Oraichain is a data oracle platform that focuses on connecting trustless applications with Artificial Intelligence models. The platform is powered by the ORAI token for payments and governance. Here we will take a look at what is Oraichain building in the blockchain data oracle sector.
Oraichain is a bridge for connecting AI to smart contracts, the core technology of providing data streams to trustless applications is similar to Tellor or DIA. However, Oraichain is taking a more niche approach by focusing on AI models. Currently, smart contract languages such as Solidity or Vyper are much too strict to implement AI models natively on-chain. Generally speaking, they require inputs that are 100% accurate because code is the law.
Whereas, an AI model for face recognition would work off percentages of accuracy. Furthermore, to implement an efficient AI strategy you need high amounts of storage to input lots of data. But, blockchain networks such as Ethereum often limit the storage to help keep transaction fees down. As a result, Oraichain aims to bridge the gap by enabling secure access between smart contracts and Artificial Intelligence models.
The platform is a public blockchain that implements a delegated proof of stake (dPoS) consensus protocol. In this way the transaction times are fast and data requests can be completed quickly. ORAI is the platform’s native cryptocurrency for paying network transaction fees, such as making data requests or setting up a validator.