TRAC

Overview of TRAC

OriginTrail (TRAC) is a token that powers a decentralized knowledge graph (DKG) system. TRAC functions as the utility token within the OriginTrail ecosystem. It fuels various operations on the DKG, including creating and updating knowledge assets, running nodes that contribute to the network's functionality, and participating in delegated staking, a method for securing the network and earning rewards.

Technically, TRAC is an ERC-20 token. This means it operates on the Ethereum blockchain and can be stored in any wallet compatible with the Ethereum Virtual Machine (EVM), such as MetaMask or popular hardware wallets.

To obtain more information, you can visit their website:https://origintrail.io/and try to log in or register to use more services.

Pros & Cons

Pros of TRAC:

Combats Misinformation in AI: TRAC addresses a critical challenge in the age of AI - ensuring the trustworthiness of data used by AI systems. By verifying the origin and discoverability of information, TRAC aims to mitigate the spread of misinformation and bias in AI applications.

Real-World Applications: TRAC has the potential to improve data management and verification in sectors like supply chain management, healthcare, and scientific research. This can lead to increased efficiency, transparency, and traceability.

Established Ecosystem: OriginTrail has a functioning platform with its own token (TRAC) and various products like nOS, DKG Explorer, and ChatDKG. This demonstrates a working model with potential for growth.

Cons of TRAC:

Reliant on Ecosystem Adoption: The success of TRAC depends heavily on the wider adoption of the OriginTrail DKG by businesses and organizations. Without widespread use, the value proposition of TRAC might be limited.

What Makes TRAC Unique？

TRAC stands out with its focus on trust and verification in the age of Artificial Intelligence (AI). TRAC constructs a Decentralized Knowledge Graph(DKG). This DKG functions as a secure, shared database where information can be stored and verified. The emphasis on verifiable data origin and discoverability is crucial for ensuring the trustworthiness of information used by AI systems. By verifying the origin and traceability of information, TRAC tackles the spread of misinformation, a critical issue as AI applications become increasingly reliant on data to make decisions.

With unreliable data feeding AI systems, biased or inaccurate outcomes can arise. TRAC aims to mitigate this risk by ensuring the information used is trustworthy. TRAC doesn't offer a one-size-fits-all solution. It caters to specific industries like supply chain management, healthcare, and scientific research.

This focus on real-world applications with tangible benefits for data management and verification sets TRAC apart from more generic blockchain projects.

How does TRAC Work？

Decentralized Knowledge Graph (DKG): Imagine a giant, secure database spread across a network of computers. This is essentially the DKG. Here, information is stored as “Knowledge Assets” - ownable and verifiable pieces of data. These Knowledge Assets can be linked together, creating a web of interconnected information.

Creating and Updating Knowledge Assets: Businesses or organizations can use OriginTrail's nOS (Network Operating System) to create and manage Knowledge Assets on the DKG. This nOS allows them to specify the type of information, its origin, and any relevant details. TRAC tokens are used to pay for the creation and update of these Knowledge Assets.

Verifying Information: The DKG ensures the authenticity and traceability of information. When someone wants to verify a specific piece of data, they can access its Knowledge Asset on the DKG. This Knowledge Asset will contain details about the information's origin, creator, and any updates it might have undergone.

Running Nodes: The DKG is maintained by a network of computers called nodes. Anyone can contribute to this network by running a node. TRAC tokens are used as an incentive for running these nodes, rewarding users for helping to secure and maintain the DKG network.

Delegated Staking: TRAC holders can also participate in delegated staking. This involves locking up their TRAC tokens for a specific period to support the network's security. In return, they earn rewards in the form of additional TRAC tokens.

Market & Price

As of June 12, 2024, 11:40 AM SGT, TRAC is sitting at $0.7792. This information is readily available on various cryptocurrency websites like CoinMarketCap or Binance.

Looking at the past 24 hours, there's a slight positive trend. TRAC has managed to inch up by 0.52%. However, zooming out to the past week paints a different picture. The price has dipped by 10.10% compared to this time last week.

