OriginTrail: The New Groundbreaking Decentralized Network

The blockchain network has continued to grow by the day.

Developers of blockchain apps keep looking for ways to build smart technologies and provide scalable apps across the blockchain platform.
One of those advanced apps is OriginTrail.

OriginTrail is an open-source and decentralized blockchain app that allows the connection of different protocols.

OriginTrail allows you to inter-operate multiple nodes on a single interface.

The token for OriginTrail is TRAC.

Since the launch of this app, it has continued to partner with government agencies and organizations.

Notable among the institutions in partnership with OriginTrail is the British Standards Institution and EVRYTHNG.

Recently, blockchain developers are breaking new ground by developing platforms that allow the connection and interoperability of multiple digital assets.

These apps allow seamless transfer and exchange of data across several platforms.

One of those blockchain platforms is OriginTrail. Let's take a look at what an OriginTrail entails and its functions.

What Is OriginTrail?

OriginTrail is an open-source blockchain app that enables data sharing among several platforms and organizations.

OriginTrail uses decentralized nodes coupled with an off-chain technology stack to interface with other blockchain platforms.

OriginTrail network is powered by Trace cryptocurrency. The symbol for Trace is (TRAC).

OriginTrail (TRAC) is an ERC20 Ethereum based cryptographic coin. The protocol enables complete decentralization.

Blockchain developers and experts opine that OriginTrail operates like an ecosystem due to its token economy. The token economy has a shared relation between users and network nodes in this blockchain platform.

OriginTrail has its protocol based on neutral web3 that allows safe and fast data sharing. The data sharing between companies and blockchain platforms is monitored by Artificial Intelligence (AI) and Oracles.

OriginTrail (TRAC) has been running since 2018 and consists of four professionals making up the core team. They are Žiga Drev, Tomaž Levak, Branimir Rakić, and Jurij Škornik.

These four individuals are professionals in the supply chain, blockchain, and management.

Notable organizations and government agencies that use OriginTrail include Walmart, Home Depot, Target, the US Department of Homeland security, and many others. These organizations use TRAC for factory audit verification.

Why Do We Consider OriginTrail As A Groundbreaking Decentralized Network?

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Let's consider why OriginTrail is viewed as a groundbreaking decentralized network.

One distinct attribute of OriginTrail is that the developers created a decentralized protocol that enables you to share supply chain data. This attribute is unprecedented among blockchain apps.

In addition, experts believe that OriginTrail is an ecosystem technology that uses a decentralized knowledge graph (DKG). This decentralized knowledge graph makes global supply chain data (based on the blockchain) more transparent.

With OriginTrail, IT providers can easily set up blockchain-supported data-sharing supply chains. This blockchain platform supports data of various formats, including documents and certificates.

Experts Predictions About OriginTrail (TRAC)

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The crypto market is based on several external forces, and one of them is predictions by industry players.

An Algorithm based company wallet investor predicted that by 2022, a unit of TRAC could reach $1.858, and by 2027, it is expected to have reached $5.170.

Another industry player, DigitalCoinPrice, predicted that OriginTrail would be worth $0.4239 by the end of 2022, and by 2029, it should have risen to $1.22 per token.

While these are just predictions, it should be noted that they go a long way in the general market trend.

Since the crypto market is not under any regulation, the price and fall of the value of a token can follow the exact pattern predicted by experts.

In the crypto space, the partnership goes a long way in determining the future projection of a blockchain asset.

When you see big brands and multinational organizations going into partnership with a coin, it shows that such a coin is heading towards groundbreaking achievements.

At this point, we shall look at some of the partnerships between OriginTrail and multinational organizations.

OpenTrail Partnerships And Initiatives

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These are some of the partnerships they have:

The British Standards Institution & OriginTrail

In June 2020, The British Standards organization released a whitepaper titled "instruments of trust" to the public. The whitepaper explains how the SCAN initiative ( a BSI program) will deploy the OriginTrail Decentralised Network to monitor and audit the activities of companies servicing the significant brands in the United States.

The whitepaper includes a partnership that will ensure the use of OriginTrail to monitor factories in their trusted blockchain program. The SCAN initiative will have member organizations that include Walmart, Lowes, Walt Disney, Home Depot, and Target.

The White paper also indicates that the British Standards Institution has started and will continue to train 200,000 students per year. The training will focus on business improvements and environmental management.

At the end of the training, the trainees will be issued certificates verified using the OriginTrail Decentralized Network (ODN).

EVRYTHNG & OriginTrail

Since May 2018, EVRYTHNG and OriginTrail have sealed a partnership, and in 2019, the partnership was taken to a top-notch.

The partnership between OriginTrail and EVRYTHNG birthed an Internet of Things (IoT) and provenance-connected stuffed animals while the GS1 Global Forum conference was approaching. It was named “ Barry the Bear.”

“Barry the Bear '' is an intelligent bear created for the GS1 global forum to illustrate that the EVRYTHNG supply chain could pass through a tamper-proof bridge.

The partnership saw the creation of a connector in the form of a reactor _script_ that allows you to verify OriginTrail transactions on the EVRYTHNG dashboard.

In 2020, EVRYTHNG streamlined its blockchain integration hub and made OriginTrail an essential partner for its blockchain connectivity.

Conclusion

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Since the launch of OriginTrail in 2018, experts have continued to project it as a groundbreaking decentralized network. This projection is a result of its uniqueness and its interoperability features.

Over the years, OriginTrail has partnered with government agencies, multinationals, and corporate bodies, including the European Union, Appspro, OneAgrix (Singapore), OBE Organics (Australia), and others.



Author: Valentine A., Gate.io Researcher
This article represents only the researcher's views and does not constitute any investment suggestions.
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