TRAC
OriginTrail
$0.2712
0.21%
OriginTrail
TRAC
$0.2712
0.21%
OriginTrail Price Converter
OriginTrail Information
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About OriginTrail
OriginTrail (TRAC) is the native token of the OriginTrail Decentralized Network (ODN), an ERC-20 token on the Ethereum blockchain. The platform, co-founded by Žiga Drev, Tomaž Levak, and Branimir Rakić, is designed to create a universal, collaborative, and trusted data exchange system. TRAC tokens are used for compensation to ODN nodes, staking to become a data holder node, bidding for data storage by nodes, and potentially for governance decisions.
Token: OriginTrail (TRAC) is the native utility token of the OriginTrail Decentralized Network (ODN). It's an ERC-20 token on the Ethereum blockchain. TRAC is primarily used as a means of compensation for ODN nodes, ensuring the integrity and availability of data on the network.
Platform/Project: OriginTrail is a decentralized, blockchain-agnostic platform designed to create a universal, collaborative, and trusted data exchange system. The primary goal is to ensure the interoperability, interconnectivity, and data integrity across multiple supply chain systems, allowing businesses to speak the same 'language' when it comes to data. OriginTrail utilizes a combination of blockchain technology, decentralized file systems, and graph databases to enable secure, trusted, and scalable data sharing.
TRAC tokens serve multiple purposes within the OriginTrail ecosystem:
- Compensation: Node runners are compensated in TRAC tokens for storing and sharing data, as well as for ensuring data integrity.
- Staking: To become a data holder node in the ODN, a certain amount of TRAC tokens need to be staked. This mechanism ensures the commitment and good behavior of nodes.
- Data Bids: Organizations or entities wanting to publish data on the ODN use TRAC tokens to bid for their data to be stored by nodes.
- Voting: TRAC can potentially be used in governance decisions, helping steer the future direction of the OriginTrail protocol.
OriginTrail was co-founded by Žiga Drev, Tomaž Levak, and Branimir Rakić. The trio embarked on the project with the goal of enhancing transparency and trust in supply chains using blockchain technology.
