Investing In Oraichain (ORAI) – Everything You Need to Know

Oraichain (ORAI) operates as a programmable Layer 1 blockchain and oracle service provider. The goal of the project is to empower the development community and AI sectors via a variety of unique methods. Notably, the network continues to secure more Dapps and developers weekly thanks to its features and services. Here's everything you need to know about Oraichain.

What Problems Does Oraichain Attempt to Fix?

There are several issues that Oraichain helps to eliminate. For example, it helps to alleviate developer onboarding. The network is fully Ethereum Virtual Machine (EVM) compatible which means that creators can migrate their Ethereum creations to Oraichain and start saving on fees and enjoy increased performance. Specifically, the network is geared towards the latest Web3, scalable Dapps, and decentralized AI services.

AI Fraud

As AI is now available to everyone thanks to programs like ChatGPT, concerns have risen regarding how the technology could be used to commit fraud. AI counterfeiting technology has improved to the point that the network could do things like explain how a certain program is coded or provide insight into how to hack a network.

AI fraud can be eliminated using blockchain technology. The immutable nature of these networks fits perfectly as the obvious solution to any tamper-related issues. Additionally, the instant nature of blockchain consensus means that these networks will have real-time protection.

Source: Twitter @oraichain

Centralization

The AI market is very centralized at this time. Only massive tech firms have had the funding to research this technology until now. This structure means that the market has had its prices set to meet the demands of a few. Oraichain envisions decentralized environments specifically tailored to meet the needs of the data economy and AI-based services. This structure will help to decentralize the market and improve pricing and innovation.

Benefits of Oraichain

There are a lot of benefits that Oraichain introduces to the AI-blockchain markets. For one, it's secure as its open-source code can be vetted by anyone seeking further investigation into its merits. As such, it provides a solid foundational layer for verifiable and trustless AI execution on the blockchain.

Scalable

Oraichain is all about scalability. The developers predict AI to become a massive market used by nearly everyone. As such, they have optimized the protocol to run sub-networks dedicated to AI services. The system also leverages layer 2 solutions, optimistic,  and zk-rollups to improve transaction finality.

Reliable Data

Oracles are off-chain sensors. These sensors are a crucial part of many Dapps and protocols. They can conduct tasks like monitoring the price of an asset. As such, they are usually found in use with DEXs or other exchanges that don't have an order book for pricing. Oracles can be used to monitor nearly anything which makes them a powerful tool for developers.

The main problem with oracles in the past is that they were centralized. This structure means an oracle could provide faulty data and there was no way to verify the information at the time. Oraichain provides a decentralized network of oracles that can cross-reference their data to ensure accuracy.

How Does Oraichain Work?

The Oraichain network is an AI-supported Layer 1 decentralized network. The protocol was built to support the data economy and provide decentralized oracle services. Notably, the platform is a CosmosSDK-based blockchain. As such, it supports programming and smart contract execution using Cosmwasm IDE.

Layer 2 Rollups

Oraichain leverages layer 2 solutions to improve performance. The network uses these networks to host Dapps and execute smart contracts. This strategy is popular in the blockchain community because it reduces congestion on the mainnet. Oraichain supports multiple roll up protocols.

Oraichain Subnetworks

Anyone can create and manage a subnetwork on Oraichain. The protocols were designed to support two types of subnetworks, VRF Subnetwork and AI Execution Subnetworks. The latter leverage AI technology and data. These networks use a consensus system called proof-of-correctness and proof-of-execution.

Oraichain Data Hub

Anyone can convert their AI data into funding using Oraichain. The system supports the storing, sharing, and analyzing of critical data as well. Users can also request and label data. Notably, you can secure returns for labeling data.

Oraichain AI Marketplace

The AI marketplace creates an entirely new market dedicated to AI data. Anyone can contribute AI models to the marketplace and start securing returns. Users can offer packages of these services to users in exchange for the network utility token ORAI.

Oraiscan

The Oraiscan system is a blockchain explorer dedicated to the network. Blockchain explorers provide users with a free tool to explore the network. You can see vital details such as the network's total health and check balances of wallets. Most people use this feature to track transactions and verify smart contracts.

OraiBridge

In today's fast-paced digital economy, there is now more importance than ever put on interoperability. The OraiBridge enables developers to leverage the best aspects of other decentralized networks and combine them with the advanced AI and oracle services provided by Oraichain.

Owallet

The Owallet is how users store and send their crypto on the network. Notably, the wallet features staking capabilities which makes it much simpler than many other options on the market today. You can see the rewards you will secure using the staking calculator which makes it easy to secure predictable returns.

Token – ORAI

ORAI is the main utility token of the network. This token can be staked to gain passive income or used to pay fees. It's also how users purchase data sets and oracle services in the marketplace.

Consensus

Oraichain leverages a DPoS (delegated proof of stake) consensus mechanism to remain secure. This style of consensus mechanism eliminates the use of high-powered miners. As such it's considered more democratic. Users delegate their tokens to validators that are responsible for approving network transactions and conducting other activities. For their services, they receive rewards in the form of ORAI tokens.

How to Buy Oraichain

Currently, Oraichain (ORAI) is available for purchase on the following exchanges.

Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.

Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.

KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens.  It is often the first to offer buying opportunities for new tokens.  This exchange currently accepts International & United States residents.

Oraichain (ORAI) – Positioning for the AI Wave

Oraichain (ORAI) is one of many AI-focused projects entering the market. The network is ahead of the curve in terms of services and infrastructure. As such, it's sure to provide valuable services and guidance to others. You can expect to hear a lot more about Oraichain moving forward as AI goes mainstream.