oraichain

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Service Information

• Moniker: OWALLET

• Validator address: oraivaloper1q53ujvvrcd0t543dsh5445lu6ar0qr2zv4yhhp

• Seed: [email protected]:10005

• Software version: v0.42.4

• RPC: https://orai-rpc.owallet.io

• LCD: https://orai-rest.owallet.io

• GRPC:orai-grpc.owallet.io:9999

• EvmRpc: https://orai-evm.owallet.io

• Snapshot: https://snapshot.owallet.io

Staking Information

• Staking Apr: 14.79%

• Validator commission: 3%

• Unbonding Time: 14 days

• Stake UI: scanium

Project Information

• coingecko

• x.com

• github.com

Describle

Oraichain is an AI-powered, decentralized oracle and blockchain ecosystem that aims to enhance the capabilities of decentralized applications (dApps) by integrating artificial intelligence (AI) into smart contracts. Oraichain operates as a layer 1 blockchain platform built on the Cosmos SDK, and it provides AI oracles, data, and AI services for DeFi, blockchain-based applications, and the AI economy.

Key Features of Oraichain:

1. AI Oracles:

   • Oraichain introduces AI oracles, which are designed to bring artificial intelligence models and machine learning algorithms to smart contracts.

   • These AI oracles provide data feeds that incorporate AI processing, allowing smart contracts to execute decisions based on AI-processed data, predictions, and machine learning outcomes.

   • This is an upgrade from traditional data oracles, which typically only provide raw data without any computational processing.

2. Decentralized AI Marketplace:

   • Oraichain offers a decentralized AI marketplace, where developers, data scientists, and AI providers can publish, share, and monetize their AI models and datasets.

   • This marketplace enables smart contract developers to access a wide range of AI services, such as data analytics, image recognition, price prediction models, and more, all in a decentralized manner.

   • The marketplace allows AI developers to be paid directly by users for their services, creating a decentralized AI economy.

3. AI-Powered Smart Contracts:

   • Oraichain enables the creation of AI-powered smart contracts, which can trigger actions based on AI outputs and predictions.

   • By integrating AI into smart contracts, dApps can perform more complex functions, such as executing trades based on market predictions, verifying identity through facial recognition, or analyzing sentiment in social media for governance purposes.

   • This unlocks new possibilities for decentralized finance (DeFi), NFTs, gaming, and other blockchain-based applications.

4. Cross-Chain Compatibility:

   • Oraichain is built on the Cosmos SDK, making it inherently interoperable with other blockchains in the Cosmos ecosystem via the Inter-Blockchain Communication (IBC) protocol.

   • This cross-chain compatibility allows Oraichain’s AI oracles and services to be used by other blockchain networks, expanding the utility of AI beyond a single blockchain.

5. Oraichain Token (ORAI):

   • The native token of Oraichain is ORAI, which is used to pay for AI services, transaction fees, and for staking to secure the network.

   • ORAI holders can participate in network governance by voting on protocol upgrades, AI oracle updates, and other key decisions that shape the future of the platform.

   • Validators on the network stake ORAI tokens to secure the chain, validate transactions, and provide services related to AI oracles.

6. Proof-of-Stake (PoS) Consensus:

   • Oraichain operates on a Proof-of-Stake (PoS) consensus mechanism, where validators are responsible for securing the network and validating transactions.

   • Validators are incentivized to behave honestly through staking rewards, and they can be penalized (through slashing) for malicious behavior.

   • Users can delegate their ORAI tokens to validators to earn staking rewards while helping to secure the network.

7. AI-Based DeFi:

   • Oraichain’s AI integration offers novel use cases for AI-based DeFi applications, enabling projects to leverage AI for more sophisticated financial services.

   • Examples include AI-enhanced price oracles for lending platforms, trading algorithms for decentralized exchanges, or AI-based credit scoring for decentralized lending protocols.

8. AI API and SDK:

   • Oraichain provides an AI API and SDK that developers can use to integrate AI features into their decentralized applications.

   • These tools allow developers to create smart contracts that can request and utilize AI services for various purposes, from data analysis to AI-driven decision-making.

9. AI-Optimized Data Sources:

   • Oraichain provides access to AI-optimized data sources, which means that the data offered by the oracles is pre-processed or enhanced by AI models before being delivered to smart contracts.

   • This offers a higher level of sophistication for smart contracts, enabling them to perform tasks like verifying the quality of data or executing logic based on advanced analytics.

10. Data Security and Oracle Reputation:

    • Oraichain ensures the reliability of AI data by implementing a reputation system for AI models and data providers.

    • AI oracles and providers are continuously evaluated based on their performance and accuracy, with higher-ranked providers gaining more trust within the ecosystem.

    • This reputation system mitigates the risk of poor-quality or malicious AI data being used by smart contracts.

11. Governance and Decentralization:

    • Oraichain operates with a decentralized governance model, where ORAI token holders can vote on proposals that impact the development and evolution of the network.

    • This includes voting on updates to the AI oracles, modifications to platform features, or proposals to integrate new AI services into the marketplace.

12. NFTs and AI:

    • Oraichain also supports the creation and enhancement of AI-generated NFTs, where AI models can be used to generate unique digital art, identity verification for NFT ownership, or dynamic NFTs that evolve based on AI-driven data inputs.

    • This introduces a new frontier for the NFT market, where AI can contribute to the creation, management, and value of NFTs.

Use Cases of Oraichain:

• AI DeFi: Smart contracts using AI models for better price oracles, prediction markets, or credit scoring systems for DeFi applications.

• AI-Powered Governance: AI models can analyze large datasets to help decentralized governance systems make more informed decisions, such as voting trends or sentiment analysis.

• AI-Driven NFTs: AI can be used to create dynamic NFTs that evolve based on real-world data inputs, as well as create unique AI-generated digital art.

• Data Verification: Oraichain’s AI oracles can verify the quality or authenticity of data before it's used in smart contracts, enhancing security and accuracy.

Summary:

Oraichain is a decentralized, AI-powered oracle and blockchain ecosystem that integrates artificial intelligence into smart contracts. It enables AI-driven applications, DeFi, and NFTs by providing AI oracles and services that are interoperable with other blockchains in the Cosmos ecosystem via IBC. Oraichain offers a decentralized AI marketplace, a governance model, and tools for developers to create dApps that utilize AI-enhanced data and services. Through its native token ORAI, the network is secured by a Proof-of-Stake consensus mechanism, allowing users to participate in governance and staking. Oraichain aims to create a powerful AI ecosystem that bridges blockchain technology with real-world AI applications.