About OriginTrail

OriginTrail Review: Mining Guide, Price & amp; Analysis of the OriginTrail Cryptocurrency

OriginTrail is a blockchain that focuses on powering supply chains. The goal of the project is to make supply chains to work together. It seeks to promote interoperability of legacy systems, rather than replacing them.

This blockchain enables trusted data sharing among organizations. Currently, there is a lack of trust and interoperability between organizations. OroginTrail seeks to solve this. It provides an environment to share data in a decentralized manner. In this model, no one owns the data. Everyone can use it and obtain actionable solutions.

The biggest competitor to OriginTrail is the VeChain blockchain. Both of these projects operate in the same niche. However, VeChain is a more successful project. It already has great adoption and ranks high in market cap share.

However, both of them seek to improve service delivery. Additionally, OriginTrail has immutability and tamper-proof features. Businesses using it can easily manage and track operations on the network. Let's see how it works.

How OriginTrail Works

OriginTrail promotes interoperability and data sharing among organizations. Smart contracts facilitate this process. The key is to ensure there is data integrity. For this, the network employs globally recognized GS1 standards for data. This applies to master data, transaction data, and visibility data. Other data sets will include IoT and compliance data.

The GS1 standards help the network transform data in a unified way. Hence, the data is usable by any user no matter the system they are using. This promotes fairness in this environment. This is because each user can take full advantage of the data.

Additionally, the network helps nodes reach consensus. It does this by performing cross-reference checks every time a new data set enters the network. This ensures consistency across the chain concerning a particular product. In case of any inconsistencies, the network can automatically settle the discrepancies.

Further, the network has a zero-knowledge design. This ensures that the network can present data while maintaining privacy standards. Zero-knowledge helps build trust among organizations. They can share information without disclosing critical information like the customer base.

OriginTrail also has great scalability. This ensures that it is usable in real-world situations.

Can Investors Mine Trac Tokens?

It is not possible to mine on this blockchain. This is because the network does not run a consensus that supports mining. In fact, the network does not have an internal consensus mechanism.

It relies on the consensus mechanism of the parent blockchain. The Ethereum blockchain is the blockchain that hosts OriginTrail. Therefore, this network depends on Ethereum’s Proof of Work consensus for security.

The Proof of Work is a very secure mining consensus. However, it is vulnerable to 51% attacks and double spending. Additionally, it is susceptible to Sybil attacks. However, Ethereum continues to prove to be a very secure network.

The other problem with Proof of Work consensus is the energy it consumes. This high energy required greatly limits the efficiency of blockchains. That is why Ethereum 2.0 will run on the Proof of Stake consensus. It will bring better security and better efficiency.

The People behind OriginTrail

This blockchain project has a great team of developers behind it. The founders of this blockchain are three experienced developers. These include Tomaz Levak, Ziga Drev, and Branimir Rakic.

Together, these three form the steering committee of the network.

Tomaz is a serial entrepreneur with a mission of creating transparent solutions in the supply chain. He serves as the Managing Director of Trace Labs. Before OriginTrail, Tomaz managed tech projects in Europe and the Middle East.

Ziga also serves as a Managing Director of Trace Labs. He is responsible for building relationships with industry stakeholders. Previously, he led some impressive projects in the Asian market. Additionally, he has a great educational background. He holds an MBA from the University of Ljubljana.

The final founder, Branimir, serves as the CTO of Trace Labs. He led successful implementations with the systems of partner companies. He is a holder of a Master’s of Science in Electrical and Computer Engineering.

Trac Token Statistics

The total supply of Trac tokens stands at 500,000,000 Trac tokens. Out of those, 339,849,093 tokens are in circulation. This is very encouraging. Moreover, this cryptocurrency has a market cap of $60,252,921. This places the cryptocurrency at the 165th rank in market cap share.

The liquidity of this crypto is not very good. However, it shows the potential for growth. The 24-hour trading volume for this coin currently stands at $1,064,998. This value shows a 73.42% rise.

Privacy and Security

The OriginTrail blockchain takes privacy very seriously. It does not disclose the critical data of organizations. It has a zero knowledge design that helps hide some information from organizations. This greatly helps build trust between participating parties.

Moreover, the network applies cryptography and encryption. This ensures that the network maintains censorship resistance. The smart contracts facilitate transactions even without having full data.

This blockchain also has excellent security features. It stores data in a distributed format. Therefore, there is no central database to attack. Moreover, the distributed nodes contribute computing power to help secure the network. Thus, an attacker would require too much power to break into the network.

Further, the network runs in the Ethereum blockchain. This is one of the most secure blockchains that exist. It uses the Proof of Work consensus to validate transactions. Then, it records transactions on the public blockchain in an immutable state.

Our Take on OriginTrail

This blockchain project offers a great value proposition to organizations. It comes with great benefits to both businesses and their customers. By powering interoperability, it greatly improves service delivery. Further, it creates a decentralized data center. All participating parties can use data to produce actionable deductions.

However, this network has competitors. The VeChain is better-established and has better-adoption. OriginTrail still has a lot to do to convince organizations to onboard the network. In any case, the advantages outweigh the disadvantages. This blockchain has great benefits and great potential.

Advantages

• This blockchain provides a decentralized data center.
• OriginTrail has fast transactions and is highly scalable.
• It is very secure and reliable.
• OriginTrail has great privacy features.

Disadvantage

• Stiff competition from the better-established VeChain.

How to Buy and Store Trac Tokens

If you like what this blockchain has to offer, then you can purchase its cryptocurrency. Luckily, various exchanges support the trading of Trac tokens. These include Poloniex, HitBTC, Bittrex, and KuCoin. The price of one Trac token stands at $0.1847 at the time of writing this.

Additionally, it is easy to store this cryptocurrency. This is because it is an ERC-20 token. Therefore, you can use any wallet that supports Ethereum tokens. These include ledger, Trezor, MetaMask, and MyEtherWallet.

Final Verdict

This blockchain project is very appealing. It allows enterprises to integrate their functionality into their existing technology. It does not seek to replace existing technology. Additionally, it improves interoperability between organizations. The smart contracts and zero-knowledge feature ensure users can trust each other.

However, as an investment, the Trac token is a gamble. It could take either direction in the market. It is impossible to tell whether its value will rise or fall in the markets.