We found OriginTrail crypto to have increased by more than 130%, more than any other crypto in the Polkadot ecosystem project. It becomes very interesting, to explore more about OriginTrail crypto.
Listed on Polkaproject, OriginTrail crypto company that provides infrastructure and data development. It is a fully decentralized open source project as a graph solution. Allowing infinite scaling of data. It can be shared both publicly and privately, to be utilized for supply chain and digital twin identity solutions.
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Contents
- 1 OriginTrail explained
- 2 How does OriginTrail crypto work?
- 3 Founder OriginTrail
- 4 When OriginTrail launched?
- 5 OriginTrail token TRAC
- 6 How to buy OriginTrail
- 7 How to stake OriginTrail
- 8 Where to buy OriginTrail crypto?
- 9 Is TRAC a good investment?
- 10 TRAC Origintrail crypto price prediction
- 11 OriginTrail crypto future price
- 12 OriginTrail vs Vechain
- 13 Final Thought
OriginTrail explained
In the real world, the supply chain is only based on trust. For example when a company in Malaysia needs yarn for the raw material for the clothes it produces. He then contacted a supplier from Vietnam to complete the supply chain.
The Malaysian company believes that the Vietnamese company can fulfill the supply chain. However, sometimes the Vietnamese company needs raw materials from Filipino companies because of the lack of supply chains. So the Malaysian company does not know exactly the quality of the raw materials from the Philippines because of the lack of known data.
OriginTrail crypto offers a solution for data transparency, using the OriginTrail Decentralized Network (ODN). This is a project within the Polkadot ecosystem that provides a network that builds data infrastructure.
How does OriginTrail crypto work?
OriginTrail is here to provide a protocol solution to the problem of maintaining trust in all players involved in the supply chain. By bringing blockchain technology into the infrastructure OriginTrail can create immutable data on every item in the supply chain.
Therefore, every player in the supply chain can verify that the condition of the item meets the set standards. OriginTrail builds applications for data infrastructure, to collect data in the real world, and then store it on the blockchain.
Furthermore, OriginTrail has a tracking system known as GS1. It is a non-profit organization that provides standard practices for the way companies communicate with one another. The GS1 has a standard bar code that everyone can see on most products.
The company can print a bar code which can then be scanned by everyone so that the verification of the immutable data becomes a reference for the respective item.
Founder OriginTrail
OriginTrail is headquartered in the European Union focusing on the Blockchain industry, Information Services, Information Technology, and Supply Chain Management. Has a Trace Labs sub-organization, which has the support of Blockchers, with a total funding account of 3k euros.
OriginTrail was invented by Branimir Rakic, Tomaz Levak, and Ziga Drev. From Branimir Rakic’s profile on Linkedin, he comes from Serbia and is educated at the Faculty of Electrical Engineering, Telecom Dept., University of Belgrade.
Tomaz Levak as Founder and Managing Director at Trace Labs is from the United Kingdom and educated at the University of Ljubljana, Faculty of Social Sciences.
Meanwhile, Ziga Drev is also from the United Kingdom as Founder & Managing Director at Trace Labs, educated at the University of Ljubljana, Faculty of Economics.
When OriginTrail launched?
Referring to the OriginTrail roadmap, the team started developing the application in 2013 which is still an Alpha version for organic beef products. In 2014 it started with a beta version and is still tracking food in general. It was only in 2016 that Blockchain was introduced into the system.
For fundraising, they launched an ICO in 2018 and managed to raise US$22.5 million. In 2017 there has been progressing in cooperation with Chinese companies and also implementation with Ethereum test network.
OriginTrail token TRAC
The OriginTrail token called TRAC provides several utilities within the OriginTrail Decentralized Network. This TRAC token was created with a total supply of 500 million, all of which were pre-mined at the time of launching the ICO, this is a non-inflationary token.
TRAC is an ERC-20 running on the Entereum blockchain which is currently more than half in circulation, 358,589,352.22 TRAC. While the current market cap has not exceeded billions of dollars and is only $836,292,731 at the time of writing.
Token Utility
TRAC in the OriginTrail ecosystem has several utilities including:
- Engaging in the OriginTrail Ecosystem.
- Publishing data to the ODN.
- Collateralization by Data Holders.
- .TRAC Usage as a Polkadot Native Token.
- Staking TRAC.
- Knowledge Incentivization.
How to buy OriginTrail
How to buy OriginTrail TRAC tokens The first to look for exchanges that provide TRAC tokens on their platform. The next steps you need to do for the TRAC token purchase process are:
- Open an account on the respective exchange where you will buy TRAC coins.
- Comply with all registration procedures, most exchanges comply with AML and KYC rules, therefore you may have to send the required documents in the account verification process.
- Fund your account, this is mandatory because you need funds to buy, depending on the exchange, some accept local currency and some only accept cryptocurrency, or some with credit cards.
- Buy OriginTrail with funds that have been deposited. Make sure you have found a wallet that is compatible with TRAC coins for storing.
How to stake OriginTrail
How to start Staking OriginTrail requires a Metamask wallet which you need to install in your browser. Next, you connect your Metamask wallet by visiting the OriginTrail.io staking page.
TRAC is an ERC-20 token and the Metamask application has been widely used for desktop wallets with various uses. You can use Metamask for staking by locking your TRAC coins in the Ethereum blockchain.
The staking page will automatically detect your browser if you don’t have the Metamask extension installed, you have to install it first. You can lock TRAC tokens to get rewarded for profitable investments.
Where to buy OriginTrail crypto?
