Oraichain
Crypto Overview
Understanding Intended Utility
Oraichain positions itself as the world's first AI-powered oracle and ecosystem for blockchains. The platform aims to revolutionize smart contracts and decentralized applications by incorporating artificial intelligence capabilities. The ORAI token serves as the native currency for the Oraichain ecosystem, used for governance, staking, and paying for AI Oracle services.
Core Functions
The platform provides AI Oracle services, allowing smart contracts to leverage AI models securely. It includes an AI marketplace where developers can monetize their AI models, and users can access these services using ORAI tokens. The project also features Oraichain VRF (Verifiable Random Function) for generating verifiable random numbers and Oraiscan, a block explorer for the Oraichain network.
Actual Utility Assessment
The platform demonstrates active development and real-world adoption through partnerships with various blockchain projects. The GitHub repository shows consistent updates and improvements to the core infrastructure. The AI marketplace is operational, though with limited current usage. The team maintains regular development updates and technical documentation.
Token Distribution and Governance
The initial token distribution allocated 40% to ecosystem development, 25% to the team and advisors (with vesting periods), 20% to private sale, and 15% to public sale. The vesting schedule for team tokens extends over multiple years, indicating a long-term commitment to the project.
Technical Implementation
Oraichain implements a delegated Proof-of-Stake consensus mechanism that allows token holders to stake their ORAI and participate in network validation. The platform's AI Oracle system uses a decentralized network of validators to execute and verify AI model results, ensuring transparency and reliability.
Crypto Impact
To assign a comfort level investing in Oraichain from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Oraichain.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.