OriginTrail

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is OriginTrail?

OriginTrail (TRAC) is a blockchain-based protocol designed for supply chain management. It enables seamless data sharing among stakeholders, ensuring the authenticity and quality of products, and compliance with regulations. The protocol is built on Ethereum and uses the TRAC token to incentivize accurate data provision and pay for services. OriginTrail aims to address fragmented supply chain data by creating a decentralized network for secure and transparent data sharing.

How is OriginTrail used?

OriginTrail (TRAC) is a blockchain-based protocol designed for supply chain management and data sharing. The TRAC token is the native cryptocurrency of the OriginTrail network and serves several purposes:

  1. Staking and Collateral: TRAC is used for staking and setting collateral on the Decentralized Knowledge Graph (DKG) network nodes, ensuring the integrity and security of the data shared on the network.

  2. Publishing and Updating Data: TRAC is used to pay for fees to publish and update Knowledge Assets, which are pieces of data stored on the network.

  3. Incentivizing Network Participation: TRAC incentivizes network participants to provide accurate and timely data about supply chain activities, ensuring the reliability and trustworthiness of the data shared.

  1. Data Storage and Services: TRAC is used to pay for data storage and other services on the network, making it a crucial component of the OriginTrail ecosystem.

  2. Improving Keyword Ranking: TRAC can be used to improve the keyword ranking for information stored on the network, enhancing discoverability and accessibility.

  3. Earning Rewards: Users can earn rewards by staking or delegating TRAC to DKG nodes, providing an additional incentive for participation in the network.

Overall, the TRAC token plays a central role in powering the OriginTrail ecosystem, ensuring the secure, transparent, and decentralized sharing of data across various industries.

How do I store OriginTrail?

To store OriginTrail (TRAC) tokens, you can use any EVM (Ethereum Virtual Machine) compatible wallet. Some popular options include:

  • MetaMask: A widely used browser extension wallet that supports TRAC tokens.
  • Hardware Wallets: Ledger and Trezor are secure hardware wallets that can store TRAC tokens.
  • MyEtherWallet: A web-based wallet that supports TRAC tokens and allows interaction with the OriginTrail network.

These wallets ensure the safe storage of your TRAC tokens and enable you to participate in the OriginTrail ecosystem.

How to buy OriginTrail?

To buy OriginTrail (TRAC) tokens, follow these steps:

  1. Create an Account: Sign up for a reliable centralized exchange like Coinbase, Uphold, or Binance. Verify your email address and identity by providing a valid ID and proof of address if required.

  2. Add a Payment Method: Connect a payment method such as a bank account, debit card, or wire transfer to your exchange account.

  3. Deposit Funds: Deposit the desired amount into your exchange account using your chosen payment method.

  1. Search for OriginTrail: On the exchange platform, search for OriginTrail (TRAC) and select it from the list of available assets.

  2. Enter the Amount: Enter the amount you want to spend in your local currency. The exchange will automatically convert this to the equivalent amount of TRAC tokens.

  3. Finalize the Purchase: Preview your purchase details and confirm the transaction. Once the order processes, you will receive your TRAC tokens.

Alternatively, you can also use decentralized exchanges (DEXs) like Uniswap. For this, you will need to:

  1. Download a Wallet: Download a crypto wallet like Trust Wallet or MetaMask that supports Ethereum.

  2. Buy ETH: Purchase Ethereum (ETH) on a centralized exchange like Binance and transfer it to your wallet.

  3. Connect to DEX: Connect your wallet to a DEX like Uniswap and swap your ETH for TRAC tokens.

  1. Store TRAC: Store your TRAC tokens in a wallet that supports ERC-20 tokens, such as Atomic Wallet or MetaMask.

Remember to always follow security best practices and be cautious of scams when buying and storing cryptocurrencies.

