Oraichain is a unique player in the blockchain sphere, aiming to serve as the world's first AI-powered oracle and ecosystem for blockchains. It aims to become an advanced AI Layer 1 for Data Economy and Oracle services, providing a foundational layer for the creation of a new generation of smart contracts and Dapps. Oraichain's ecosystem includes AI price feeds, fully on-chain VRF, Data Hub, AI Marketplace with 100+ AI APIs, AI-based NFT generation and NFT copyright protection, Royalty Protocol, AI-powered Yield Aggregator Platform, and Cosmwasm IDE. The platform's goal is to bridge the gap between AI and blockchain by enabling smart contracts to securely access external AI APIs.

Oraichain operates by enabling smart contracts to securely access external AI APIs, enhancing their functionality. It uses a unique mechanism that focuses on AI APIs and the quality of the provided AI models. In each user request, test cases are attached, and the providers’ API must pass a certain number of test cases to be compensated. Validators manage the features of test cases and AI model quality, making Oraichain distinct. The platform also includes an AI Marketplace where users can access and choose from an ever-increasing number of AI algorithms and models from different providers worldwide. Additionally, AI developers, individuals or companies, can publish, edit, and manage their work and earn rewards from users on a global scale.

Oraichain can be utilized in various scenarios where AI is useful and necessary. These include identification based on biometric methods such as face and fingerprint, automated trading based on price prediction and AI strategies, lending based on credit scores, comparison of two products from their photos, and evaluating the price of game items. The platform also allows users to make different requests to AI services that are not easy to find elsewhere, as the service providers may not have enough resources to provide a stand-alone AI service application.

Oraichain was initially developed with the aim of becoming the world’s first AI-powered oracle and ecosystem for blockchains. Over time, it has evolved and expanded its services, now offering a wide range of products and services including AI price feeds, fully on-chain VRF, Data Hub, AI Marketplace with 100+ AI APIs, AI-based NFT generation and NFT copyright protection, Royalty Protocol, AI-powered Yield Aggregator Platform, and Cosmwasm IDE. The platform's community has the power to rate the validators’ reputation for quality AI APIs improvement, and validators are encouraged to improve the accuracy of AI models.