OraiChain: A Decentralized Infrastructure for Machine Learning Applications

OraiChain: A Decentralized Infrastructure for Machine Learning Applications

OraiChain is a blockchain platform that provides a secure and decentralized infrastructure for the development and deployment of machine learning applications. The platform enables smart contracts to securely access external machine learning APIs and use machine learning models in their operations through oracles. OraiChain provides a marketplace for machine learning providers, a provider platform, and a staking and earning mechanism. The platform is designed to be highly scalable and performant, with cross-chain compatibility that enables it to serve data to most publicly available blockchains.

OraiChain's marketplace provides users with access to a wide range of machine learning providers at competitive prices. The platform's Data Hub is designed to empower the data economy by providing essential tools to work with and monetize data while preserving the royalties of creators throughout the future usage and resale of data. Additionally, OraiChain's new Marketplace is providing access to machine learning products and APIs, aiming to become the one-stop-shop for Artificial Intelligence services.

The platform also offers yield farming using machine learning services on OraiChain, enabling users to leverage AI-based strategies as inputs to smart contracts. OraiChain's flexible smart contracts using face authentication provide several scenarios where face authentication can be useful. Finally, OraiChain's aiRight is a complete copyright management and farming platform for NFTs that harnesses the power of OraiChain's Oracle to determine authenticity and point of origin for multimedia works minted on-chain.

Fake news detection is an interesting use case for leveraging machine learning providers from OraiChain's decentralized marketplace. The platform's marketplace allows for combining results from different providers, ensuring that APIs pass test cases to receive payments. This can help regular applications verify the trustworthiness of news sources and prevent the spread of fake news. Other use cases for smart contracts leveraging machine learning include checking if a product is fake in the supply chain, deciding a loan based on users' credit score, and automatically pricing game items based on their characteristics and DNA. Additionally, OraiChain's marketplace offers automated diagnostics for X-ray images, spam classification, handwriting detection using OCR, and citizen ID card detection using OCR, providing a wide range of AI-powered solutions for businesses and developers.

OraiChain supports regular centralized applications in using machine learning APIs on its decentralized marketplace, providing users with access to a wide range of machine learning providers at competitive prices. The platform is designed to be highly scalable and performant, with cross-chain compatibility that enables it to serve data to most publicly available blockchains.

There are three types of ORAI tokens, including ERC20 ORAI on the Ethereum network, BEP20 ORAI on the BNB Chain, and Native ORAI on the Oraichain Mainnet. The token distribution overview shows that as of August 2021, the ecosystem allocation is primarily used for block rewards, but can also be allocated for new liquidity pools and liquidity mining incentives. The DAO Treasury is expected to be used for community-led initiatives, including developer incentives programming, marketing actions, and educational content creation. The Foundation allocation is primarily used to support research and development for Oraichain's open-source core protocols, provide funding for Foundation hosted hackathons, and continue to support the community-inspired Foundation Delegation Campaign (FDC), providing delegations to support validators.
“ Token Distribution Overview
Summary of Circulating Supply (as of August 2023)

• Ecosystem: 5,538,595 ORAI
• DAO Treasury: 1,700,000 ORAI
• Foundation: 6,062,294 ORAI (3,229,850 ORAI delegated in FDC Program)

Total CS (8/2023): 15,078,971 ORAI - Real-time circulating supply
Total supply (8/2023): 16,779,272 ORAI - Real-time total supply
Max supply: 19,779,272 ORAI  “
Resource: https://docs.orai.io/readme/tokenomics

Regarding token utilities, native ORAI tokens are required to secure and power the decentralized Oracle network of validators. The token is used for transaction fees, staking for validators, and participation in network governance. The transaction fee is paid to request-executing validators, AI-API providers, and test-case providers. The transaction fee is different depending on the fee requirement of each provider and should be explicitly defined in MsgSetAIRequest of a request. Validators can earn extra ORAI tokens by executing test cases and data sources, and holders can stake their tokens to the Oraichain network to earn rewards.

There are two ways to mint ORAI tokens on the Oraichain Mainnet 2.0: through block rewards and by executing test cases and data sources. Validators are responsible for creating new blocks and are rewarded with ORAI tokens for doing so. Additionally, request-executing validators can earn extra ORAI tokens by executing test cases and data sources. Inflation, staking, and slashing are used to keep the value of the ORAI token and ensure the security of the network.


In conclusion, OraiChain is a powerful platform that brings together the worlds of blockchain and machine learning to provide a secure and decentralized infrastructure for the development and deployment of machine learning applications. With its marketplace, Data Hub, yield farming, and copyright management and farming platform, OraiChain is well-positioned to become a leader in the AI-powered blockchain space. Its decentralized marketplace offers a wide range of AI-powered solutions for businesses and developers, and its ORAI token is a key component of the platform's ecosystem, used for transaction fees, staking for validators, and participation in network governance.

Resources:
https://orai.io/
https://docs.orai.io/readme/introduction
https://www.youtube.com/@Oraichain