OriginTrail and TRAC Token: Empowering Trust and Transparency in Supply Chains

Introduction

In a world where supply chains are becoming increasingly complex, OriginTrail is changing the industry by enabling trusted data sharing. In this article, I'll explore the fundamental analysis of OriginTrail, exploring the company, its team, and the utility of its token, TRAC.

OriginTrail: Empowering Data Sharing in Supply Chains

OriginTrail is a fully decentralised knowledge graph network that facilitates secure and trusted data sharing across supply chains. By leveraging blockchain technology, companies, organisations, and even other blockchains can exchange information seamlessly while ensuring data integrity and transparency. The platform achieves this through a combination of oracles and artificial intelligence agents that monitor and secure the data. This enables expiration of data and employs zero-knowledge methods to protect sensitive information.

The TRAC Token: Fuelling the OriginTrail Network

At the heart of the OriginTrail network lies the TRAC token, which plays a pivotal role in ensuring the network's integrity and incentivising its participants. TRAC serves as a staking token, enabling data immutability and ensuring the honesty of network nodes. Additionally, TRAC acts as a payment token, compensating nodes for their resources and time. With six different use cases, TRAC establishes the backbone of the OriginTrail ecosystem.

OriginTrail's Blockchain Ecosystem

OriginTrail is built on Ethereum, utilising its robust infrastructure to store cryptographic hashes created when data enters the network. However, to address the rising gas prices on the Ethereum network, OriginTrail is developing its own StarFleet chain, slated to launch in the second quarter of 2021. This new blockchain will enable more cost-effective transactions and enhance the utility of the TRAC token.

OriginTrail and Polkadot Parachains

In addition to Ethereum, OriginTrail is also planning to integrate with Polkadot parachains. Polkadot is a multi-chain network that allows for the secure and interoperable exchange of data and assets between different blockchains. This would allow OriginTrail to scale and become more decentralized, as it would no longer be reliant on a single blockchain. The integration with Polkadot parachains is still in the early stages, but it has the potential to be a major milestone for OriginTrail. It would allow the network to reach a wider audience and offer more robust features to its users.

OriginTrail Network Features

OriginTrail's decentralised network, the OriginTrail Decentralised Network (ODN), provides several key features that address common challenges faced by enterprises in the supply chain industry.

• Interoperability and Data Integrity: By adhering to globally recognised standards such as GS1 and W3C, OriginTrail promotes data interoperability, even across legacy systems and other blockchains. The protocol aligns data from multiple sources and verifies datasets through consensus checks and auditing mechanisms.
• Data Immutability: OriginTrail ensures data immutability by creating tamper-proof cryptographic hashes stored on the blockchain. This safeguards data from modification or tampering and enhances transparency within the supply chain.
• Stability and Cost Efficiency: The bulk of data processing occurs off-chain, improving the network's efficiency and reducing costs. OriginTrail's open-source nature allows for easy deployment and integration with existing legacy systems.
• Network Incentivization via Token Staking: TRAC token staking incentivizes network participants to provide data on demand and perform consensus checks. This system fosters trust among all parties involved in the network.

OriginTrail's Growing Adoption and Partnerships

OriginTrail actively collaborates with GS1, the bar code registration organisation, to develop the next-generation EPCIS/CBV 2.0 supply chain standard. This collaboration contributes to the protocol's adoption and demonstrates its commitment to industry standards.

Additionally, Trace Labs, the company behind OriginTrail, has formed strategic partnerships with established blockchain networks such as HyperLedger Fabric and plans to integrate with xDai and Polkadot in the future. These partnerships further solidify OriginTrail's position as a leading player in the supply chain industry.

The OriginTrail Team: A Strong Foundation

While not comprising industry titans, the OriginTrail team brings a wealth of experience and expertise to the project. Led by CEO Tomaz Levak, COO Ziga Drev, and CTO Branimir Rakić, the team has been dedicated to introducing blockchain solutions to supply chains since 2011. Their focus on adoption, integration, and partnerships has resulted in the successful growth of OriginTrail.

Oz and I were fortunate to gain valuable insights from Žiga Drev, Co-Founder of OriginTrail, and Martina Poberaj, Communications Manager at Trace Labs, during an interview on the Crypto Unplugged podcast in August 2021. Their knowledge and commitment to the project further demonstrate the passion behind OriginTrail's mission.

Conclusion: The Future of Transparent Supply Chains

OriginTrail is changing the supply chain industry by enabling trusted data sharing and enhancing transparency. With its robust protocol, partnerships with industry leaders, and the utility of the TRAC token, OriginTrail has positioned itself as a force to be reckoned with in the supply chain ecosystem. As the network expands and integrates with various blockchains, it is poised to transform the way businesses operate, driving efficiency and trust in supply chains worldwide.

I'm bullish on OriginTrail's future. The team has a strong track record, the protocol is well-designed, and the partnerships are promising. I believe that OriginTrail has the potential to become a major player in the supply chain industry, and I'm excited to see how the project develops in the years to come.

Disclaimer

Please note that the information presented in this review is for informational purposes only and should not be considered as investment advice. It is important to understand that cryptocurrency assets are known for their high market volatility, and engaging in buying, selling, or trading them involves substantial financial risks. It is recommended to exercise caution and conduct thorough research before making any investment decisions. The responsibility for any financial consequences resulting from your actions lies solely with you.

Do you own research.

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