What is Oraichain Token?
OraiChain (ORAI) is a blockchain platform that connects artificial intelligence and machine learning capabilities to traditional applications and smart contracts. As the name suggests, Orachain is an oracle artificial intelligence platform that provides accurate and reliable data for smart contracts, using AI and machine learning models to reduce strictness and enhance user experience.
OraiChain is a public blockchain that allows users or smart contracts to securely request data from AI APIs. The mechanism of the currency focuses on AI APIs and the quality of AI models to ensure the highest level of accuracy. The ORAI consensus protocol is the same as the delegated proof of stake (DPoS), which consists of numerous validators who own ORAI tokens. Other token holders can become delegators by staking their tokens to validators and getting rewarded for every new block created.
ORAI is the native token of the OraiChain network and is an ERC20 token based on the Ethereum network. These tokens power and secure the decentralized oracle network of validators, and validators have to stake ORAI to get selected to create a block or complete data requests. The network is managed in a DAO manner, which means token holders engage and vote in the governance of the platform.
ORAI tokens are also used as transaction fees to run AI requests directed to the OraiChain network. The transaction fee is paid by block-creating validators, test case providers, request-executing validators, and AI-API providers. To keep its value, a holder has to stake their tokens on the OraiChain, and the rewarding token is distributed based on the number of tokens that have been staked to the validator.
Oraichain was co-founded by Chung Dao (CEO), Thao Nguyen (CEO), and Tu Pham (CTO) in 2021. The maximum total supply of the ORAI token is 86,000,000 ORAI coins.
In conclusion, OraiChain (ORAI) is a revolutionary blockchain platform that leverages artificial intelligence and machine learning capabilities to offer highly accurate and reliable data for smart contracts. The ORAI token is the native currency of the OraiChain network and is used to power and secure the decentralized oracle network of validators, while also acting as a transaction fee for AI requests. With its talented team and innovative technology, OraiChain is poised to play a significant role in the future of blockchain and AI.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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