Oraichain is an AI-powered data oracle network built on blockchain technology with a native token: ORAI. As a blockchain-based AI oracle, Oraichain provides secure and decentralized data feeds for smart contracts. Also, it enables AI-driven data analysis and insights while supporting the development of decentralized applications (dApps).
According to Oraichain, it is ‘the world’s first layer 1 of AI oracle established in 2020. It is now driving advancements in data-centric artificial intelligence and cross-chain interoperability, paving the way for next-generation Web3 applications.”
Oraichain (ORAI) Key Features
AI Data Oracle: The platform enables smart contracts to access external AI interfaces. Overall, this enhances the smart contracts’ executability.
AI Integration: From different AI providers worldwide into a common marketplace. Markedly, integrating AI services increases application functionalities.
Staking Options: By staking ORAI tokens on the Oraichain, users can earn rewards in the form of more $ORAI. Moreover, the more users stake their tokens on the network, the more secure and efficient it becomes.
Decentralized Governance: Users with ORAI tokens make decisions concerning actions on the Oraichain. Validators and stakeholders on the platform initialize projects and review changes on Oraichain.
Smart Contract Support: Notably, the platform is compatible with multiple blockchains, allowing for seamless interoperability.
Benefits of the Project
With Oraichain, there is tamper-proof data for smart contracts through secure data feeds. In addition, AI-provided insights for businesses lead to enhanced decision-making.
Interestingly, the project has multiple potential use cases including GameFi and DeFi, predictive modelling, supply chain management, etc. Accordingly, these provide more revenue streams for data providers through innovative monetization.
Oraichain (ORAI) Tokenomics
3 kinds of ORAI tokens: Native ORAI token on the Oraichain Mainnet, ERC20 ORAI on the Ethereum blockchain and BEP20 ORAI on the BNB Chain.
Token Supply as of August 2023
Total Circulating Supply: 15,078,971 ORAI
Total supply: 16,779,272 ORAI
Max supply: 19,779,272 ORAI
Oraichain Ecosystem: 5,538,595 ORAI
DAO Treasury: 1,700,000 ORAI
Oraichain Foundation: 6,062,294 ORAI
Source: Oraichain
Current Status of Oraichain ($ORAI)
The project completed its mainnet launch in October 2021. Presently, the token is listed on major exchanges like Binance, KuCoin, Huobi, etc, as ORAI/USDT, ORAI/BTC and ORAI/ETH trading pairs.
Meanwhile, the project had serious community engagement on social media platforms like X, Telegram, Discord and Medium. While the mainnet is live, there’s still ongoing development and partnerships to enlarge the Oraichain ecosystem.
In Conclusion
Being the first of its kind: incorporating AI data in blockchain functions, Oraichain could be the next big thing for investors. However, users must carry out thorough research on the project to assess its feasibility before investing.
Then, check your risk tolerance level and invest only what you can afford to lose.