Who issued the Oraichain (ORAI) coin?

Oraichain (ORAI), a decentralized oracle network, utilizes PoS consensus and a dual-token economy for reliable data provision to smart contracts.

Dec 20, 2024 at 10:25 am

Key Points

• Definition of Oraichain (ORAI) coin
• Origin and Issuance of ORAI Coin
• Features and Use Cases of ORAI Coin
• ORAI Coin Market Performance
• Oraichain's Team and Partnerships
• ORAI Coin Future Prospects

Oraichain (ORAI): An Introduction

Oraichain (ORAI) is a decentralized oracle network that aims to provide reliable and tamper-proof data to smart contracts. It operates on the Proof-of-Stake (PoS) consensus mechanism and features a dual-token economy with both ORAI and ORAI-S tokens.

Origin and Issuance of ORAI Coin

• ORAI was issued by Oraichain, a decentralized data oracle protocol.
• The coin was launched through an Initial Exchange Offering (IEO) on KuCoin and BitMax in December 2020.
• Oraichain Foundation holds a significant portion of ORAI tokens, which are released gradually over time to fund the project's development.

Features and Use Cases of ORAI Coin

• Provides reliable and verifiable data for smart contracts through decentralized oracles.
• Dual-token model allows for both value accrual (ORAI) and staking (ORAI-S).
• Facilitates cross-chain communication, enabling smart contracts to access data from various blockchains.
• Used for payment of transaction fees, governance voting, and delegation rewards.

ORAI Coin Market Performance

• Listed on major cryptocurrency exchanges including KuCoin, Gate.io, and Uniswap.
• Has a high 24-hour trading volume, indicating strong market interest.
• Price has shown significant volatility, influenced by market conditions and project developments.

Oraichain's Team and Partnerships

• Led by a team of experienced blockchain developers and data scientists.
• Has partnerships with leading blockchain projects such as Polygon, NEAR Protocol, and Flare Network.
• Collaborates with academic institutions and industry partners to enhance its oracle capabilities.

ORAI Coin Future Prospects

• Growing demand for reliable data in the decentralized finance (DeFi) sector.
• Potential for expansion into new industries requiring oracle services.
• Ongoing development of the Oraichain network and features.

FAQs

• Who is the founder of Oraichain?
  Oraichain was founded by Dr. Chung Dao, who is the Chief Executive Officer of the project.
• What is unique about Oraichain's oracle network?
  Oraichain uses a decentralized network of nodes to verify and aggregate data, ensuring reliability and tamper-proof information.
• What is the purpose of ORAI-S tokens?
  ORAI-S tokens are used for staking in the Oraichain network and are essential for securing the blockchain and earning rewards.
• What is the total supply of ORAI tokens?
  The total max supply of ORAI is 1 billion coins, with a current circulating supply of approximately 220 million coins.
• Where can I buy ORAI coins?
  ORAI coins can be purchased on major cryptocurrency exchanges such as KuCoin, Gate.io, and Uniswap.