Article Summary, Automatically Generated By AI
About ORAO Network
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What is ORAO Network (ORAO)?
: A data-agnostic cross-chain oracle based on Polkadot (DOT) providing secure, high-speed, real-time scalable data for any blockchain. -
Key Features:
- Customizable and secure data streams at high speed
- Supports extended range of data formats
- Cross-chain interoperability with Polkadot
- Predefined data protocols
- Machine learning with TensorFlow
- Auction system and reputation
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Founders:
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Introducing ORAO Network: Empowering a Decentralized Future
Introducing ORAO Network (ORAO): A Revolutionary Blockchain Ecosystem
ORAO is a data-agnostic, cross-chain oracle anchored to Polkadot (DOT), boasting a platform that purportedly furnishes a vast array of secure, high-speed, and scalable real-time data, seamlessly accessible to any blockchain.
The ORAO Network is capable of delivering high-speed, customizable, and secure data streams. Through ORAO’s feeds, users can access a vast array of data, encompassing weather updates, e-sports, and other physical events. Furthermore, data providers are empowered to curate their own bespoke data streams. Notably, the ORAO Network boasts an expanded range of supported data formats, surpassing those of its predecessors.
The company itself, along with the principal solutions of the ORAO Network, debuted in the summer of 2020, introducing a suite of innovative features, including seamless cross-chain interoperability with Polkadot, predefined data protocols, machine learning capabilities powered by TensorFlow, and a robust auction system complemented by a reputation mechanism.
The Visionary Founders Behind the ORAO Network
Nikola Strahija, the visionary founder and CEO of ORAO Network, boasts an impressive track record. Notably, in 2015, he provided data to an esteemed roster of Fortune Top 20 companies. Furthermore, in 2017, he co-established a pioneering website dedicated to indexing cryptocurrencies.
Dr. Andrey Zienko, the company’s esteemed CTO, boasts an impressive academic pedigree, having earned a Ph.D. in physics from the prestigious Moscow State University. His professional trajectory has been marked by a focus on harnessing the power of big data and AI technologies to drive business intelligence.
Unveiling the Unparalleled Attributes of ORAO Network (ORAO)
One of the primary concerns with contemporary oracles, as identified by the ORAO team, is the limited scope of data ranges that can be accessed. Notably, these are largely confined to financial data, such as price flows.
ORAO has pioneered the introduction of predefined data protocols, thereby offering a versatile solution. The platform empowers data providers to select from a range of protocols, liberating them from the constraints of fixed protocols that only provide access to a single data product. Consequently, oracles are now capable of standardized support for a diverse array of information products, encompassing everything from weather data to the outcomes of specific football matches, flight bookings, and beyond.
ORAO facilitates seamless cross-chain data transfers between disparate blockchains, catering to the burgeoning demand for cross-network transactions. This surge in demand is largely attributed to the rapid growth of the decentralized finance (DeFi) ecosystem, which has been hindered by the limited scalability of Ethereum’s (ETH) blockchain. By leveraging the Polkadot platform, ORAO boasts superior performance capabilities compared to its Ethereum-based oracle counterparts.
Associated Resources:
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What Is the Circulating Supply of ORAO Network (ORAO) Coins?
The ORAO utility token serves as the linchpin of the platform’s cross-chain-driven network, facilitating seamless interactions between disparate blockchain ecosystems. To participate in data provision on a specific chain, stakeholders must stake tokens on that particular chain. For instance, if a data provider seeks to monetize the same dataset on both the Ethereum and EOS blockchains, they would need to stake tokens on both chains, thereby ensuring unhindered data liquidity across these distinct networks.
The ORAO tokens serve as the primary medium of exchange for data transactions, wherein a user must stake a predetermined quantity of tokens to qualify as a data provider or buyer.
The maximum supply of ORAO is capped at 1,000,000,000 tokens, with the total allocation distributed as follows: 20% reserved for the team, 34% allocated to the foundation, 10% assigned to advisors, 9% attributed to the seed sale, 10% designated for the private sale, and 16% reserved for the public sale.
The Security Framework of the ORAO Network: A Robust Defense Mechanism
Decentralized oracle networks, such as ORAO, establish economic incentives that motivate providers to furnish authentic data to smart contracts in a trustless, decentralized environment.
To safeguard the interests of consumers, the ORAO developers propose the creation of a neural network designed to identify and flag outdated or malicious data. This innovative system will perpetually monitor information flows, utilizing predictive analytics to assess the reliability of individual data providers.
Where to Acquire ORAO Network (ORAO) Tokens?
As of May 2021, ORAO trading has been successfully listed on the following esteemed exchanges:
- The esteemed Gate.io
- The innovative Uniswap (V2)
- The pioneering DODO
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