Oraichain Now on Commonwealth

Commonwealth Team

• 3 min read
Oraichain Now on Commonwealth

Commonwealth is excited to announce a new partnership with the world’s first AI Layer 1 for Data Economy and Oracle Services: Oraichain. Oraichain is working towards creating a complete AI ecosystem on blockchain while supporting a new generation of smart contracts and Dapps. We’re excited to see how they use our governance platform to grow their project.

Oraichain: AI Layer 1 for Data Economy & Oracle Services

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 the 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 with the main themes as follows:

  • AI Layer 1 with high interoperability
  • Scale-up with Layer 2 solution for Oraichain’s AI Oracles and protocols like fully on-chain VRF in a subnetwork via a customized Layer 2 Rollup
  • Verifiable and Trustless AI execution with “proof of correctness” and “proof of execution” for any AI computation
  • Decentralized Data and AI platforms for the Web 3.0 data economy & AI-based services, including DINO Center, Data Marketplace, AI Marketplace
  • Standardized protocols & tools with high applicability for developers like Cosmwasm IDE

To learn more about Oraichain, visit their website or check them out on Twitter, Telegram, Github, and Discord.

Commonwealth: An All-In-One Platform for Decentralized Communities

By offering an all-in-one governance solution, Commonwealth makes it so projects don’t need to be managed across multiple communities like Discord, Telegram, and other platforms. By joining Commonwealth, crypto projects are able to host their decentralized governance, community discussions, treasury management, and more all in one place. Since our inception over two years ago, we’ve become the governance tool and crypto-native community that many of the top DeFi projects use to discuss, vote on, and fund their initiatives.

By choosing to join Commonwealth, Oraichain’s community operations will be fundamentally improved. Our platform makes their governance process seamless by giving them more functionality on a streamlined system. Everything from discussions to crowdfunding to executing proposals can happen here: on Commonwealth.

Participate in the Oraichain Commonwealth Forum

The Oraichain platform on Commonwealth was built custom for their ecosystem and includes the following capabilities:

  • Crypto-Native Token Forum: The Oraichain community on Commonwealth comes with full forum capabilities including threaded discussions, upvotes, user profiles, and more.
  • On-Chain Governance: The Oraichain community is able to discuss, vote on, and execute governance proposals all on-chain and with complete transparency through their custom Commonwealth forum.

The Oraichain Commonwealth forum went live in August. Users are encouraged to create a discussion or proposal on their platform. The first thread is for an ongoing discussion introducing the Oraichain community to Commonwealth and its features, inviting users to make their own threads to discuss how to propel the expansion and presence of Oraichain. In this thread, a user wants to begin by suggesting an increase in their deposit fee from 10 Oraichain to 100 in order to encourage people to conduct due diligence before making proposals.

How to Get Started on Commonwealth & Join the Oraichain Community

Simply put, anyone with an account can join discussions by various methods, but you need to log into Commonwealth using your Keplr wallet. This is a secure connection that only allows for the purposes of voting on chain and does not grant access for the site to make any transaction on the wallet. Once you connect your wallet, you can add additional information to log in, such as GitHub or Discord, and Commonwealth will allow you to log in on-chain on mobile or pc without having to connect Keplr again.

DAOs: What Are They?

Blockchain technology is innovative and exciting; at its core lies a decentralized system that operates without a central authority. However, blockchain apps span way beyond finance, most recently being applied to decentralized governance and organizations.

DAO stands for decentralized autonomous organizations. They are emerging in blockchain to help fill the needs and essential functions to help organize and create efficiency within a decentralized community. They allow Blockchain communities to expand their presence and invite more community engagement and transparency.

In a DAO, decisions are made from the ground up, governed by a community organized around a specific set of rules all coded on the blockchain, and are thus 100% transparent and community-driven.

Very simply, DAOs are a modern version of online communities that happen to share one bank account, and where members vote to decide how funds are raised and distributed. In contrast, critical decisions of today’s financial institutions, like our banks, are made at the top of the hierarchy, often passing through several tiers of leadership before reaching our personal financial affairs.

The live forum can be found at https://commonwealth.im/oraichain