Oraichain Token

What is ORAI and how Does It Work?

ORAI, the token associated with Oraichain, is notable in the sphere of blockchain for its capability to facilitate IBC (Inter-Blockchain Communication) on Layer 1. This function contributes to the verification process of AI algorithms and enables the development of Web3 applications that utilize a specified AI oracle. A video presentation is accessible to have a clear understanding of actions related to Oraichain and its contributions, offering a graphical comprehension of the token and its respective utility. ORAI is a part of the DWF Labs Portfolio tokens, indicating its application in numerous digital portfolios. The ORAI token comes with policy dynamics that encompass token burn and inflation guidelines that control the token's circulation and economic repercussions. An end date for trades is set for January 24, 2024, which accords an extended timeframe for traders to prepare. An active Medium account for ORAI provides insights and information about the token's behavior and the wider landscape of blockchain.

The Vision and Mission Behind ORAI

The Oraichain ecosystem employs the ORAI token in its integration with an AI-driven oracle for blockchains. The strategic approach aims at advancing key features of AI, DeFi, and blockchain fields, with the objective of fostering human-centric contexts and enhancing comprehension of these domains. The insights from Tu Pham, the CTO, emphasize the necessity for comprehensive dialogue and exploration of AI and blockchain ideas. The Oraichain Foundation, closely linked with the ORAI token, values the involvement of its community in the enhancement of its offerings through reciprocal dialogue and engagement.

How to Buy and Store ORAI?

To purchase ORAI, Flooz.xyz offers a streamlined process. Traders can purchase the ORAI token via Flooz.xyz, which serves as a one-stop solution for all your token buying needs. With a smooth checkout process and support for all payment methods, you can easily tap, tap, and go! But that's not all - Flooz.xyz also provides a self-custodial web wallet for seamless ORAI transactions. This web wallet allows you to store, send, and receive tokens with ease. Creating a self-custodial wallet is a breeze - simply use your email, Google, or Apple ID, and you'll have a wallet ready in seconds. This ensures that you have full control over your funds, thanks to the power of cryptography. And to top it all off, Flooz.xyz aggregates over 50+ providers to offer you the fastest and cheapest payment routes for your trades. With over 85,000 active traders already captivated by the seamless and optimized experience, Flooz.xyz is your go-to platform for buying ORAI and other cryptocurrencies.

ORAI Metrics:

• Current price: $8.7447

• Market cap: $146.09 M

• All-time high: being indexed (being indexed)

• All-time low: being indexed (being indexed)

• Daily trading volume: $83.91 k

Key Technological Features of ORAI

Oraichain's mainnet and subnetworks connect with several decentralized networks, including the Oraichain Mainnet, Cosmos, Ethereum, and BNB Smart Chain. The ORAI token contributes to the functionality of smart contracts, opening the opportunity for various blockchain applications. It contributes to improve the usability and user experience on the platform, enhancing its adaptability for business use. The ORAI mainnet features a unique payment system and seeks community input for continuous improvements. In addition, ORAI collaborates with the Ethereum network and BNB Chain Ecosystem, demonstrating its ability to engage with multiple blockchain systems. To conclude, Oraichain implements a transaction fee structure that accounts for the number of tokens held and the voting power of traders.

How Secure is ORAI? Understanding Its Security Protocols

ORAI is crafted to enhance data quality and reliability for smart contracts in the Web3, DApps, and decentralized AI sector. The project incorporates a DAO Treasury, although additional details about this element are not accessible. Proofs are vital for submission to the Layer 1 AI Oracle that verifies the correctness of the data provided. The Oraichain network brings adaptable privacy and decentralized storage options, offering a dynamic and privacy-focused experience. The ORAI system has put an emphasis on configurable privacy with its distributed storage solutions. Misbehaviour within the network is addressed through penalties associated with AI API quality, response time, and availability. This mechanism aims to upgrade performance and handle structural deficiencies.

