The new move to launch its blockchain network, known as Oraichain Mainnet, complements Oraichain’s plans to expand its suite of AI-based products and services, including AI Marketplace, Data & Request Hub, Publisher Service, Training Service, and Dapp Hosting.

Dr. Chung Dao, CEO, Oraichain Pte. Ltd., said: “Blockchain technology can disrupt traditional sectors that have suffered from decades of inertia. But it needs a boost. We want to push the boundaries of innovation by being the first to combine artificial intelligence and blockchain to end the stalemate.” and create new paradigms of daily service interaction “.

According to Reportlinker, the global blockchain market size is expected to grow $ 3.0 billion in 2020 to $ 39.7 billion by 2025 with an average compound annual growth rate (CAGR) of 67.3%. Traditional blockchain oracles, however, have reached a bottleneck as they cannot access data and APIs in a scalable, interoperable, accurate and secure manner. Here AI can create added value.

Strengthen blockchain with AI

The introduction of AI into the blockchain arena offers exponential improvements in computing. By launching its blockchain network in partnership with its AI ecosystem, Oraichain provides the unique infrastructure for AI services and consensus mechanisms for blockchain services and AI training.

The special use of AI APIs also enables Oraichain to process and create data on the fly via virtual machines with intelligent contracts. This is an improvement over the main function of traditional blockchain oracles, which just connect real data to store it securely.

The introduction of AI enables blockchain platforms to be upgraded by improving data quality, reliability and security through improved test cases in the Oraichain network while avoiding intermediaries.

In this way, Oraichain can build trust and unlock unprecedented application capabilities, improve the blockchain and pave the way for a new generation of smart contracts and accelerate Web3, DeFi and enterprise development applications. Some examples of applications being developed by Oraichain are:

  • yAI.finance, the first use case of Oraichain, a platform in the decentralized finance sector with unique AI-based functions.
  • Oraichain AI Marketplace offers access to AI products and APIs to become the central point of contact for artificial intelligence services.
  • aiRight, a patent-pending AI-generated copyright system.

The key to growing the Oraichain network will be interoperability, a prominent feature of the Oraichain roadmap. Once developed, Oraichain will enable easy and scalable platform adoption through bridges to the most popular blockchain networks, allowing Oraichain to support more decentralized applications.

Oraichain has worked on real-world use cases with several industry leaders, including leading ones VietnamThe IT software company Rikkeisoft and KardiaChain, a public blockchain and AI Virtual Assistant development platform, Vaiot.

Case studies and more information on Oraichain’s unique partnerships and development projects can be found on the Oraichain website.

About Oraichain

Oraichain is an AI-powered Oracle and blockchain ecosystem. The Oraichain Data Oracle platform aggregates and connects APIs for artificial intelligence with smart contracts and regular applications. Founded by Dr. Chung DaoOraichain’s mission is to be the portal between AI and blockchain technologies to revolutionize the AI, DeFi and blockchain industries.

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SOURCE Oraichain