Thread by @Altcoin_Gold

$ORAI 🧵 #AI is a hot trend right now. Read this brief overview to find out how one project, @oraichain is incorporating AI into #crypto

$FET $MAN $TAO $OCEAN $DNX #ORAI #Altcoins

Introduction to ORAI:

Oraichain is a blockchain network that enables users and smart contracts to securely request data from AI APIs.

The network uses a consensus protocol similar to delegated proof-of-stake (DPoS) and is built on the Cosmos SDK and Tendermint's Byzantine Fault Tolerance consensus, which helps to speed up transaction confirmation times.

Oraichain is an innovative technology that aims to become the world's first AI-powered oracle and ecosystem for blockchains. It serves as a foundational layer for the creation of a new generation of smart contracts and Dapps.

This is great because it brings AI to smart contracts, which is something that has been missing from conventional blockchains. With Oraichain, developers can integrate AI services to increase the functionalities and values of their applications.

Why Conventional Blockchains Don't Include AI Models:

Current smart contracts cannot run AI models inside, and it is extremely difficult to integrate an AI model into a smart contract. This is due to the strictness, environment, and data size of smart contracts.

Smart contracts are mostly written in high-level programming languages such as Solidity and Rust that provide stricter syntax and better security. Where as the AI models are typically written in Python or Java.

Smart contracts often have relatively small storage since it helps reduce transaction fees in some blockchain networks such as Ethereum. But the size of an AI model is much bigger.

Oraichain's Solutions:

Oraichain aims to bridge the gap between AI and smart contracts. It has a mechanism similar to Band Protocol and Chainlink, but it focuses more 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 receive payment. This ensures the quality of the AI models and makes Oraichain unique.

AI Marketplace:

Oraichain provides a marketplace where users can access, look up, and choose an ever-increasing AI selection of algorithms and models from different providers around the world.

This allows developers to easily integrate AI services into their applications and improve their functionalities and values.

AI Provider:

AI developers, individuals or companies, can have a chance to publish, edit, and manage their work and earn rewards from the users on a global scale. This allows them to improve their models, collect data and continue to provide exceptional AI services.

Users & AI requests:

Users can 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.

If the services are great, sending funds to these services can be worth considering to allow them to grow more and more.

ORAI DAO:

Oraichain is for and by the community. The Oraichain team just helps initialize the project and when the mainnet is started, any changes of Oraichain should be governed by the community via the ORAI DAO.

This means that the community will have a direct say in the direction and development of the Oraichain project. This decentralization ensures that the project remains true to its principles and is responsive to the needs of its users.

$ORAI token uses:

The ORAI token is the lifeblood of the Oraichain ecosystem, powering the network and providing key functionalities for its users. These include staking, transaction fees, and participation in network governance.

ORAI tokens are used to secure the network through staking by validators, as well as to pay for transaction fees when running AI requests on the network. Additionally, ORAI tokens are used for participation in network governance through the ORAI DAO.

The ORAI token also serves as a transaction fee on the Oraichain network. This fee is paid by validators, AI-API providers, testcase providers, and block-creating validators.

These parties are incentivized to provide high-quality AI services and data, as they will be rewarded proportionally based on their role in fulfilling a specific data request.

Minting ORAI:

There are two ways to mint ORAI tokens on the Oraichain Mainnet. The first is through block rewards for validators, and the second is through rewards for validators executing test cases and data sources.

To ensure the value of the ORAI token is protected, holders can stake their tokens to become validators and earn rewards. Additionally, measures are in place to penalize bad behavior by validators, such as slashing their staked tokens.

This helps ensure the security and stability of the network.

To summarize, the ORAI token plays a critical role in the Oraichain ecosystem, providing key functionalities and incentives for users to participate and contribute to the network's growth.

As the project continues to evolve, the utility and value of the ORAI token should increase. This is great because it encourages community participation and ensures the long-term success of the network.

Tokenomics

Currently the circulating supply is 4M out of a total supply of 19.8M. The inflation to circulating supply is mostly coming from staking & gradual token unlocks and is not set to be fully released until 2027.
More info can be found here: docs.orai.io/readme/tokenom…

There's a lot going on with $ORAI so I suggest you use these useful links to learn more:
Website - Orai.io
Twitter - @oraichain
Docs - docs.orai.io

Overall, Oraichain is a revolutionary technology that brings AI to smart contracts & the #blockchain, enabling a new generation of decentralized applications and services. With the current trend of #ai it is sure to do well.

If you enjoyed this introduction to $ORAI, consider liking and retweeting. If you want more daily #altcoin info be sure to follow me.

https://twitter.com/Altcoin_Gold/status/1617931191235252225?s=20&t=3EmBx854xvwxGYURQT_I9w