Oraichain, an AI-powered oracle and blockchain ecosystem, today said its Mainnet 2.0 upgrade is now live, including several enhancements made since the original Mainnet 1.0 network launched.
This milestone kicks off the rollout of new features including Layer 2 Rollups to accelerate its AI Oracles and service execution subnetworks. In addition, the release of Mainnet 2.0 coincides with the launch of Oraichain’s decentralized exchange, OraiDEX.
Mainnet 2.0 is a major upgrade of Oraichain network to get ready for mass adoption and interoperating with other chains in blockchain space. Some of the most important improvements it brings are higher interoperability through relaying protocols and bridges, as well as IBC within CosmosSDK-based networks. It also introduces customized Layer 2 Rollup for significant scalability.
The purpose of running subnetworks & Layer 2 rollups adaptations on Oraichain is to scale up the performance of Layer 1. This is essential for many Layer 1 networks including Ethereum, Binance Smart Chain, when the massive growth and popularity of Dapps has been soaring in the space.
“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,” said Dr. Chung Dao, Oraichain CEO and Founder.
Originally launched in 2020, Oraichain is a data oracle platform that combines artificial intelligence (AI) within a blockchain infrastructure to introduce breakthrough technologies. The project acts as a bridge that creates the framework for AI-powered smart contracts and Dapps in the future. Oraichain is backed by a team with an extensive background in computer science and blockchain technology.
Being an Oracle platform, Oraichain is able to handle a range of data validation tasks. This includes biometric authentication, automated trading based on price prediction and AI strategy, loans based on credit ratings, product comparison, in-game item valuation, and more.
With many more side chain and layer-2 chain integrations to follow suit in the near future, this interoperability solution bridges the integration gap that has long existed within the pioneer blockchains. Concretely, the mainnet 2.0 launch of Oraichain comes with both the user facing interface and the node software.