AI Tech

Oraichain Pte. Ltd. Launches Smart Contracts 2.0 New AI-powered Blockchain Network

Oraichain Pte. Ltd., a leading AI-powered oracle and blockchain ecosystem supplier, announced it is to expand into the AI services industry with a new, AI-backed blockchain network.

Expansion of the service is the new milestone on Oraichain's journey to becoming an advanced, full-serviced AI ecosystem. With the ability to custom create multiple applications and platforms based upon a transparent, trusted, and secured blockchain for several industry sectors.

This new move to launch the new blockchain network referred to as Oraichain Mainnet, adds to Oraichain's plan to expand its suite of AI-based products and services ecosystem, including a Publisher Service, AI Marketplace, Training Service, DATA & Request Hub, and Dapp Hosting.

Commenting on their new move, Dr. Chung Dao, CEO, Oraichain Pte. Ltd., said: "Blockchain technology can disrupt traditional sectors suffering decades of inertia. But it needs a boost. We want to push the limits of innovation by being the first to combine Artificial Intelligence and Blockchain to end the stalemate and create new paradigms in day-to-day service interaction".

As per Reportlinker, the global blockchain market size is anticipated to grow from $3.0B in 2020 to $39.7B by 2025, at a Compound Annual Growth Rate (CAGR) of 67.3%. However, traditional blockchain oracles have reached a blockage due to an incapability to access data and (Application Programming Interface) APIs in an interoperable, scalable, accurate, and secure manner - This is where AI is used to add value.

Boosting Blockchain with AI

Introducing AI to the Blockchain arena offers exponential developments in the data processing. By introducing its blockchain network in partnership with its AI ecosystem, Oraichain Pte. Ltd. delivers exclusive infrastructure for artificial intelligence services and consensus mechanisms for Blockchain services and AI training.
The distinctive use of AI APIs also lets Oraichain develop and create data on-the-fly via virtual machines on smart contracts, a step-up from the primary function of traditional Blockchain oracles that purely connect everyday data to store securely.

The introduction of artificial intelligence allows for the upgrade of blockchain platforms by improving data quality, reliability and security through enhanced test cases on the Oraichain network, avoiding mediators.

With this, Oraichain can increase trust and open up unique application functionalities, advancing blockchain and paving the way for a new generation of smart contracts and accelerating Web3, enterprise development applications, and DeFi. Some examples of applications being developed by Oraichain include:

• Oraichain artificial intelligence Marketplace, which will give access to AI products and APIs directing to develop the one-stop-shop for AI services.
• yAI.finance, the first use case of Oraichain, a platform in the decentralized finance space using exclusive AI-driven features.
• aiRight, a patent-pending artificial intelligence-generated copyright system.

The key to escalating the Oraichain network will be interoperability, a standout feature of Oraichain's roadmap. Once developed, Oraichain will let for easy and accessible platform approval through bridges to the most popular Blockchain networks, permitting Oraichain to support more decentralized applications.

Oraichain Pte. Ltd. has already worked with many industry leaders on everyday use cases, including leading AI virtual assistant development platform, Vaiot and Vietnam-based IT software firm, Rikkeisoft and KardiaChain, a public blockchain.

About Oraichain

Oraichain is an AI-Powered Oracle and Blockchain Ecosystem. Oraichain data oracle platform aggregates and connects Artificial Intelligence APIs to smart contracts and regular applications. Founded by Dr Chung Dao, Oraichain's mission is to be the portal between AI and blockchain technologies, aiming to revolutionize the AI, DeFi, and Blockchain industries.

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