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History of OriginTrail

OriginTrail (TRAC) was founded in 2011 by Tomaž Levak, Žiga Drev, and Branimir Rakić. Initially, it was created as a traceability platform for food products, addressing trust and interoperability issues in food supply chains. The founders developed a decentralized solution utilizing blockchain technology, which was launched through an initial coin offering (ICO) in 2017, raising $22.5 million from investors.

Since its inception, OriginTrail has received public funding from the European Union’s Horizon 2020 program for various innovation experiments related to food safety, smart agriculture, and the circular economy. The project has also partnered with notable organizations such as GS1, Oracle, and Parity, the core Polkadot development team.

OriginTrail has won several awards, including the Food Safety Innovation Spark Award in 2017, the Open Data Incubator for Europe Winner in 2016, and the Food+City Challenge Prize Winner in 2017. The project has also been involved in the European Union’s Smart Villages Initiative, highlighting the potential of blockchain technology in agriculture.

Today, OriginTrail is a web3 infrastructure project combining a knowledge graph and blockchain technologies to create a neutral, inclusive ecosystem. The platform enables trusted data sharing among different supply chain stakeholders, ensuring transparency and compliance with regulations and standards.

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How OriginTrail works

OriginTrail (TRAC) is a blockchain-based platform designed to provide a decentralized and secure way to share data, ensuring data integrity and trust across various industries, particularly in supply chain management. Here's how it works:

Data Sharing and Integrity

OriginTrail enables data sharing in a neutral, decentralized, and open-source protocol. The network is comprised of nodes that hold and share data, ensuring that data is immutable and tamper-proof. This is achieved through the use of cryptographic hashes that are stored on the blockchain, allowing for the verification of data without modification.

Decentralized Knowledge Graph (DKG)

The DKG is a data layer built on the OriginTrail Parachain, which is a Layer 2 (L2) equivalent network. This layer allows for the creation of the world's first trustless graph database, enabling the tokenization of reliable and verifiable knowledge. The DKG is designed to be network-agnostic, meaning it can interact with multiple blockchain ecosystems, including Polkadot, Ethereum, and others.

OriginTrail Decentralized Network (ODN)

The ODN is a middle-layer protocol that connects the blockchain to off-chain data. It is flexible and can support interactions with various blockchain platforms. The ODN ensures that data is aligned efficiently, even when taken from multiple sources, including older legacy systems and newer blockchain systems. This alignment is done in accordance with global standards such as GS1 and W3C, promoting interoperability.

Node Roles and Incentives

Anyone can become a data creator node, which is responsible for validating the state of the network and transactions. These nodes are incentivized through passive rewards and are tasked with timely data delivery. When a user requests data, the network randomly selects a node to provide the data, and that node earns rewards for its actions.

TRAC Token

The TRAC token is an ERC-20 utility token used to power the entire OriginTrail ecosystem. It was pre-mined with a fixed supply of 500 million tokens and is non-inflationary. The token serves several functions, including:

  • Publishing and updating information: TRAC is used to incentivize the creation and sharing of knowledge assets.
  • Improving keyword ranking: TRAC can be used to enhance the visibility of knowledge assets.
  • Earning rewards: TRAC holders can stake or delegate their tokens to DKG nodes to earn rewards.
Multichain Approach

OriginTrail's multichain approach ensures that knowledge assets and their functionalities can be accessed across multiple blockchain ecosystems. This allows for greater flexibility and adoption across different platforms.

Security and Trust

The OriginTrail protocol incorporates various security measures, including zero-knowledge proofs to protect sensitive data and ensure data validity. Additionally, the use of AI and oracles helps monitor activities and maintain the integrity of the network.

Overall, OriginTrail (TRAC) provides a robust and decentralized platform for trusted data sharing, ensuring the integrity and security of data across various industries.

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OriginTrail's strengths

OriginTrail (TRAC) has several strengths that make it a notable project in the blockchain and supply chain management space:

  1. Data Integrity and Transparency: OriginTrail ensures data integrity by providing a secure, transparent, and decentralized manner of sharing data. This eliminates the need for third-party verification and ensures trust in the data shared.

