Ora, Aiming to ‘Unlock Design Space for AI Dapps,’ Raises $20M

As a researcher involved in this project, I’m thrilled to share that the recent influx of funds will enable us to progressively advance the technological and infrastructural aspects of tokenizing AI models and introducing decentralized AI to the Ethereum network.

Ora, established in 2022, identifies itself as a “reliable data provider protocol.” It offers developers the necessary resources to create trustless and decentralized applications that utilize AI, according to its project documentation. An oracle serves the role of supplying authentic real-world information, such as prices, temperatures, and other data, to a blockchain network.

As a researcher examining the latest developments in artificial intelligence, I’ve come across an intriguing technology called opML by opp/ai. Based on the press release, this foundational mechanism is designed to deliver secure and efficient on-chain machine learning with privacy-preserving features. It achieves this through optimistic systems and zero-knowledge technology. In simpler terms, it means that the machine learning model remains optimistic even when dealing with uncertain data, while keeping the data private by not sharing any sensitive information.

As an analyst, I would explain that Ora provides an “Initial Model Offering” (IMO) in their own terminology. This means that the ownership of certain open-source AI models can be represented as digital tokens.

As a crypto investor, I’d interpret Kartin Wong’s statement from Ora’s project update as follows: I believe this initiative holds the key to unleashing the creative potential of AI applications in the realm of dapps.