- Ora secures $20 million in funding from investors like Polychain, HF0, and Hashkey Capital.
- Funds will advance development of decentralized applications (dapps) integrating AI on Ethereum.
- Ora’s technology focuses on tokenizing AI models and ensuring trustless, decentralized application architecture.
- Optimistic Machine Learning (opML) is pivotal, offering secure on-chain machine learning with privacy features.
- Introduces “initial model offering” (IMO) to tokenize ownership of open-source AI models.
- Co-founder Kartin Wong emphasizes potential to expand design possibilities for AI dapps.
Main AI News:
Ora, a blockchain initiative integrating AI into decentralized applications (dapps), has announced raising $20 million in funding. Investors include Polychain, HF0, and Hashkey Capital, underscoring strong confidence in Ora’s vision.
This funding infusion will bolster Ora’s ongoing efforts to enhance its technology and infrastructure. The project aims to tokenize AI models and democratize decentralized AI within the Ethereum ecosystem, as stated in a recent press release.
Founded in 2022, Ora positions itself as a “verifiable oracle protocol,” empowering developers with tools to build trustless and decentralized applications leveraging AI. Central to its mission is Optimistic Machine Learning (opML), a pioneering technology powering its flagship product, opp/ai. This system utilizes optimistic systems and zero-knowledge technology to deliver secure, efficient on-chain machine learning with privacy-preserving capabilities.
Furthermore, Ora introduces “initial model offering” (IMO), enabling the tokenization of ownership for open-source AI models. According to Kartin Wong, co-founder of Ora, the project is poised to “unlock the design space for AI dapps,” marking a significant leap forward in blockchain-based AI innovation.
Conclusion:
The substantial funding secured by Ora highlights growing investor confidence in blockchain-based AI applications. This infusion will likely accelerate innovation in decentralized applications, particularly in integrating AI capabilities securely and transparently. Ora’s emphasis on tokenizing AI models and leveraging opML positions it at the forefront of blockchain technology, potentially reshaping how decentralized applications are developed and utilized in the market.
