Orachain denotes oracle artificial intelligence for blockchain. Oraichain is a data oracle platform that connects artificial intelligence and machine learning functionalities to regular applications and smart contracts. The inputs have to be 100% accurate in smart contracts to generate an output. However, as AI models can hardly give accuracy, Oraichain reduces some strictness to acquire better functionality and user experience.

The network is a public blockchain that lets users or smart contracts make data requests securely from AI APIs. The mechanism of this currency focuses on AI APIs and the quality of AI models. API (application programming interface) is software that lets two applications communicate. According to the whitepaper, the ORAI consensus protocol is the same as delegated proof of stake (DPoS). The platform consists of numerous validators that own ORAI tokens, while other token holders can be delegators who stake their tokens to validators and get rewarded for every new block created.

ORAI is an ERC20 token that is also the native token of the Oraichain network. The ORAI token is based on the Ethereum network and is called ERC20-ORAI. These tokens are used to power and secure the decentralized oracle network of validators. All validators have to stake ORAI to get selected to create a block or complete data requests. The network is managed in the DAO manner. Hence, token holders engage and vote in the governance of the platform.

The token is also used as a transaction fee to run an AI request directed to the Oraichain network. The transaction fee is paid by various parties like block-creating validators, test case providers, request-executing validators, and AI-API providers. A holder has to stake their tokens on the Oraichain to keep its value. The rewarding token is distributed based on the number of tokens that have been staked to the validator.

Oraichain was cofounded by Chung Dao (CEO), Thao Nguyen (CEO), and Tu Pham (CTO) in 2021. The maximum total supply of the ORAI token is 86,000,000 ORAI coins.

https://orai.io/

https://www.coinbase.com/learn/crypto-basics/what-is-a-smart-contractz

https://www.coinbase.com/learn/crypto-basics/what-is-a-blockchain

https://www.coinbase.com/learn/crypto-basics/what-is-staking

https://www.mulesoft.com/resources/api/what-is-an-api#:~:text=API%20is%20the%20acronym%20for,you're%20using%20an%20API.

https://www.coinbase.com/learn/crypto-basics/what-is-proof-of-work-or-proof-of-stake

https://www.coinbase.com/learn/crypto-basics/what-is-a-protocol

https://docs.orai.io/white-paper

https://www.coinbase.com/learn/crypto-basics/what-is-a-token

https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20

We update our Oraichain Token to GBP currency in real-time. Get the live price of Oraichain Token on Coinbase.

The current market cap of Oraichain Token is £6.72M. A high market cap implies that the asset is highly valued by the market.

The all-time high of Oraichain Token is £81.04. This all-time high is highest price paid for Oraichain Token since it was launched.

Over the last 24 hours, the trading volume of Oraichain Token is £148.354K.

Assets that have a similar market cap to Oraichain Token include Coinbase Tokenized Stock (Ondo), Gleec Coin, Bitlight, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Oraichain Token is 14 million.