OriginTrail

What is OriginTrail (TRAC)?

TRAC, also known as a trace token, is a OriginTrail utility token. This Web3 protocol which allows companies, organizations and blockchains share data securely. If you’re interested in current TRAC prices and other market statistics, check out the OriginTrail price chart above.

In other words, OriginTrail is a set of tools and protocols. It has a two-tier system that links blockchain technology with Layer 1 with Decentralized Knowledge Graph (DKG) technology on Layer 2.

The first level of the project is the consensus level of multiple OriginTrail chains. It consists of separate chains that provide reliable calculations, which is necessary for the decentralized functioning of DKG. OriginTrail can extend connected blockchains with token graphs and decentralized applications (dApps) while integrating all native assets from these blockchains.

The second layer is OriginTrail Decentralized Knowledge Network (DKG). It is an open source network that combines blockchain technology and knowledge graph technology. The OriginTrail node is the main division of DKG.

Knowledge graphs are essentially semantic networks. They link highly organized semantic elements into a single network of semantic data. Thanks to this, knowledge graphs enable advanced machine learning, data discovery, recommendations, and other data capabilities.

OriginTrail has four network objects in total:

• Data providers which, as the name suggests, transmits data to the network;
• Data Creator nodes are responsible for importing data provided by data providers and ensuring that it meets all necessary requirements;
• Data holder nodes that store data provided by data providers;
• Data Viewers who request data.

These organizations participate in one of the fundamental components of the OriginTrail network – the bidding mechanism. This allows network nodes to reach agreements and offer services to each other. How it works?

The data provider passes the tokens and data to the selected data creator node. The data creator then publishes a data storage request with the necessary terms of cooperation and sends the tokens to a smart contract with custom escrow functions.

Candidates for the data holder node position automatically respond to the smart contract. Then, simply put, the Data Creator node and the selected Data Holder nodes enter into agreements to operate and store that specific data.

Founders of OriginTrail

Žiga Drev, Tomaž Levak, And Branimir Rakic are the founders of the OriginTrail crypto project.

Žiga Drev has a university degree in business administration and international affairs and relations. In addition to founding OriginTrail, he also founded Trace Labs, the company behind OriginTrail.

Tomaž Levák also has a degree in International Relations and Human Resource Management. He also co-founded Trace Labs with Drev. In addition, he previously worked as a marketing consultant at KZ Šaleška Dolina and as an advisor to the organizing committee of the Kuwait Shooting Federation.

Branimir Rakic ​​is the third co-founder of Trace Labs. He has a higher education in electrical and computer engineering. Before joining the Trace Labs team, he was a developer and also a faculty member in the web department at SAE Institute.

The project was launched in June 2018. OriginTrail was initially priced at around $0.15. For the first two years on the market, the volatility of the asset remained low. In the second half of 2020, TRAC began to see increased market activity.

Overall, OriginTrail aims to follow broader trends in the cryptocurrency market. In 2021, TRAC’s price reached a high of $3.87. This happened in November, around the same time as Bitcoin (BTC) nearly topped $70,000 for the first time. OriginTrail was also impacted by the May-June 2022 cryptocurrency market crash.

Purpose of TRAC coins

TRAC is stored on Ethereum blockchain how ERK-20 token. Below are the main use cases for OriginTrail tokens:

• Network members using DKG network nodes can increase their bid online by locking TRAC as collateral;
• TRAC holders can distribute their tokens across nodes and receive a portion of their rewards in return;
• TRAC tokens are used for reward OriginTrail DKG node operators. This provides the data replication needed for asset discovery and the integrity of published data;
• TRAC tokens are required to store and read data on the OriginTrail network;
• Since TRAC is an ERC-20 token, it can be transferred and used in the same way as other ERC-20 tokens. This means that TRAC can be included in any smart contract mechanisms developed on the networks it is connected to.

If you are considering purchasing OriginTrail crypto assets, keep in mind that the price of TRAC is subject to fluctuations. This is due to the fact that TRAC is affected by the general fluctuations of the entire cryptocurrency market, just like the prices of other digital assets.

TRAC Tokenomics

OriginTrail coins are deflationary because they have a limited supply. The price of OriginTrail is expected to rise over time as supply dwindles. The maximum supply of TRAC is 500 million tokens.

In 2017 initial coin offering (ICO) took place, during which the price of TRAC was $0.10 per token. The sale was divided into three stages – whitelisting, pre-sale and mass sale.

Overall, 50% of OriginTrail tokens were spent on pre-sale and mass sales. The remaining 50% was dedicated to the future development of OriginTrail, liquidity pool, team, consultants, rewards, founders and pre-ICO participants.

If you’re interested in the current TRAC price, check out the OriginTrail price chart above.