TRAC: a Real World-oriented Blockchain
OriginTrail is a cutting-edge technology that has revolutionized the world of data management and blockchain integration. Let's explore the essence of OriginTrail and the pivotal role that TRAC tokens play within this ecosystem.
Introduction to OriginTrail
OriginTrail is an open protocol that leverages the synergy between blockchain technology and knowledge graphs. This powerful combination allows for the creation of a Decentralized Knowledge Graph (DKG), which transforms how data is managed, stored, and utilized. The DKG enables the development of AI-ready Knowledge Assets, facilitating trusted knowledge sharing across various sectors.
The OriginTrail protocol is designed to enhance transparency, trust, and efficiency in data exchange. It is particularly impactful in industries such as supply chain management and Artificial Intelligence (AI), where the provenance and verifiability of data are paramount. By integrating blockchain technology, OriginTrail ensures that data remains immutable and secure, fostering a more reliable digital ecosystem.
The Role of TRAC Tokens
TRAC is the utility token associated with OriginTrail, and it serves several essential functions within the network. TRAC tokens are crucial for ensuring the smooth operation of the Decentralized Knowledge Graph and enabling various applications that rely on trusted data.
Key Functions of TRAC Tokens
- Staking: TRAC tokens are used for staking by network participants. Staking helps secure the network and incentivizes nodes to maintain the integrity of the data.
- Publishing Knowledge Assets: Users pay with TRAC tokens to publish pieces of data, known as Knowledge Assets, on the DKG. This ensures that only valuable and relevant data is added to the network.
- Collateral for Nodes: Network nodes set collateral in TRAC tokens to participate in the DKG. This collateral acts as a security deposit, encouraging nodes to act honestly and reliably.
The versatility of TRAC tokens extends to several real-world applications, including the restructuring of global supply chains and combating misinformation. By facilitating Trusted AI applications, TRAC ensures the verifiability of data, making it a cornerstone of the OriginTrail ecosystem.
The integration of TRAC tokens within the OriginTrail protocol exemplifies the innovative approach to data management and blockchain technology. By understanding the role of TRAC tokens, one can appreciate the transformative potential of OriginTrail in creating a trusted and transparent digital landscape.
OriginTrail Technology and Innovation
OriginTrail is at the forefront of technological innovation, leveraging blockchain to create a more transparent and efficient data-sharing ecosystem. Two key components of OriginTrail's technology are the Decentralized Knowledge Graph and the NeuroWeb's integration with Polkadot.
Decentralized Knowledge Graph
The OriginTrail Decentralized Knowledge Graph (DKG) merges knowledge graph technology with blockchain to create a robust platform for trusted knowledge sharing. The DKG allows for the seamless integration of data from multiple sources, creating a universe of AI-ready Knowledge Assets. This innovative approach enables anyone to participate in trusted knowledge sharing, enhancing the reliability and utility of information.
Dr. Bob Metcalfe, the Internet pioneer and Ethernet creator, emphasizes that knowledge graphs significantly improve the fidelity of artificial intelligence. The DKG is an essential tool for finding truth in knowledge, making it particularly valuable in sectors that rely on accurate and trustworthy data.
Courtney Soulsby, Global Director of Healthcare at British Standards Institution, highlights the DKG's impact on the healthcare sector. It ensures visibility and trust in medicines, mitigates concerns around diversion, and provides proof of activities. This level of transparency and trust is crucial for maintaining the integrity of healthcare systems.
NeuroWeb and Polkadot Integration
The NeuroWeb is OriginTrail's innovation hub on Polkadot, designed to accelerate the adoption of the DKG across multiple blockchain ecosystems. Polkadot's interoperability allows OriginTrail to leverage network effects, enhancing the connectivity and value of data through Metcalfe's Law. According to Metcalfe's Law, the value of a network increases exponentially with its number of users. By integrating with Polkadot, OriginTrail aims to create an open, transparent network for data sharing, addressing trust concerns and maximizing the value of data.
