Trace Token

What is TRAC and how Does It Work?

OriginTrail's native token, TRAC, serves various functions within the ecosystem including staking, governance, and service access. This token plays a significant role in Project Magnify and proves its relevance with Metaverse gaming integration. Also worthy of mention is its integration with Google Vertex AI, contributing to cohesion in processes within the OriginTrail landscape. A draft WG paper delivered by OriginTrail for internal evaluation marks an essential phase of the Turing project. The project's Whitepaper 1.0 presents a detailed overview of TRAC's technical aspects and usage. We can also acknowledge the introduction of the ChatDKGai framework repository demonstrating an effort to encourage DKG users on OriginTrail's Parachain, aiming for unified periods of convergence.

The Vision and Mission Behind TRAC

The TRAC token is brought forward by OriginTrail, aiming at the Convergence stage. This stage makes use of advanced artificial intelligence (AI) and Decentralized Knowledge Graph (DKG) abilities for autonomous knowledge mining and exploration of untapped spheres of knowledge. OriginTrail's fundamental framework is built to operate numerous blockchain platforms, such as the OriginTrail Parachain on Polkadot. This adaptability aids its assimilation within the Polkadot ecosystem. During its inception, OriginTrail envisions the realization of an immense number of knowledge assets pertaining to wearable technology.

The core of the TRAC venture is to allow seamless transfer of veritable knowledge assets in the era of Web3. Various tools, structures, and programs are made available for developers and system integrators engaged in the initiative. In conjunction with this, a staking phase has been established which incorporates numerous TRAC tokens. Through strong efforts, OriginTrail focuses on crafting blockchain protocols particularly for supply chains while advocating advancements in reliable virtual workspaces, placing a significant emphasis on the impending digital future. Enabling anyone's engagement, the project is open-source and permissionless on GitHub, allowing access, application, and contribution to its progression.

A blockchain network called Decentralized Knowledge Mining has been established as part of the project aiming to fulfill stated objectives. TRAC strongly endorses trust in AI solutions, follows prevalent governance structures, and advocates the integration of globally accepted standards for blockchain-based solutions. Furthering the initiatives, the project's compatibility with the OTP token essentially assists in fostering responsible AI. In addition, the contributions from the Decentralized Knowledge Graph hold significant importance. Detailed insights regarding the project's inception and progression are available in a scientific paper named "Technology Landscape".

How to Buy and Store TRAC?

To purchase TRAC, Flooz.xyz offers a streamlined process for traders. Flooz.xyz provides a one-stop solution to buy TRAC, using a smooth checkout, without the need to own a wallet. Tap tap go! All payment methods are supported. Using Flooz self-custodial web wallet, you ensure seamless TRAC transactions. This includes storing, sending, and receiving tokens. You can create a self-custodial wallet directly on Flooz using your email, Google, and Apple ID in a matter of seconds. This seamless and optimized trading experience has captivated over 85,000 active traders on Flooz.xyz. This also ensures that you have access over your funds at all times, thanks to the power of cryptography. Flooz.xyz aggregates more than 50+ providers to ensure you with the fastest and cheapest payment routes for your trades.

TRAC Metrics:

• Current price: $0.8272

• Market cap: $335.92 M

• All-time high: being indexed (being indexed)

• All-time low: being indexed (being indexed)

• Daily trading volume: $78.04 k

Key Technological Features of TRAC

OriginTrail's ecosystem utilizes AI-supported search solutions via its Decentralized Knowledge Graph (DKG), aimed at enhancing access to valuable knowledge assets and refining the performance of AI-facilitated search solutions. The system fosters community contributions to its technical growth through an open-source approach. The V2 unified framework takes OriginTrail a notch higher, enabling processing of bigger datasets, and managing supply chain aspects and features.

The OTP token is leveraged to reinforce TRAC's functions in the unique token utility consensus layer known as V6 DKG. OriginTrail aims to facilitate cross-functionality and maintains W3C compliance. The mechanism embraces AI native Knowledge Assets, supports vector natively, and integrates Graph ML. Privacy is prioritized using the zero-knowledge (zk) techniques built into the consensus check protection layer. The technical structure's core lies in standard graph logic, which enhances the reliability of dataset connectivity and decentralized identity verification.

Enhancements such as asynchronous backing and a simplified API are incorporated for data integration and app development assistance. OriginTrail encourages cross-chain detection within EVM and Substrate-based blockchains, whereas the DKG V6 extension allows connections to EVM blockchains and decentralized data storage libraries like IPFS and Filecoin. The project can fit into a range of scenarios, including adjustable data lifespan, changes in data volume, and a unique protection feature for nodes of 500K+ TRAC.

TRAC's reach is fairly extensive in the market, with a significant proportion of its circulating supply used. Additional TRAC features include AI semantic search, a Graph Neural Network mechanism, Neo4j compatibility, and an integration with typical data science languages for knowledge mining. TRAC functions through the OriginTrail DKG on networks such as Ethereum, Polygon, and Gnosis. OriginTrail's consensus layer expansion framework also accommodates other EVM-compatible blockchains.

How Secure is TRAC? Understanding Its Security Protocols

The functioning of the OriginTrail network relies on the deployment of TRAC tokens. Currently, large quantities of TRAC tokens are allocated for this purpose. It's important to note that the network utilizes TRAC as collateral to manage its operations. Node operators have Guidelines to stockpile significant quantities of TRAC tokens as collateral. In certain instances, this quantity might escalate. OriginTrail has brought in a mechanism to enhance its operational capability. TRAC ERC20 tokens are stored in an Ethereum Virtual Machine (EVM) compatible logistics system. There are options to manage massive volumes of TRAC tokens, with a significant portion of the circulating tokens being assigned for utility services. With regards to data management, OriginTrail has deployed a variety of mechanisms such as a fundamental tier of a privacy layer that involves zero knowledge and OpenPKG to blanket identifiable data. The GS1 method is leveraged to augment the system's data management strategies. In order to maintain and manage data effectively, preliminary management methods have been rolled out, together with the fundamental privacy layer that involves zero-knowledge. It is evident that OriginTrail's deployment of token-based technologies are meticulous.

