Oraichain is a layer one data oracle platform and ecosystem on a mission to combine the realms of blockchain and artificial intelligence. 

Here’s how Oraichain describe themselves: 

The platform is designed to connect artificial intelligence APIs with smart contracts, and is the first AI-powered data oracle.

The network is built based on Cosmos SDK along with the Tendermint consensus mechanism for speed, scalability,  and interoperability. 

(Extremely) simple overview

Whereas oracle blockchains tend to solely focus on price oracles, Oraichain differs by offering decentralized applications (dApps) access to external AI data. To ensure the AI data is reliable, it is tested by network validators - once verified, the data is stored on-chain for future use.

Oraichain offers users and developers six main features:

AI Oracle

AI Marketplace - this is where AI providers can sell their AI services to Oraichain. Users can buy them too. Providers are rewarded with ORAI tokens.

AI Ecosystem - AI infrastructure to support AI model developers

Staking and Earning - network validators are rewarded with ORAI tokens

Test Cases

Orai DAO - anyone owning ORAI can participate in the network’s governance

ORAI token utility?

ORAI is the network’s native token and is used to cover transaction fees, participate in the Oraichain DAO and validate the network through staking. 

Check out the Oraichain website for more information.