  2. Supply Chain Efficiency: OriginTrail optimizes supply chain efficiency by streamlining data sharing and communication. This leads to faster and cheaper operations compared to traditional methods.

  3. Decentralized Knowledge Graph (DKG): The DKG is a key component of OriginTrail, allowing for the creation of a trustless graph database. This enables the tokenization of reliable and verifiable knowledge, making it a powerful tool for data management.

  1. Interoperability: OriginTrail's multi-chain system allows for interoperability between different blockchain networks, including Ethereum, Polygon, xDai, and Polkadot. This enables seamless data sharing and integration across various platforms.

  2. Privacy-by-Design: The platform incorporates privacy features such as zero-knowledge proofs and data expiration, ensuring that sensitive data remains protected.

  3. Staking and Incentives: The TRAC token incentivizes network participants through staking, which helps reduce the number of tokens in circulation and drives up demand and value. Staking also rewards users for their contributions to the network.

  1. Real-World Adoption: OriginTrail has already been adopted by major firms like Home Depot, Walmart, and Target, as well as the US Department of Homeland Security, demonstrating its practical applications and potential for widespread use.

These strengths position OriginTrail as a robust and versatile platform for managing data and supply chains in a secure, transparent, and efficient manner.

OriginTrail's risks

OriginTrail (TRAC) carries several risks associated with investing in crypto assets. These include:

  1. Volatility Risk and Liquidity Risk: TRAC's value can fluctuate significantly, and liquidity issues may make it difficult to buy or sell the token quickly enough to respond to market changes.

  2. Short History Risk: TRAC has a relatively short history, which can make it harder to predict its long-term performance.

  3. Demand Risk: The success of TRAC depends on its rate of adoption by users and partners. If adoption is slow, the token's value may suffer.

  1. Forking Risk: The possibility of a fork in the blockchain could impact the token's value and functionality.

  2. Code Defects: Bugs or security vulnerabilities in the code could compromise the integrity of the network and the token.

  3. Regulatory Risk: Changes in laws or regulations could negatively impact the use, transfer, or value of TRAC.

  1. Electronic Trading Risk: Technical issues or security breaches in electronic trading systems could affect TRAC's value.

  2. Cyber Security Risk: Hacking or other cyber attacks could compromise the security of the network and the token.

Additionally, TRAC has a high risk assessment due to its potential for manipulation by limited trading activity.

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Did OriginTrail raise funds?

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OriginTrail’s team

Here are the key team members behind OriginTrail (TRAC):

  • Žiga Drev: Co-founder of OriginTrail, involved in developing the platform since its inception in 2017-2018.
  • Tomaž Levak: Co-founder of OriginTrail, instrumental in creating the platform’s vision and architecture.
  • Branimir Rakić: Co-founder of OriginTrail, contributed to the development of the platform’s core technology.
  • Dr. Bob Metcalfe: Advisor to OriginTrail, renowned for inventing Ethernet and his work on Metcalfe’s Law, which is being applied to predict the value of linked data in the OriginTrail Knowledge Graph.
  • Dan Purtell: Advisor to OriginTrail, Group Director of Innovation at BSI, providing guidance on deploying the Decentralized Knowledge Graph in diverse industries.
  • Ken Lyon: Advisor to OriginTrail, Managing Director of Virtual Partners Ltd, with extensive experience in the transportation industry and supply chain logistics.
  • Greg Kidd: Advisor to OriginTrail, early investor in several notable companies, advocating for portable and user-owned identity credentials.
  • Aaron Bradley: Advisor to OriginTrail, Structured Content Architect at Telus, assisting in evangelizing the Decentralized Knowledge Graph to developer communities.
  • Cristina Ventura: Advisor to OriginTrail, focusing on blockchain, consumer tech, and sustainability, particularly in Asia.

These individuals have played significant roles in shaping OriginTrail’s vision, technology, and partnerships.

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