CoinWorld Report:
Source: FutureMoney
The cryptocurrency market is never short of opportunities, but rather vision.
What does ORA, a recently popularized AI model tokenization platform, do? Why do major institutions favor it?
Working Principle of ORA
ORA is a verifiable oracle protocol that brings AI and complex computations onto the Ethereum blockchain. Its main products are on-chain AI oracles, currently supporting LlaMA 2 (7B) and Stable Diffusion models, with plans to support more machine learning models in the future. ORA breaks the limitations of smart contracts by providing AI reasoning, allowing developers to innovate freely. ORA’s two main products are on-chain AI Oracle (OAO) and Initial Model Offering (IMO).
On-chain OAO introduces verifiable AI reasoning to the blockchain, providing trustless and permissionless AI usage. This opens up various new application scenarios that were previously unachievable. The use of on-chain AI Oracle requires payment, and these fees are subsequently distributed to IMO token holders.
By tokenizing the ownership of open-source AI models, IMO incentivizes long-term and sustainable open-source contributions. It not only provides funding for AI development but also rewards the community and contributors. Token holders receive a portion of the income generated from the model’s usage on the model chain.
IMO and OAO together drive the forefront of open-source development.
Features and Advantages of OAO
Firstly, OAO is developer-friendly. Developers can enhance the AI capabilities of smart contracts using on-chain AI Oracle (OAO).
Key features of OAO include:
Integrated AI capabilities and automated infrastructure
Higher performance and shorter final confirmation time
Execution of arbitrary programs and large-scale machine learning models
Secondly, the ORA Oracle network consists of node operators running AI Oracle nodes, providing the following advantages:
Unstoppable autonomous protocols and networks
Optimal encryption-native decentralization
Verifiable, decentralized, and secure network
Security guarantee for the underlying layer
Efficient allocation of computing power
1-of-N trust model
Features and Advantages of IMO
IMO aims to drive AI towards sustainability, diversity, and openness for everyone.
By tokenizing AI models on the blockchain, IMO provides sustainable financial support for open-source AI models. It also promotes the distribution and continuous contribution of models by adjusting the ecosystem’s value and incentive mechanisms. Additionally, IMO allows anyone and communities to tokenize their AI models. This enables communities to effectively raise funds for the required resources of open-source projects while incentivizing contributors to continuously improve globally accessible AI models.
ORA’s Vision: Towards a World Supercomputer
ORA is dedicated to supporting Ethereum as a world computer and its ecosystem to advance the future development of DeFi, zkML, AI, and cryptocurrencies.
Comprehensive innovative foundation large models
ORA builds on-chain AI oracles through opML (Optimistic Machine Learning), achieving on-chain machine learning inference for any model. In addition, ORA has built Keras2Circom (the world’s first zkML framework) and invented opp/ai (the ultimate framework for on-chain AI, combining zkML and opML).
Foundation large models applicable to various developers
Developers can use ORA’s on-chain oracles to build any AI DApp driven by machine learning and secured by Ethereum. Specifically, developers can build ai/fi (AI + DeFi) applications based on AI models and AIGC NFT (ERC-7007 protocol) based on text-to-image models.
Some examples of ORA use cases include creating AIGC NFT using ERC-7007, facial recognition for zkKYC using machine learning, on-chain AI games (such as “Dungeons & Dragons”), market prediction using machine learning, content authenticity verification (deepfake verifier), compliant programmable privacy, market signals, and reputation/credit scoring. For more integration examples and creative building, please refer to awesome-ora.
ai/fi = AI + DeFi
ai/fi combines AI and DeFi, driving new developments in DeFi with the verifiable AI inference provided by ORA’s Onchain AI Oracle. This concept redefines fields such as AMM, lending protocols, aggregators, stablecoins, etc., by identifying computationally intensive parts in DeFi protocols and applying AI for transformation. ORA also provides zkOracle, which allows trustless access to AI data sources for any ai/fi project.
Funding and Team
ORA recently announced raising $20 million from investors such as Polychain Capital, HF0, Hashkey Capital, and SevenX. This funding will help ORA continue developing its technology and infrastructure, tokenizing AI models, and bringing decentralized AI into the Ethereum ecosystem, including Arbitrum, Optimism, Base, Linea, and other EVM-compatible chains.
Furthermore, ORA has a strong professional team background. Kartin Jiatian Wong has worked at major Web2 companies such as Google and Tiktok, with experience in Web3.0, cloud computing, and quantum computing applications. Cathie So is an Ethereum Foundation scientist, credited with the creation of the Erc-7641 and Erc-7007 protocols for IMO.
In the future, all AI models can be sold on-chain through ORA, and by 2023, $189 billion will be invested in AI companies. We can imagine that ORA will be behind a multi-billion-dollar sustainable market, adding broader tension and space to Crypto AI.
