OraichainPrice

(ORAI)

Oraichain (ORAI) is a blockchain-based AI platform that integrates artificial intelligence services into smart contracts. It functions as the world's first AI-powered data oracle, aiming to enhance decentralized applications (DApps) by providing them access to external AI-driven APIs. This enables smart contracts to perform more complex, intelligent operations by leveraging verifiable AI outputs.

Oraichain utilizes AI Oracles to deliver verifiable and trustless AI outputs on-chain, effectively addressing the "black box" problem prevalent in centralized AI systems. It is built as a Layer 1 blockchain using the Cosmos SDK, employing a Delegated Proof-of-Stake (DPoS) consensus. A core innovation is its on-chain testing of AI models, which ensures quality, accuracy, and prevents data manipulation. This integration allows smart contracts to interact with and benefit from advanced AI capabilities reliably.

Oraichain's applications are diverse, extending to several areas. These include providing AI Oracles for smarter contracts, which allows them to process complex data and make AI-driven decisions. It also supports a decentralized data marketplace for AI services, and platforms like aiRight for NFT audit and copyright management using AI. Other practical uses encompass face authentication for flexible smart contracts, AI-powered fake news detection, and various DeFi applications such as AI-based yield farming, price prediction APIs, and AI-based credit scoring for lending protocols.

The ORAI token is fundamental to the Oraichain ecosystem. It serves multiple utilities, including paying for transaction fees, particularly for AI requests across the network. ORAI is also used for staking, where validators lock tokens to secure the network, create blocks, fulfill data requests, and earn rewards for their contributions. Furthermore, ORAI holders participate in network governance through the Oraichain DAO, allowing them to vote on protocol upgrades and parameter changes. ORAI exists on its mainnet, as an ERC20 token, and as a BEP20 token, ensuring cross-chain interoperability.

Oraichain distinguishes itself from other oracle solutions by its unique and strong emphasis on AI APIs. While traditional data oracles primarily focus on delivering external data to smart contracts, Oraichain specializes in the on-chain verification, quality control, and testing of AI models themselves. This distinct focus on embedding verifiable AI capabilities directly into decentralized applications, rather than just raw data, provides a unique advantage and sets it apart in the oracle landscape.

The Oraichain network operates as a Decentralized Autonomous Organization (DAO). This structure empowers ORAI token holders to actively participate in the project's governance. Through the DAO, token holders can propose and vote on critical network decisions, such as protocol upgrades, changes to network parameters, and other strategic initiatives that shape the future direction and development of Oraichain. This mechanism ensures decentralized decision-making and community involvement in the project's evolution.