What currency is Oraichain (ORAI)?

Oraichain (ORAI) leverages AI-powered data oracles and decentralized networks to enhance data reliability and accessibility in Web3 and DeFi applications.

Dec 22, 2024 at 07:14 am

Key Points:

• Oraichain (ORAI) is a public, permissionless blockchain protocol designed to enhance the reliability and accessibility of data.
• ORAI is the native utility token of the Oraichain ecosystem, used for various purposes within the platform.
• Oraichain aims to address challenges associated with data quality, security, and transparency in the decentralized world.

What is Oraichain (ORAI)?

Oraichain (ORAI) is a Layer 1 blockchain protocol that leverages artificial intelligence (AI) and decentralized oracle networks to ensure data reliability and accessibility in Web3 and decentralized finance (DeFi) applications.

• Data Reliability: Oraichain employs AI-powered data oracles and data validation mechanisms to verify and ensure the trustworthiness of information. This process reduces the risk of data manipulation, fraud, and bias, enhancing the accuracy and integrity of data on the blockchain.
• Data Accessibility: Oraichain enables developers to access a wide range of curated and validated data sources through its decentralized oracle network. This eliminates the need for individual data sources and facilitates the integration of trusted data into smart contracts and decentralized applications.
• Data Governance: Oraichain promotes transparent and participatory data governance through its decentralized protocols and community-driven mechanisms. Data providers, consumers, and validators participate in the governance process, ensuring fairness, accountability, and long-term sustainability of the ecosystem.

ORAI Token Utility

ORAI is the native utility token of the Oraichain ecosystem, serving several crucial functions within the platform:

• Data Request Fees: ORAI is used to pay for data requests from the Oraichain oracle network. The fees incentivize data providers to contribute their data and maintain the quality and reliability of the ecosystem.
• Staking and Rewards: ORAI holders can stake their tokens to participate in the consensus mechanism and earn rewards. This process helps secure the network and promotes the participation of the community in the Oraichain ecosystem.
• Governance Participation: ORAI token holders have the right to vote on governance proposals that shape the future development and direction of the Oraichain protocol.

ORAI Tokenomics and Distribution

The total supply of ORAI is capped at 2 billion tokens, with the initial distribution as follows:

• Public Sale: 35%
• Team and Advisors: 25%
• Ecosystem Development: 20%
• Private Sale: 10%
• Strategic Round: 10%

Conclusion

Oraichain (ORAI) is a revolutionary blockchain protocol that empowers developers with access to reliable and accessible data. Its unique features, such as AI-powered data verification and decentralized oracle networks, address critical challenges faced in the current data infrastructure. With its native utility token, ORAI, the Oraichain ecosystem fosters community involvement, encourages data integrity, and facilitates the development of innovative decentralized applications in Web3 and DeFi.

FAQs:

• What are the benefits of using Oraichain?

Oraichain provides enhanced data reliability, improved accessibility to verified data sources, and transparent data governance.

• How can I acquire ORAI tokens?

ORAI tokens can be purchased on cryptocurrency exchanges or through participating in the Oraichain ecosystem, such as by staking or participating in data validation processes.

• What is the purpose of the ORAI token?

ORAI tokens are used to pay for data requests, participate in staking and rewards, and engage in governance activities.

• What makes Oraichain unique?

Oraichain combines AI-powered data verification and decentralized oracle networks to ensure data trustworthiness and accessibility, which sets it apart from other blockchain protocols.