Oraichain, a leading AI-powered oracle, and blockchain ecosystem provider, announced today a significant upgrade to version 2.0 of the Oraichain Mainnet, which includes Layer 2 Rollups to speed up its AI Oracles and service execution subnetworks.
This big update to Oraichain Mainnet 2.0 opens the door to widespread AI use and compatibility with other blockchains. CosmosSDK-based networks improve interoperability through relaying protocols, bridges, and inter-block communication, as well as customized Layer 2 Rollups that significantly increase scalability and standard infrastructure protocols that enable Dapps to be adopted on the Mainnet, thereby creating an AI Layer 1 for Dapps. In addition, Oraichain’s long-awaited decentralized exchange, OraiDEX, will be launched simultaneously as Mainnet 2.0.
Artificial Intelligence and blockchain are being re-imagined to make them compatible and comprehensible. On its way to becoming the first blockchain-based AI layer one, the Oraichain team has launched Mainnet 2.0, which will serve as the basis 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, 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.”
This version features Layer 2 Rollups, which allow Oraichain’s Mainnet to be separated from its subnetworks to increase their speed and scalability. By combining transactions, compressing them, and processing them off-chain, rollups are a Layer 2 solution aimed to reduce the burden on the Mainnet. The processing results are then returned to the chain as proofs on-chain. Oracle networks and the VRF service will remain on Layer 2 chains with Mainnet 2.0.
There are expected to be 10,000 transactions per second on the Oraichain Mainnet 2.0, with under two seconds processing times. Additionally, this will make it possible for Oraichain to handle up to 100 oracle services and faster synchronization times when additional validators and executors join the mainnet.
CosmWasm smart contracts power OraiDEX is dedicated to the Oraichain ecosystem’s native ORAI token and OW20 Mainnet tokens like AIRI, KWT, etc. Additionally, OraiDEX will be able to handle EVM-based blockchain currencies through its OraiBridge and ATOM and other Cosmos tokens via its IBC integration.