When TRAC tokens have started trading on exchanges, the price movements of these tokens have become more volatile. Citing from the official OriginTrail.io website, TRAC tokens are already available on the following exchanges. Among them is the Decentralized Exchange.
Buy OroginTrail TRAC Coinbase
If you’re a cryptocurrency fan, you know the Coinbase exchange. This is an exchange that is based in America but already has global clients. You can buy OriginTrail tokens here, or if you want to get detailed information about prices, market caps, buying or selling tendencies, and so on.
Buy OriginTrail TRAC Bittrex global
Bittrex global informs that it has listed the trading pair ETH-TRAC and USDT-TRAC on June 18, 2020, via their official Twitter account @BittrexGlobal.
You can sell or buy TRAC tokens using the cryptocurrency ETH or USDT through their platform, global.bittrex.com
Buy OriginTrail TRAC Uniswap Dex
Uniswap is a Decentralized Exchange platform that runs on the Ethereum blockchain. Users can swap TRAC tokens with other crypto tokens, such as ETH, DAI, AAVE, and many other crypto options.
Since it is a Decentralized exchange you need to pay attention to the transaction fees as well. The simplicity of users does not have to send documents for KYC as in centralized exchanges.
Buy OriginTrail TRAC Kucoin
Kucoin is also an exchange where you can trade TRAC tokens with other cryptocurrencies such as Bitcoin and ETH. This is a global exchange that is also a popular global exchange, read the Kucoin review here.
Buy OriginTrail TRAC Bancor
You can use the Bancor network app for swapping Trac with other tokens. This exchange may be less popular among fans but it will provide an interesting experience for you. Go to Bancor to swap TRAC.
Buy OriginTrail TRAC Bitmart
Bitmart is one of the exchanges ranked in the top ten exchanges based on the Coinmarketcap rating. The exchange has more than 5.5 million users globally. You can buy TRAC tokens with other crypto pairs such as ETH, BTC, and so on. Trade TRAC/ETH on Bitmart.
Buy OriginTrail TRAC Idex
Idex is another exchange where you can buy TRAC using ETH. Idex is Hybrid Liquidity DEX is good by using Order Book + AMM.
Is TRAC a good investment?
OriginTrail recently experienced a very drastic price spike, from the $1 range up sharply to $3 in just one trading day.
What does it mean? It was OriginTrail’s increased adoption that caused its price to soar. The exact cause is not known, but it is suspected by the news that OriginTrail can help during the pandemic.
In which OriginTrail submitted a proposal to the World Economy Forum for the idea on UpLink, the World Economic Forum’s crowdsourcing platform for innovations.
The solution offered by OriginTrail crypto can be applied to verify health equipment data to ensure that the health equipment is from a trusted company.
Meanwhile, Cointobuy analyzed OriginTrail and it got a security score of 3.8. This may not be good if you look at the score. However, the potential increase in TRAC prices reaches +112.3%.
TRAC Origintrail crypto price prediction
Forecasting experts predict the price of TRAC tokens will increase in value from the analysts’ average stated. Although the market capitalization is still relatively low, seeing the recent increase in volume gives a positive signal for TRAC.
Digitalcoinprice predicts the price of TRAC to gradually increase from year to year. 2021 is projected to reach $2.85. 2022 rose to a price level of $3.29. 2023 rose again to the price level of $3.85. 2024 rises to $4.61. 2025 rise in price level $5.54. 2026 up again to $6.43. 2027 up again to $7.41. 2028 rises to $8.19 USD
Priceprediction projects OriginTrail’s price increase in 2028 to reach $36.69 for the maximum price.
Wallet investors predict TRAC is a bad investment, they predict the price will drop for the next year to as low as $1,429. And predicts in 2026 the price will rise slightly in the range of $2,845
OriginTrail technical analysis
The price of the TRAC token has experienced its highest price increase in early November 2021 with a price level of $5. Then the price started to decline and was in the range of $1.5 low and $3.5 high
From the picture above we can see that the current price level is around $1.8 with the MA indicator pointing downwards. The downward movement is still possible. While the RSI indicator has shown a value of 38 and he has come out of the oversold zone.
While referring to the MACD indicator the signal line has crossed at the histogram level 0. It indicates a downward trend.
Meanwhile, according to the RSI indicator, which shows level 39 indicates that the current price has not indicated that it has entered the oversold area. Thus, if you follow the RSI, there is still a possibility that the price will fall even lower.
OriginTrail crypto future price
The price of TRAC tokens is affected by real-world adoption, as well as the volume of token trading on crypto exchanges.
It is also important to read the latest updates on OriginTrail developments carried out by the development team either through blogs or social media accounts. That at least provides information on the growth of platform adoption in the market.
The joining of new investors also provides a plus value for the progress of the platform. However, the future price of TRAC is uncertain, this is a risky asset, and as an investor, you should pay attention to the risks that may arise at any time.
OriginTrail vs Vechain
OriginTrail has competitors VeChain, they are both data infrastructure platforms. One difference according to one answer on the Reddit forum is that VeChain is a blockchain and OriginTrail is a protocol. But Some opinions state that VeChain is better than OriginTrail.
Another opinion states that OriginTrail provides higher returns in the short term, even though Vechain has big partnerships which will use the platform.
Final Thought
OriginTrail as of October 2021 has become a highly volatile crypto asset. TRAC tokens allow up to hundreds of percent in a day, but they can drop quickly too. For short-term trading, this crypto asset can provide a hefty gain. However, in the long term, it is still a question, because other competitors such as VeChain are considered to be better than OriginTrail.
Note: This article is just personal information and opinion, not investment advice, forex, crypto, CFD are risky assets, each investor is responsible for his investment.
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