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What Is ORAO Network (ORAO)?
ORAO Network (ORAO) is a data-agnostic cross-chain oracle built on Polkadot (DOT). It aims to provide secure, high-speed, real-time scalable data for any blockchain. The platform offers customizable and secure data streams, allowing users to access various data feeds such as weather, e-sports, and physical events. Data providers can create their own custom data streams, and the network supports a wide range of data formats compared to traditional oracles. ORAO Network was launched in summer 2020 and includes features like cross-chain interoperability, predefined data protocols, machine learning with TensorFlow, and an auction system with reputation.
Who Are the Founders of ORAO Network?
The founder and CEO of ORAO Network is Nikola Strahija, who has a background in supplying data to Fortune Top 20 companies and co-founding a cryptocurrency indexing website. The CTO of the company is Dr. Andrey Zienko, who has expertise in business intelligence using big data and AI technologies.
What Makes ORAO Network (ORAO) Unique?
ORAO Network addresses the limitations of current oracles by introducing predefined data protocols. This allows data providers to choose between different protocols, enabling support for a wide range of information products beyond financial data. ORAO also supports cross-chain data transfers, making it suitable for the growing demand in the decentralized finance (DeFi) space. Built on the Polkadot platform, ORAO offers higher performance compared to Ethereum-based oracles.
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How Many ORAO Network (ORAO) Coins Are There in Circulation?
The ORAO utility token is an essential part of the platform's cross-chain-driven network. Data providers must hold tokens on the chain they wish to work on. For example, if they want to sell data on both Ethereum and EOS, they need tokens on both chains. ORAO tokens are used for data payment, and users need to stake tokens to become data providers or buyers. The maximum supply of ORAO is 1,000,000,000 tokens, allocated as follows: 20% to the team, 34% to the foundation, 10% to the advisors, 9% to the seed sale, 10% to the private sale, and 16% to the public sale.
How Is the ORAO Network Secured?
ORAO Network utilizes economic incentives to ensure the delivery of legitimate data to smart contracts in a decentralized manner. To protect consumers' interests, the developers propose implementing a neural network that detects outdated or malicious data. This network constantly monitors information flows and predicts the reliability of individual data providers.
Where Can You Buy ORAO Network (ORAO)?
As of May 2021, ORAO trading is available on the following exchanges: Gate.io, Uniswap (V2), and DODO. You can also refer to our detailed guide on how to buy Bitcoin and other cryptocurrencies.
Answers
What Is ORAO Network (ORAO)?
ORAO Network (ORAO) is a data-agnostic cross-chain oracle based on Polkadot (DOT). The platform aims to provide secure, high-speed, real-time scalable data for any blockchain.
ORAO Network enables the delivery of customizable and secure data streams at high speed. Users can access a wide range of data through ORAO's feeds, including weather, e-sports, and other physical events. Data providers have the flexibility to choose their own custom data streams. Compared to earlier types of oracles, ORAO Network supports an extended range of data formats.
The company and its principal solutions were launched in summer 2020. These solutions include cross-chain interoperability with Polkadot, predefined data protocols, machine learning with TensorFlow, and an auction system with reputation.
Who Are the Founders of ORAO Network?
Nikola Strahija is the founder and CEO of ORAO Network. In 2015, Strahija supplied data to Fortune Top 20 companies. In 2017, he co-founded a website for indexing cryptocurrencies.
Dr. Andrey Zienko is the CTO of the company. He holds a Ph.D. in physics from Moscow State University and has expertise in business intelligence using big data and AI technologies.
What Makes ORAO Network (ORAO) Unique?
ORAO Network addresses one of the main issues with current generation oracles, which is the limited range of data that can be sold. ORAO introduces predefined data protocols as a solution, allowing data providers to choose between different protocols instead of being restricted to fixed protocols. This enables oracles to support a standardized range of information products, from weather data to sports results to flight bookings, and more.
Additionally, ORAO supports cross-chain data transfers between blockchains. With the growing demand for cross-network transactions in the decentralized finance (DeFi) space and the scalability limitations of Ethereum's blockchain, ORAO's integration with the Polkadot platform offers higher performance compared to Ethereum-based oracles.