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OriginTrail
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OriginTrail
OriginTrail (TRAC) is a web3 infrastructure project combining a knowledge graph and blockchain technologies to create a neutral, inclusive ecosystem. OriginTrail (TRAC) is a cryptocurrency token that operates on the Ethereum platform. [1][2]
Overview
OriginTrail was founded by Tomaž Levak (CEO), Žiga Drev (COO), and Branimir Rakić (CTO) in September 2013 as a traceability platform for food products. The platform was created to address traceability issues in food supply chains, where lack of trust and interoperability was a major challenge. The founders developed a decentralized solution utilizing blockchain technology which was launched through an initial coin offering (ICO) in 2017 and raised $22.5 million from investors. [4]
OriginTrail has since received public funding from the European Union’s Horizon 2020 program, as a result of participating in several innovation experiments related to food safety, smart agriculture, and circular economy. [1][5]
At the core of the OriginTrail team is Trace Labs. Trace Labs aims to facilitate “cross-organizational data exchange in global supply chains and corporate environments”. Also, Trace Labs is responsible for the project’s open-source protocol and trusted network applications used in global supply chains to exchange inter-organizational data. Notable Trace Labs partnerships include global barcode registration body GS1, Oracle, and Parity, the core Polkadot development team. [5]
Technology
OriginTrail (TRAC) is a protocol for managing supply chains using blockchain technology. It addresses trust and transparency issues in global supply chain management. The platform allows multiple parties involved in complex supply chains to add data related to products and components at every stage of the supply chain. [6]
By verifying that specific conditions are met by participants at each step in the supply route, manufacturers, distributors, and consumers can benefit from an immutable record of real-world data stored on the blockchain. [6]
In addition, OriginTrail uses oracles and artificial intelligence (AI) to monitor the decentralized graph network securing the ecosystem. Partnerships also exist between international bodies, governments, corporations, small businesses, and independents. Together, these entities can search for and connect to a plethora of datasets via the blockchain. Data on the network removes the need for trust between entities while facilitating the sharing and creation of valuable data. [8]
Decentralized Knowledge Graph (DKG)
OriginTrail Decentralized Knowledge Graph (DKG) presents a global, open data structure comprised of interlinked knowledge assets. It is hosted on an open, permissionless OriginTrail Decentralized Network (ODN) which combines blockchain with knowledge graph technology. [9]
OriginTrail connects to multiple blockchains, such as Ethereum, Polkadot (via OriginTrail Parachain), Polygon, Gnosis, and more to come. It is fuelled by the TRAC token, which is used to manage relations between DKG network participants. Running an OriginTrail node also makes the user one of the contributors to hosting the DKG and enables eligibility for earning TRAC token rewards. [10]
OriginTrail Multi-chain Consensus Layer
The OriginTrail consensus layer is composed of blockchains that enable trusted computation necessary for the DKG to operate in a decentralized environment. Currently deployed on Ethereum, Gnosis chain, and Polygon, OriginTrail is a multi-chain system with the ability to integrate all assets native to the connected blockchains and extend them with asset graphs and smart contract-based applications such as data marketplaces. [9]
OriginTrail Parachain
The OriginTrail Parachain is a next-generation L1 blockchain designed to tightly integrate with the OriginTrail DKG. As an OriginTrail-tailored blockchain, it is optimized for maximum performance and usability in the OriginTrail consensus layer. It leverages the strong trust model and inherent interoperability of Polkadot, enabling smooth integration with other Polkadot ecosystem projects. [8]
The OTP token utility was designed to fuel the growth of the OriginTrail ecosystem by incentivizing the aforementioned network participants' contributions to the OriginTrail DKG. [8]
OriginTrail Tokens
OriginTrail Trace (TRAC) Token
The native TRAC token is an Ethereum ERC-20 utility token that powers the OriginTrail Decentralized Network (ODN). Also, TRAC is a pre-mined non-inflationary token. [3][7]
There is a maximum supply of 500 million TRAC tokens. Plus, all TRAC tokens in circulation were pre-mined during the initial coin offering (ICO) in January 2018. [3][5][12]
Token Allocation
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). [12]
Utility
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 Decentralized Knowledge Graph (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. [5][12]
OriginTrail Parachain (OTP) Token
OriginTrail Parachain also introduces a native OriginTrail Parachain token (OTP) - a utility asset that is not only used for blockchain gas fees and inclusive governance but also enables a way to incentivize the growth of DKG usage. [9]
OTP Allocation
The total supply of OTP that will ever be created is limited to 1,000,000,000 tokens. However, out of the maximum amount of tokens, only half is initially allocated, whilst the remaining half is minted through inflation in perpetuity, asymptotically reaching a 1,000,000,000 OTP maximum supply. [9]
The initial distribution is as follows; Kick-starting incentivization pools (45%), Initial auction distribution (25%), The treasury (25%), and OriginTrail community distribution (5%). [9]
Utility
The token is used as Fees for transactions and smart contracts, Incentives for collators, Collateral for collators, Delegating to collators, Voting for the OriginTrail Parachain network and Community treasury proposals, and as a fungible token. [9]
Trace Alliance & OriginTrail Partnerships
The Trace Alliance is a collaborative hub for the OriginTrail team, OriginTrail partnerships, and Trace Labs members. Bringing together enterprises, service providers, development communities, and research institutions, the Trace Alliance aims to create enterprise-scale blockchain-based solutions for supply chains. [6]
The Trace Alliance acts as a data marketplace for businesses that want to integrate the protocol into existing supply chain management systems. Plus, members of the Trace Alliance gain early access to developer tools and emerging technologies. The Trace Alliance is also responsible for a wide range of OriginTrail partnerships and it includes members from multiple sectors; healthcare, food and agriculture, fashion, manufacturing, etc. [7][6]
OriginTrail x Oracle
In December 2018, OriginTrail and Oracle entered into a technology partnership for an integration between the Oracle Blockchain Cloud Service and the OriginTrail network. The partnership spans across the region, as it involves several Oracle offices in Southeast Europe.[10]
Oracle Slovenia’s country manager, Rajko Novak, said:
“Oracle offers businesses an easy way to adopt blockchain and transform enterprises with the comprehensive and enterprise-grade blockchain platform. Integration with the OriginTrail network enables easier data sharing between companies along the supply chains, all based on distributed ledger technologies. Partnership with OriginTrail brings Oracle’s enterprise-grade technology closer to specific supply chain purposes. This enables to extract more value out of data being exchanged in the multi-organizational environment.”[11]
OriginTrail x Blockchain Wire
In September 2023, Blockchain Wire, a press release distribution service specializing in disseminating news related to blockchain and cryptocurrency endeavors, formed a strategic partnership with Trace Labs, core developers of OriginTrail, to create the first decentralized information hub for all press releases, corporate news, and filings. [12]
Through the strategic partnership, Blockchain Wire offers interactions with company data, news, and investor insights to the AI age. Through a question-answering chat interface, investors and analysts can access a wide range of data sources about a particular company or industry, resulting in a more personalized chatting experience. Each response is based on verifiable sources with associated identities of the issuer. It sets Blockchain Wire on the path of creating a global inclusive platform for gathering and accessing company data and investor insights. [12]
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