Comparing the current price to its all-time high of $3.50 reached in November 2021, it's a significant drop of 77.25%.

TRAC has experienced some volatility recently. Over the past 30 days, its price has fluctuated by 5.37%. This volatility is a common feature in the cryptocurrency market.

Exchanges to Buy TRAC

Binance: The world's leading cryptocurrency exchange by trading volume, offering a massive selection of cryptocurrencies. It also provides advanced features like margin trading and staking. See this link for details on how to buy TRAC: https://www.binance.com/zh-CN/how-to-buy/origintrail

Step 1: Get a crypto wallet: Trust Wallet is a popular option. Download it for your phone or computer.

Step 2: Set up your wallet: Follow Trust Wallet's instructions to register and secure your wallet.

Step 3: Buy Ethereum (ETH) on Binance: You'll need ETH to buy TRAC. Use Binance's guide if you're new to buying crypto.

Step 4: Transfer ETH from Binance to your wallet: Send your purchased ETH from Binance to your Trust Wallet address.

Step 5: Choose a DEX: A DEX is a decentralized exchange. 1inch is an option that works with Trust Wallet.

Step 6: Connect your wallet to the DEX: Link your Trust Wallet to the chosen DEX using your wallet address.

Step 7: Trade ETH for TRAC: Select ETH as your payment and TRAC as the coin you want to buy.

Step 8: Find TRAC's smart contract address (if needed): If TRAC isn't listed, use etherscan.io to find its address and add it manually. Be cautious of scams and verify the address is official.

Step 9: Finalize the swap: Once everything is set, click “Swap” to complete your TRAC purchase.

Bitget: This exchange caters to experienced traders by focusing on derivatives trading with features like perpetual contracts, futures contracts, and copy trading. See this link for details on how to buy TRAC: https://www.bitget.fit/how-to-buy/wallet/trace-eth

Step 1: Download Bitget Wallet. Grab the Bitget Wallet app or Chrome extension to access the Trace ecosystem.

Step 2: Create a Trace Wallet. Set up a dedicated wallet specifically for Trace cryptocurrency within the Bitget Wallet.

Step 3: Buy Trace with Fiat. If you don't currently own Trace, you can purchase it directly using fiat currency (USD, etc.) through the built-in OTC service offered by Bitget Wallet.

Step 4: Withdraw Trace from Bitget. Already have Trace on the Bitget exchange？ You can securely transfer it to your Bitget Wallet for easier management.

Step 5: Connect to DEXs. The world of crypto offers Decentralized Exchanges (DEXs). If you want to trade Trace on a DEX, connect your Bitget Wallet for seamless transactions.

Step 6: Trade on Bitget Swap. No need for external exchanges! Trade Trace directly within the user-friendly Bitget Wallet app using Bitget Swap.

Step 7: Earn Rewards. Bitget Wallet offers features like Task2Get and referral programs. Explore them to potentially earn rewards on your Trace holdings.

Coinbase Exchange: A user-friendly platform known for its intuitive interface and robust security features. Perfect for beginners, it offers a decent variety of popular cryptocurrencies. However, fees might be slightly higher compared to some competitors.

Gate.io: A global exchange boasting an extensive selection of cryptocurrencies and advanced trading options like margin trading and lending.

HTX: HTX is a cryptocurrency exchange founded in 2013 in China and now headquartered in Seychelles. It offers a wide range of services, including spot trading, futures contracts, staking, and lending. HTX is known for its high liquidity and extensive selection of cryptocurrency pairs.

KuCoin: A popular choice for crypto enthusiasts due to its vast library of cryptocurrencies, including many lesser-known tokens. It caters to various needs by offering spot trading, margin trading, and staking services.

Crypto.com Exchange: A leading exchange with a strong mobile app, offering a variety of cryptocurrencies and features like margin trading and staking. It's a solid option for those who prioritize mobile app convenience.

