Oraichain, a leading AI-powered oracle and blockchain ecosystem provider, today announced a major upgrade to version 2.0 of the Oraichain Mainnet, which includes Layer 2 Rollups to accelerate its AI Oracles and service execution subnetworks.
This major update to Oraichain Mainnet 2.0 opens the door to widespread AI use and compatibility with other blockchains. CosmosSDK-based networks improve interoperability through protocol propagation, bridges, and inter-block communication, as well as custom Layer 2 rollups that greatly increase scalability and standard infrastructure protocols that allow Dapps to be deployed on the Mainnet, enabling an AI Layer 1 for Dapps . In addition, Oraichain’s highly anticipated decentralized exchange, OraiDEX, is launching simultaneously as Mainnet 2.0.
Artificial intelligence and blockchain are being reinvented to make them compatible and understandable. On the road to becoming the first blockchain-based AI layer, the Oraichain team has launched Mainnet 2.0, which will serve as the foundation for the next generation of smart contracts and intelligent Dapps in areas such as DeFi 1.0 and 2.0, the metaverse, and web. 3.0.
dr. Chung Dao, CEO and founder of Oraichain said:
“We are captivated by the new benchmark Oraichain Mainnet 2.0 has set for a Layer 1 blockchain network. With the maturity of the necessary infrastructure, Oraichain becomes a complete AI cascading network expanding into a seamless multichain space. This major overhaul 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.”
This version features Layer 2 Rollups, which allow to separate Oraichain’s Mainnet from its subnetworks to increase their speed and scalability. By combining, compressing and processing transactions off-chain, rollups are a Layer 2 solution intended to reduce the load on the Mainnet. The processing results are then sent back to the chain as in-line proofs. Oracle networks and the VRF service remain on Layer 2 chains with Mainnet 2.0.
The Oraichain Mainnet 2.0 is expected to run 10,000 transactions per second, with a processing time of less than two seconds. In addition, this will allow Oraichain to process up to 100 Oracle services and faster sync times when additional validators and executors join the mainnet.
CosmWasm smart contracts power OraiDEX is committed to the original ORAI token of the Oraichain ecosystem and OW20 Mainnet tokens such as AIRI, KWT, etc. In addition, OraiDEX will be able to process EVM-based blockchain currencies through its OraiBridge and ATOM and other Cosmos tokens through its IBC integration.