle ensures that AI services integrated into dApps are reliable, transparent, and verifiable.
• Cross-Chain Interoperability: OBridge supports communication and asset transfers between multiple blockchain networks, enhancing the platform's versatility.
• Privacy and Security: The ZK Engine provides configurable privacy features, ensuring that sensitive data remains secure while still enabling necessary interactions.
• Decentralized Storage: Oraichain offers secure and resilient storage solutions, essential for protecting and managing data within the ecosystem.
• Tokenization of Real-World Assets: The platform supports the tokenization of assets, providing transparency and efficiency through AI-driven analytics and validation.

ORAI Token

The Oraichain Token (ORAI) serves as the backbone of the Oraichain ecosystem, powering various functionalities within the platform. ORAI is a utility token used for transaction fees, staking, and governance, enabling holders to participate in network decisions. It incentivizes validators to secure the network through a decentralized proof-of-stake (PoS) mechanism, ensuring network stability and security.

ORAI is also integral to accessing and utilizing AI services on the Oraichain network. Developers and users must pay in ORAI to request AI oracle services, facilitating the seamless integration of AI models into decentralized applications (dApps). Furthermore, ORAI supports cross-chain operations through the OBridge, allowing it to be used across multiple blockchain networks.

Team Background and Partners

Oraichain's team is composed of AI and blockchain experts, including six Ph.D. holders and over 58 developers. The leadership team features CEO & Co-founder Chung Dao, Ph.D. (University of Tokyo), CTO & Co-founder Tu Pham (AgileTech, Novalex Vietnam), COO & Co-founder Diep Nguyen, Ph.D. (Keio University), and CPO Tu Chu (McKinsey, Selless). Duc Pham leads DeFi initiatives, while Toan Nguyen, Ph.D., heads the AI Lab.

Oraichain's partners: KardiaChain, Tron, Astar, Vchain, Trava, CosmosWasm, Imba Game, DoraHacks, Injective, Syscoin, Oasis...

Other Projects in the Oracle Category

Some other projects in the Oracle category: Ergo, Litentry, Witnet, HAPI, xFund, The Graph, UMA, Pyth Network, Band Protocol, Tellor Tributes...

Oraichain Price Analysis

As of November 24 2024 Oraichain has a marketcap of $181M. This is {{percentagefromath}} from its all time high of $105.76. In terms of its tokenomics, there's a total supply of 18M with 90% currently outstanding. Keep in mind Oraichain has a fully diluted value of $200M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.