The NeuroWeb facilitates the seamless integration of OriginTrail's technology with other blockchain networks, enhancing its scalability and reach. This cross-chain compatibility ensures that the DKG can be utilized in diverse applications, from supply chain solutions to trusted AI and data sharing.
By combining the Decentralized Knowledge Graph with the NeuroWeb on Polkadot, OriginTrail is poised to revolutionize the landscape of data sharing and connectivity.
Real-World Applications of TRAC
TRAC, the native token of the OriginTrail ecosystem, has made significant strides in various real-world applications. Its innovative approach is transforming industries by enhancing transparency, security, and efficiency. Here, we explore two key applications of TRAC: supply chain solutions and trusted AI and data sharing.
Supply Chain Solutions
OriginTrail's supply chain solution, powered by TRAC, is revolutionizing how businesses and consumers interact with products. Originally designed to integrate blockchain technology into supply chain logistics, it offers a trusted hub for sharing data, authenticating products, tracking items, and ensuring operational security. This technology is already in use in European supermarkets, reshaping the retail landscape.
The OriginTrail Decentralized Knowledge Graph (DKG) ecosystem is supported by TRAC and utilized by various entities, including the British Standard Institution (BSI), SCAN Association, and Swiss Federal Railways (SBB). These organizations leverage OriginTrail's technology to streamline their operations and enhance transparency.
Trusted AI and Data Sharing
TRAC also plays a crucial role in facilitating Trusted AI applications and data sharing. By leveraging the OriginTrail DKG, TRAC contributes to the restructuring of international trade and global supply chains. It ensures the provenance of information, which is essential for fighting misinformation and verifying press release information.
The OriginTrail DKG ecosystem, supported by TRAC, is already being utilized by various entities such as the World Federation of Hemophilia (WFH) and EU-funded SmartAgriHubs. These organizations use OriginTrail's technology to improve data sharing, enhance transparency, and ensure the reliability of information.
TRAC enables activities such as publishing and updating information (Knowledge Assets), enhancing keyword ranking, and earning rewards through staking or delegating TRAC to DKG nodes. This fosters the adoption and usage of OriginTrail DKG, making it a game-changer in the realm of Trusted AI and data sharing.
By exploring these real-world applications, it becomes evident how TRAC is transforming industries and driving innovation in supply chain solutions and trusted AI and data sharing.
OriginTrail Team and Development
Founders and Core Team
OriginTrail was co-founded by Žiga Drev, Tomaž Levak, and Branimir Rakić between 2017 and 2018. The founders aimed to create a platform enabling customers worldwide to manage data using blockchain and Decentralized Knowledge Graph (DKG) technologies. Their vision was to enhance transparency, trust, and efficiency in data management across various sectors.
The core team consists of experts dedicated to developing and expanding the OriginTrail ecosystem. Their combined expertise in blockchain technology, data science, and supply chain management has been instrumental in driving the project's success.
Trace Labs and ICO Success
Trace Labs is the core development company behind the OriginTrail open-source technology. Based in Hong Kong, Trace Labs oversees the ongoing development and innovation of the OriginTrail ecosystem. The company's commitment to advancing blockchain technology has been pivotal in realizing the project's goals.
In January 2018, Trace Labs launched an initial coin offering (ICO) to raise funds for the development of the platform. The ICO was a resounding success, raising $22.5 million within just 20 minutes. This funding allowed OriginTrail to accelerate its development and expand its reach.
Entities across various industries have utilized OriginTrail, including the British Standards Institution (BSI), Supplier Compliance Audit Network (SCAN), Swiss Federal Railways (SBB), World Federation of Hemophilia (WFH), and government projects within the European Union and the United Kingdom. These collaborations highlight the versatility and reliability of the OriginTrail ecosystem.
The successful ICO and the continued efforts of the founders and core team underscore OriginTrail's potential as a game-changing cryptocurrency in the blockchain space.
