What currency is ORAI? What does ORAI coin mean?

ORAI, the native cryptocurrency of the ORAI Network, empowers decentralized app development, secures the network through staking, and facilitates governance through holder voting.

Oct 09, 2024 at 01:11 pm

What is ORAI Currency?

1. Overview
ORAI is the native cryptocurrency of the ORAI Network, a blockchain platform designed for the development of decentralized applications (dApps). ORAI aims to enhance scalability, security, and user privacy through its unique consensus mechanism and innovative architecture.

2. Function of ORAI Coin
The ORAI coin serves several crucial functions within the ORAI Network:

Transaction Fees: ORAI is used to pay transaction fees on the network, ensuring that there is an incentive for nodes to validate and process transactions.
Staking: Users can stake their ORAI coins to participate in the Proof-of-Stake (PoS) consensus mechanism, which secures the network and earns them rewards.
Governance: ORAI holders can participate in the governance of the network by voting on proposals related to protocol upgrades, fee structures, and other aspects of the network's operation.

3. Technical Specifications

Chain ID: ORAI Pangolin
Consensus Mechanism: Proof-of-Stake (PoS)
Total Supply: 100 million ORAI
Block Time: 3 seconds

4. Use Cases
ORAI is primarily used in the following scenarios:

Decentralized applications (dApps) built on ORAI Network
Transaction fees for moving ORAI and other assets on the network
Staking for network security and rewards
Governance of the ORAI Network

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