OriginTrail Price (TRAC)

What Is Origin Trail (TRAC)?

Origin Trail is a web3 infrastructure project combining a knowledge graph and blockchain technologies to create a neutral, inclusive ecosystem. The OriginTrail network is open source and permissionless, which increases transparency and security. One of the core features of OriginTrail is the multi-chain Decentralized Knowledge Graph (DKG) that runs on three blockchains: Ethereum, Polygon and Gnosis.

Additionally, the OriginTrail Parachain, a layer-one blockchain component built to work with the Polkadot relay chain, extends the DKG's capabilities. The ecosystem is designed to facilitate real-world adoption of web3 technologies, particularly in the supply chain sector. Its tokenomics design leverages network effects by seamlessly integrating both network layers and its innovative Uniform Asset Locators (UALs) for increased asset discoverability. Overall, OriginTrail aims to leverage partnerships and the interoperability capabilities of Polkadot to drive use cases in various industries, including DeFi, real-world asset collateralization, the metaverse, the Internet of Things (IoT), and more.

Who Are the Founders of Origin Trail?

OriginTrail was founded by Tomaž Levak (CEO), Žiga Drev (COO), and Branimir Rakić (CTO) as a traceability platform for food products. The founders realized there was a lack of trust and interoperability in the supply chain data, which led them to develop a decentralized solution based on blockchain technology. In 2017, they launched an initial coin offering (ICO), raising $22.5 million from investors. Since then, OriginTrail has also received public funding from the European Union’s Horizon 2020 program for participating in several innovation experiments related to food safety, smart agriculture, and circular economy.

What Makes Origin Trail Unique?

OriginTrail is unique by combining blockchain technology with knowledge graph technology to create a Decentralized Knowledge Graph (DKG) that enables trusted data exchange across different systems and organizations. The DKG connects semantic data entities into a network that can be searched, verified, and enriched by various applications and users. The DKG also leverages distributed ledger technology (DLT) to ensure data integrity, provenance, and immutability. It aims to enable four key features: interoperability, interconnectivity, integrity, and incentivization. OriginTrail’s protocol is blockchain-agnostic, meaning it can work with any blockchain platform that supports smart contracts.

OriginTrail’s DKG has been applied to various use cases that demonstrate its value and potential for different industries and domains. Some of these use cases include:

BSI and SCAN are utilizing the OriginTrail protocol to ensure the integrity of security audits for some of the largest US importers. The protocol helps verify the compliance of suppliers with labor standards and prevent fraud.

The Food Safety Market is harnessing the power of OriginTrail and Big Data to transform the European food certification market. The protocol enables transparent and traceable data sharing among food producers, certifiers, retailers, and consumers.

Church of Oak is using the OriginTrail Decentralized Knowledge Graph to ensure a fair trade of organic wine from Slovenia. The protocol provides end-to-end traceability of wine production from grape to bottle, as well as quality assurance and customer feedback.

OriginTrail is working with Polkadot to create a parachain that will enable OriginTrail’s Decentralized Knowledge Graph to interoperate with other blockchains and applications on the Polkadot network. A parachain is a specialized blockchain that connects to the Polkadot relay chain, providing security and consensus for all the connected parachains. OriginTrail’s parachain will allow OriginTrail to leverage Polkadot’s scalability, interoperability, and governance features without compromising its decentralization or integrity.

OriginTrail’s parachain will also introduce a new token called OriginTrail Parachain Token (OTP) that will be used for staking, governance, and paying fees on the parachain. OTP will be distributed through a genesis event that will involve locking up DOT or TRAC for a period of time in exchange for OTP. The genesis event will also help OriginTrail win a slot in the Polkadot auction that determines which projects can launch their parachains on the network.

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How Many Origin Trail (TRAC) Coins Are There in Circulation?

OriginTrail has two native tokens: TRAC and OTP. TRAC is the original token of OriginTrail that drives the creation of web3-grade assets living in the DKG. OTP is a new token that will be used as a gas and governance token of the OriginTrail Parachain.

TRAC has a fixed total supply of 500 million tokens, of which 365 million are currently in circulation. The token allocation is as follows: 35% (token sale); 20% (founders and team, vested over four years with a one-year cliff); 10% (advisors and early supporters, vested over two years with a six-month cliff); 15% (future development fund); 10% (ecosystem development fund, released gradually based on project milestones); 10% (legal entity reserve, locked until January 2025)

TRAC can be used as a payment method for data exchange services on the OriginTrail network. Users who want to publish or query data on the DKG need to pay TRAC to node runners who provide storage and computation resources. Node runners can also stake TRAC to increase their reputation and earn more rewards. Additionally, TRAC holders can participate in governance decisions through snapshot voting.

OTP will have an initial total supply of 500 million tokens, which will be distributed as follows: 50% (parachain lease offering (PLO)); 20% (ecosystem development fund); 15% (team members and contributors); 10% (investors); 5% (advisors).

The vesting schedule of OTP will depend on the type of allocation and will be disclosed in future announcements.

OTP will have several benefits such as: enabling faster transactions with lower fees compared to Ethereum; enhancing security through Polkadot’s shared security model; increasing interoperability with other parachains through Polkadot’s cross-chain communication protocol; supporting multi-chain identity management through Polkadot’s identity standard.

How Is the Origin Trail Network Secured?

OriginTrail uses a multi-chain approach to secure its protocol. It connects to several blockchains that host OriginTrail smart contracts, which are used to manage relations between the nodes and implement trustless protocols. It secures its data-sharing protocol by using several features, such as: Cryptographic proofs and signatures to ensure data integrity and authenticity; Zero-knowledge proofs to enable data privacy and selective disclosure; A decentralized network of nodes that store and verify data using incentives and reputation mechanisms; Multi-chain interoperability allows data exchange across different blockchains.

Where Can You Buy Origin Trail (TRAC)?

If you’d like to buy OriginTrail at the current rate, the top cryptocurrency exchanges for trading in OriginTrail include BitMart, KuCoin, Huobi, Coinbase Exchange, Uniswap (V3) and more.