What's Next for TRAC? Upcoming Developments and Roadmap Insights

The Metcalfe phase of OriginTrail's roadmap is centered around the expansion of the Verifiable Web via the incorporation of knowledge mining and signaling capabilities. The goal includes the construction of a Verifiable Web AI that potentially encompasses a vast number of Knowledge Assets. Distinct characteristics of the Surveyor release incorporate a new validation process for supply chain interactions and a remodelled bidding mechanism. The plan includes developments like Knowledge Contracts v1, an AI platform, OriginTrail's Parachain mainnet and a sizable Knowledge Asset centric Neuro network. OriginTrail aims to broaden token circulation in secondary markets. Project progression elements include Knowledge Asset deployment, GS1 import sync, and data pruning. Interaction with the Substrate Builders Program and the deployment of TRAC tokens on the Parachain align with future goals. The undertaking involves a compensation system for node services and work on a Governance framework is ongoing. The anticipation is multichain growth alongside the introduction of Knowledge Economy Tools. The sustained growth of NeuroWeb and the Data Marketplace is indicative of the project's direction. Achievements include the Starfleet Bounty compilation, beta testnet launch, and the Parachain platform. Regular updates, periodic Whitepaper releases, and partnering with Subscan for the Parachain Explorer helps maintain clarity. The project provides a masterclass for people interested in its Decentralized Knowledge Graph (DKG) with intentions to apply the DKG onto multiple blockchains. The recent acquisition of a parachain slot in a Polkadot Auction points positively towards OriginTrail's involvement in the token community.

Role of TRAC in the Current Cryptocurrency Landscape

OriginTrail, which launched TRAC, operates under the aegis of the non-profit Trace Alliance. This alliance serves as a platform for knowledge sharing and forging synergies in the design and implementation of the decentralized knowledge graph. The role of TRAC, crafted as a Layer2 token, is critical in facilitating activities within the decentralized knowledge graph. Multiple collaborations are underway between Trace Labs, the primary creators of OriginTrail, and a multitude of entities such as the British Standards Institution, SCAN, Polkadot, Parity, the World Federation of Hemophilia, and the EU Commission Generation Internet. Conditions for relocating job contracts from one data holder to another in case of node malfunction are in place to maintain activity continuity. The advent of MultiChain OriginTrail brings in the possibility of flexible operations across a myriad of networks. TRAC has additional utility in these networks. Through the lens of the end-user, the establishment of the Reliable Knowledge Foundation Education hub adds to the initiative. To extend its influence, Trace Alliance invited preliminary users from different organizations and firms based in the EU and China. The widespread acceptance of TRAC by various exchanges enhances its recognition globally.

The Team Behind TRAC: Who Are the Founders and Key Players?

The project of OriginTrail, conceived by Žiga Drev, Tomaž Levak, and Branimir Rakić, focuses on constructing an informative structure that utilizes AI to authenticate data sources and combat false information. Its efforts are concentrated on amalgamating digital twins and supply chain management within a metaverse framework, with the aim of constructing digital supply chain counterparts that traverse the network. Dr. Bob Metcalfe, identified for his influential roles in developing Ethernet and Metcalfe's law, is an integral part of the team. His involvement bolsters the creation of a decentralized knowledge graph that interlinks the constructs of blockchain and knowledge graph technologies. OriginTrail has further broadened its presence, establishing a Project Office in Shanghai and opening an outlet in Hong Kong to facilitate relationships in the Asian markets.

For its operation, OriginTrail has a Community Treasury pool. Significant output from the team includes the Trace Alliance Working Group AgriFood and crafting solutions in response to global health situations, both initiatives gaining recognition from global organizations. The Innovate UK project Trusted BYTES is in progress. The engagements with other organizations have extended to incorporate a cloud provider offering custodianship services.

The non-profit Trace Alliance community, consisting of over 150 participants interested in decentralized knowledge graph topics, supports OriginTrail. Project activities also include ChatDKG, a framework devised with AI for verifiable knowledge, and the Houston app which serves node operators. Further initiatives like the OriginTrail Builders Challenge and the co-founder’s stint at a global directorship indicates dedication towards developing and disseminating knowledge instruments. The project’s examination of generalizing graph logic to scrutinize pilot insights shows a commitment to enhancing project particulars.

Real-world Applications: How is TRAC Being Used Today?

Applications of OriginTrail have various use cases. OriginTrail is associated with several sectors, such as life sciences and healthcare. The primary goal of OriginTrail is the ongoing development of the OriginTrail Decentralized Knowledge Graph (DKG), a tool generated for comprehending and fixing errors in supply chain data. The DKG continually evolves to promote enhanced knowledge recognition, with a particular emphasis on elements like knowledge graph enhancement and AI performance. This approach has an open, unrestricted attitude, encouraging collective contributions to the ecosystem. In addition, OriginTrail collaborates with initiatives like NGI Atlantic and SAP, aiming to expand collective data spheres across the Atlantic. OriginTrail has a denied party screening tool and addresses energy usage in infrastructure. It is compatible with a variety of cloud platforms and introduces means for deploying decentralized knowledge graphs. The project undertakes ongoing efforts and builds tools to address sector-specific issues and technical needs. OriginTrail's OTP token is linked to network participation. Also, OriginTrail participates in ESG reporting and collaborates with GS1 and W3C for the introduction of new standards.