- With an emphasis on oracle research and development and blockchain infrastructure development, ORA intends to use the funding to grow its ecosystem.
Oracle communication protocol A $20 million fundraising round led by Polychian, HF0, and Hashkey Capital has been closed by ORA. The protocol is developing an on-chain tokenization technology for artificial intelligence models.
An release on June 26 stated that the money will be utilized to expand ORA’s ecosystem, with an emphasis on oracle research and development as well as blockchain infrastructure development.
The protocol is developing optimistic machine learning, or opML, technology, which adds levels of traceability and verifiability to blockchain and enables AI model inference. Stated differently, each AI interaction—including the model utilized, the data inputs, and the results—is documented and verifiable.
Additionally, ORA is launching a brand-new process called initial model offering (IMO) that makes tokenization of AI models possible. The method, which is based on an ERC-20 token, gives token purchasers the right to own and split revenue produced by an AI model.
Every time an AI model is deployed onchain, a charge is incurred. This fee is then paid to IMO tokenholders via the ERC-7641 Intrinsic RevShare Token, an ERC-20 extension that the protocol developed.
In April, ORA made its onchain AI oracle available on the OP mainnet of Optmism. Its team claims that only its operational oracle can handle any size AI model efficiently.
The business released a statement stating that it will offer safe and effective onchain machine learning with privacy-preserving features using optimistic systems and zero-knowledge technologies.
According to a spokesman, developers are now investigating a number of applications utilizing ORA’s technology. Among the use cases are the immediate on-chain processing of insurance claims according to predetermined guidelines and the detection of anomalies that diverge from the norm. Additionally, by analyzing data to make unbiased judgments, AI oracles are being developed to help with settlements and dispute resolution.
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