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What is Oraichain (ORAI) coin and how does it work?

by Financial Economy

As a data platform, Oraichain deals with the collection and connection of smart contracts and AI (Artificial Intelligence) APIs. We can say that it is the first artificial intelligence supported data platform in the world. There are currently six main areas/features that Oraichain brings to the table. Information about some topics that what is Oraichain (ORAI) coin, how it works, how to buy it, on which exchange, how much is it, etc. is in continuation of the article. You can browse here for information about Calamari Network (KMA) coin.

What is Oraichain (ORAI) coin and how does it work?

The Oraichain public Blockchain network allows a series of user-generated data requests. In addition to users requesting data, blockchain also allows smart contracts to securely request data from AI APIs outside of the network. The blockchain network is built using the Cosmos SDK and uses Tendermint’s Byzantine Fault Tolerance (BFT) as a consensus mechanism to enable rapid processing of transaction confirmations.

In terms of consensus mechanism, the Oraichain protocol is similar to Delegated Proof-of-Stake (DPoS). The network consists of validators who each own and share the ORAI token, while other users with the ORAI token can transfer them to candidate validators. In this way, both validators and grantors receive rewards proportional to their stake in each newly created block.

The platform’s token is the ORAI coin. An ICO was held in October 2020 where ORAI tokens were sold for $0.081 each.

Oraichain features!

We can talk about the features of the Oraichain platform as follows:

Artificial intelligence

Oraichain is designed to enhance the utility of smart contracts by allowing them to access AI-driven external APIs. Current Oracle chains focus primarily on price predictions, but Oraichain plans to change all that.

AI Marketplace

AI Marketplace on Oraichain is where AI providers can sell their AI services. This brings AI to Oraichain and rewards providers with ORAI tokens. There are a number of services provided, including price estimation, face authentication, yield farming, and much more.

AI Ecosystem

AI Marketplace is not the only part of Oraichain’s AI ecosystem. There is additional AI infrastructure to support AI model developers. The ecosystem includes a fully developed and functional web GUI to help deliver AI services faster and with less hassle.

Stakes & Earnings

Validators stake their tokens and receive rewards for securing the network. Other users can also transfer their tokens to existing validators and share these rewards proportionally. It is important for delegators to understand that this is not passive income.

Test Cases

Test cases are provided to Oraichain to verify the integrity and accuracy of any AI service on the Blockchain network. It is possible for third parties to be test case providers and then review specific AI models to determine if they are suitable to work on Oraichain and charge fees. Users can provide expected outputs and see if AI model results are similar. These test cases providers encourage AI providers to continue to deliver top quality services.

Orai DAO

Management on Oraichain is done by the community on a DAO model. Anyone holding ORAI tokens can participate in the management of the network. They can also participate in the ongoing development and future plans for the Oraichain ecosystem.

Which exchange is ORAI coin on?

Oraichain token is listed on some cryptocurrency exchanges such as KuCoin, Gate.io, BKEX, PancakeSwap (V2), Uniswap (V2), etc.

How to buy ORAI coins?

Oraichain coin can be purchased from listed some cryptocurrency exchanges, like mentioned above. However, before trading, it is necessary to make sure that the exchange and the crypto project are “RELIABLE”. It is so important point for investors.

ORAI token supply!

Total and maximum supply of Oraichain token is 19.779.272  ORAI.

ORAI token price!

As of November 14, 2022, at the time of the writing, 1 Oraichain coin price is around $1,05 (because of the volatility on crypto market the price can change instantly).

Caution: The information contained in this content is for general informational purposes only. It is not investment advice.

For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency

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