What's Next for ORAI? Upcoming Developments and Roadmap Insights

The OWallet has been designed to enhance the mobile user experience through numerous features like swap and cross-chain bridge offered by the OraiDEX web browser interface. The Oraichain Foundation is committed to providing resources that meet the specific requirements of the DAO. While Oraichain Mainnet 2.0 does not explicitly outline token minting procedures for ORAI, it is an ongoing topic under review with no explicit details provided. The AI X Blockchain Ideas Competition has no predetermined guidelines. Furthermore, Oraichain, in collaboration with Dorahacks, co-organizes the AI x Blockchain Cook hackathon to optimize the Oraichain ecosystem for dApp developers and users. Support from the Foundation extends to open-source core protocols. Updates on the Oraichain hackathon and its concluding ceremony will be communicated through designated channels. The Oraichain network functionality is utilized by various projects such as the CosmWasm EVM and OWallet Universal Wallet for Web3 DApps. Participating in network governance involves voting within the Oraichain DAO. The Oraichain Mainnet serves as the project's primary network. Going forward, the OWallet mobile will introduce native swap and cross-chain bridge functionalities.

Role of ORAI in the Current Cryptocurrency Landscape

The ORAI token plays a crucial role in the Oraichain network by assisting users in formulating AI requests on the platform. This unique concept intertwines AI with Blockchain to encourage collective AI training, observing the primary utility of a blockchain network. ORAI's functional responsibilities are sustained through transaction fees received from various activities on the platform.

The Team Behind ORAI: Who Are the Founders and Key Players?

OWallet is an aspect of the Oraichain ecosystem, serving as an AI oracle and establishing a standard interface between Cosmos networks and Web3 dApps. Oraichain's collaboration with the Andromeda Protocol and Mant is noteworthy. John DiBernardi of Mystic Labs plays a key role in these collaborations. The decentralized nature of the Oraichain system allows participants to vote on various projects and participate in governance. It is also worth mentioning that efforts have been made to improve community interaction, including the organization of hackathons and the inception of the Foundation Delegation Campaign, supported by the Oraichain Foundation. Additionally, Oraichain's platform incorporates mechanisms such as block payouts and reserves for maintaining financial stability. Dr. Chung Dao, co-founder and CEO of Oraichain, leads the company.

Real-world Applications: How is ORAI Being Used Today?

Oraichain offers an expansive ecosystem composed of products associated with DeFi, NFTs, Identity, Collective Intelligence, Asset Tokenization, Smart Healthcare, and decentralized file storage. It empowers you to manage your assets across networks such as Oraichain Mainnet, Cosmos, Ethereum, and BNB Smart Chain. The features extend beyond asset management; it also equips dApp developers with essential tools to incorporate Web3 asset management and payment functions into their applications.

Within the Oraichain ecosystem, varied assets like tokens, NFTs, and dApp tokens are integrated. Networks such as Oraichain Mainnet, Cosmos, Ethereum, BNB Smart Chain, and Bitcoin are consistent with the platform's functionality. Participants across the Oraichain network might receive additional ORAI tokens via roles such as validators and test case conductors, fostering the dissemination of reports after every blockchain event.

The interconnected ecosystem of Oraichain Data & Request Hub, AI API Marketplace, Publisher Service, Training Service, and DApp Hosting facilities form a comprehensive AI-powered oracle structure. The entity provides services including price feeds, chain VRF, Data Hub, AI APIs, and AI-enhanced NFT properties, among other functionalities.

Oraichain provides the potential for real-world assets to be tokenized using AI analytics, data validation, and thorough due diligence process, which can assist in market making. Additionally, it outlines the ORAI token, allowing for commercial dApp development and assisting in the funding of software services within said dApps, establishing a subscription module for managing subscription status.

The Oraichain ecosystem absorbs components such as the OraiBridge for cross-chain communication, and the Oraichain AI Marketplace offering AI products and APIs. Token holders can stake their tokens on the platform and could receive rewards. Test case providers play a vital role in generating reports and possible aggregation of rewards. The ORAI tokens may be engaged in application logic forging dependence in smart contracts. Oraichain employs IBM Plex San as its primary typography for a uniform visual appearance.