Oraichain & Syscoin: Joining the Most Advanced AI Oracle Services and EVM
Oraichain, the world’s first AI Oracle and Ecosystem for blockchains, provides unique services including AI Price Feed, fully on-chain VRF, NFT copyright protection, and Royalty Protocol. Oraichain and Syscoin have joined forces in a strategic partnership. Oraichain will be integrating with Syscoin’s imminent NEVM (Network-Enhanced Virtual Machine), the modular smart contract platform that will feature ZK-Rollups. Bringing these two ecosystems together will create many unprecedented possibilities for Web 3.0, Metaverse, DeFi, and NFTs.
What are Oracles? Simply put, oracles are gateways between the data compiled from the real world and information saved on blockchains. Oracles gather trustful data and information which can’t be collected from the inside of a blockchain such as the price of a token, temperature, score of a game, or value of a stock. Then Oracles pass that information to the blockchain’s smart contracts in order to trigger an action (e.g., a sell/buy contract or payment contract, etc.). Oracles serve a critical role in giving smart contracts the capability to perform the services needed to achieve mass adoption whilst simultaneously appealing to many institutional and industrial sectors.
On the one hand, Oraichain has a unique approach to this oracle problem via its AI oracle mechanism with test cases and AI executors. On the other hand, Syscoin will only further secure the robustness of their imminent NEVM smart contract platform. This strategic partnership will help grow their two innovative ecosystems in unison towards an even greater end.
Jag Sidhu, Lead Core Developer of Syscoin & CTO of Blockchain Foundry Inc., had the following to say about the partnership:
“Oraichain building with ZK-Rollups will enable trustless oracle and seamless VRF systems. It will usher in a novel advancement in oracle systems for smart contracts and become the de facto solution for L2 across the vast EVM-sphere. We will leverage it within the Syscoin ecosystem extensively.”
Oraichain and Syscoin will exchange several primary technologies in this partnership, including but not limited to:
- Syscoin will use Oraichain’s AI Oracle services, which includes AI price feeds and other external Artificial Intelligence APIs. AI Oracles like AI price feeds are not only promising in detecting anomalies but also broaden the potential of future Dapps.
- Oraichain will bridge its fully on-chain VRF service for randomness generation and verification to the Syscoin network. Oraichain VRF is the world’s first fully on-chain VRF. These verifiable random numbers running on smart contracts provide the essential, tamper-proof security needed for the development of many functionalities in GameFi, Metaverse, Dapp projects, and beyond.
- Oraichain will provide NFT-related services such as NFT copyright protection and Royalty Protocol for the Syscoin platform.
- Oraichain will be launching their own L2 solution with ZK-Rollups atop the Syscoin Platform.
Syscoin is already combining the best of Bitcoin and Ethereum in one place, while Oraichain is also becoming a formidable AI ecosystem for blockchains in their own right. We believe this partnership is the beginning of a great relationship that will continue to flourish as Oraichain and Syscoin revolutionize the capabilities of Blockchain. Together, we are building the future, and we invite you to join us.
Syscoin is a decentralized and open-source project founded in 2014 whose imminent NEVM upgrade will combine the best of Bitcoin and Ethereum in a single coordinated platform.
Bitcoin's proven security and Ethereum's Turing-complete programmability elevated to true L2 scalability via ZK-Rollups taking place on a singular platform, Syscoin, will usher in the next step in the evolution of blockchain technology.
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Oraichain is the world’s first AI-powered oracle and ecosystem for blockchains. Beyond data oracles, Oraichain aims to become the first AI Layer 1 in Blockchain sphere with a complete AI ecosystem, serving as a foundational layer for the creation of a new generation of smart contracts and Dapps. With AI as the cornerstone, Oraichain has developed many essential and innovative products and services including AI price feeds, fully on-chain VRF, Data Hub, AI Marketplace with 100+ AI APIs, AI-based NFT generation and NFT copyright protection, Royalty Protocol, AI-powered Yield Aggregator Platform, and Cosmwasm IDE.
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Learn more about Syscoin NEVM
Some resources for you.
"Network-Enhanced Virtual Machine (NEVM) and Related Changes to the Syscoin platform
A boil-down of what NEVM is, and what it means for Syscoin and blockchain technology
"A Design for an Efficient Coordinated Financial Computing Platform"
An in-depth article providing a technical overview of the design and the philosophy behind Syscoin NEVM