Bitstamp: Renowned for its high liquidity and exceptional security measures. While it offers a more limited selection of cryptocurrencies compared to some exchanges, it's a secure choice for those who prioritize safety.

BitMart: BitMart, founded in 2017 and based in the Cayman Islands, is a global cryptocurrency exchange offering a wide array of digital assets and trading pairs. The platform provides services such as spot trading, futures trading, staking, and lending. BitMart is known for its user-friendly interface and competitive trading fees.

Uniswap V2: Unlike the centralized exchanges mentioned above, Uniswap V2 is a decentralized exchange (DEX) built on the Ethereum blockchain. It doesn't require user accounts or verification, offering a wide variety of tokens.

How to Store TRAC？

Hot Wallets:

MetaMask: A popular and user-friendly mobile and browser wallet that supports a wide range of ERC-20 tokens, including TRAC. It offers convenient access to your TRAC, but remember to prioritize strong security practices.

MyEtherWallet (MEW): Another popular option for managing ERC-20 tokens. MEW offers browser and mobile app versions for user convenience.

Cold Wallets:

Ledger Nano X: A leading hardware wallet known for its robust security features and user-friendly interface. Ledger supports a vast array of cryptocurrencies, including TRAC.

Trezor Model T: Another secure hardware wallet option that provides offline storage for your TRAC tokens. It offers a slightly more technical interface compared to Ledger.

Is It Safe？

TRAC resides on the Ethereum blockchain, known for its security but not without vulnerabilities.

The biggest influence on TRAC's safety is your chosen storage method. Hardware wallets, keeping your private keys offline, are the most secure option. Software wallets offer convenience but might be less secure.

Personal security practices also play a role. Using strong passwords and enabling two-factor authentication significantly improves the safety of your TRAC. Additionally, staying informed about potential security issues related to TRAC or the platforms you use is crucial.

TRAC's safety is also linked to the overall security of the OriginTrail ecosystem, including its new blockchain network, NeuroWeb. Regularly reviewing project updates and announcements can help you stay informed about potential security concerns within the ecosystem.

How to Earn TRAC Coins？

Running a DKG Node: This permissionless network allows anyone to contribute by running a node. However, it requires technical knowledge and resources for setup and maintenance. As a reward for securing the network, node runners earn TRAC.

Staking TRAC: Some platforms might offer staking options for TRAC. Staking involves locking up your TRAC for a period to earn rewards.

Contributing to the Community: The OriginTrail community welcomes participation from developers and enthusiasts. You could potentially earn TRAC by contributing in various ways, like bug bounty programs, writing documentation, or participating in hackathons. Look for opportunities on the OriginTrail website or community forums.

Conclusion

TRAC offers a promising approach to building trust in AI data. OriginTrail's DKG system, powered by TRAC, verifies information origin and discoverability, combating misinformation in AI. However, TRAC's success relies on widespread adoption of the DKG. Also, TRAC's price fluctuates, which is typical for cryptocurrencies.

Earning TRAC is possible through various methods, but caution is advised. Running a DKG node requires technical skills, and staking TRAC involves platform research. Contributing to the OriginTrail community offers another option. Remember, cryptocurrency investments are inherently risky. Before participating, considering market volatility, security concerns, and potential regulatory shifts.

Frequently Asked Questions (FAQs)

Where can I get TRAC tokens？

TRAC tokens are available on exchanges like Coinbase, Binance, Huobi, KuCoin, BitMart, Uniswap, and others.

What are the utilities of TRAC？

TRAC is used for operations within the DKG.

Where can I store TRAC？

TRAC can be stored in any EVM-compatible wallet like MetaMask or hardware wallets like Ledger and Trezor.

How can I contribute to DKG？

Participate by running DKG nodes, publishing assets, staking on keywords, or contributing to the codebase on GitHub.

In which solutions is the OriginTrail DKG deployed？

It is used in various industries such as pharmaceuticals, food, construction, international trade, and decentralized data marketplaces.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.