- The release of Mainnet 2.0 coincides with the launch of Oraichain’s long-awaited decentralized exchange, OraiDEX.
- Oraichain is putting efforts to revolutionize AI and blockchain to make the two technologies compatible and integrable.
Oraichain, a leading Artificial Intelligence (AI)-powered Oracle and blockchain ecosystem, announced a major upgrade of the Oraichain Mainnet to version 2.0. It includes various enhancements to the original Mainnet 1.0 network. With this, the company will roll out new features, including Layer 2 Rollups, to accelerate its AI Oracles and service execution subnetworks.
Mainnet 2.0 is a major upgrade of the Oraichain network to prepare for mass adoption of AI and interoperating with other chains in the blockchain space. The most important improvements it brings are higher interoperability through relaying protocols and bridges and inter-block communication within CosmosSDK-based networks. It will also introduce customized Layer 2 Rollups to significantly increase scalability and standardized infrastructure protocols to enable the adoption of DApps on the Mainnet – creating an AI layer one for DApps.
Additionally, the release of Mainnet 2.0 coincides with the launch of Oraichain’s long-awaited decentralized exchange, OraiDEX.
Being the world’s first AI-powered Oracle and ecosystem for blockchains, Oraichain is putting efforts to revolutionize AI and blockchain to make the two technologies compatible and integrable. With the launch of Mainnet 2.0, Oraichain aims to fulfil its mission to become the first AI Layer 1 in the blockchain space. It wants to present a complete AI ecosystem that will form the foundation for a new generation of smart contracts and intelligent dApps in areas such as DeFi 1.0 and 2.0, the Metaverse, and Web 3.0.
The launch of Mainnet 2.0, Oraichain subnetworks such as Oracle networks and the VRF service will hold on to the Layer 2 chains. This will also expand the capacity of the Oraichain Mainnet without impacting its core logic and security – similar to how Ethereum, Binance Smart Chain, and others have implemented Layer 2 when the massive growth and popularity of Dapps has been soaring in the space.
Oraichain Mainnet 2.0 is expected to support up to 10,000 transactions per second with less than two seconds of processing speed. This will power Oraichain to scale and support up to 100 oracle services and shorter synchronization times when new validators and executors first join the Mainnet.
The release of Mainnet 2.0 will introduce Layer 2 Rollups for the first time that would enable the separation of Oraichain’s Mainnet from its subnetworks to scale up the performance of both. Rollups are Layer 2 solutions that will help ease the strain on the Mainnet by bundling transactions together, compressing them, and processing them off-chain before returning the results as proofs on-chain.
Oraichain was established in 2020 as a data Oracle platform that integrates AI within a blockchain infrastructure to introduce breakthrough technologies. The project acts as a bridge that creates the future framework for AI-powered smart contracts and DApps. An expert team with computer science and blockchain technology knowledge handles the Oraichain.
As Oraichain is a company based on the Oracle platform, it can handle multiple data validation tasks. This includes biometric authentication, loans based on credit ratings, automated trading based on price prediction and AI strategy product comparison, in-game item valuation, etc.
This interoperability solution fills the integration gap that has long existed among the pioneer blockchains, with many more side chains and Layer 2 chain interfaces to follow suit soon. In particular, the Oraichain Mainnet 2.0 launch comes with both the user interface and the node software.
Dr. Chung Dao, Oraichain CEO and Founder said, “We are enthralled with the new benchmark Oraichain Mainnet 2.0 has set for a Layer 1 blockchain network. With the maturity of needed infrastructure, Oraichain is becoming a complete AI cascading network that expands on a seamless multichain space. This major revamp will bolster our core offerings and further define our ecosystem of AI, DeFi, and oracles, while accelerating the much-needed development of AI-powered smart contracts and Dapps.”