What is OriginTrail (TRAC) – How does it Work?

OriginTrail (TRAC) is a one-of-a-kind technology that enables supply chain IT providers to build up blockchain-based data sharing in a multi-organizational setting. It enables them to go beyond the “one step down, one step up” traceability approach to increase transparency. It also enhances the accuracy of product data and increases efficiencies for all parties involved. The OriginTrail solution’s first version has been tested and is currently in use in the food business. Any product supply chain, such as automobiles, consumer products, pharmaceuticals, and so on, will benefit from the impending open source version.

All stakeholders can securely exchange their data with OriginTrail (TRAC) while keeping sensitive data fully secured at all times. OriginTrail ensures compatibility with existing ERP systems by supporting global data interchange standards (GS1, IoT, compliance norms). This speeds up the deployment process.

To deliver the best solution, they use the OriginTrail protocol (TRAC), which runs on an off-chain decentralised peer-to-peer network called the OriginTrail Decentralized Network (ODN). It enables network peers to contract services, send, analyze, and extract information, as well as verify data integrity and availability and reimburse provider nodes. This method decreases the quantity of data kept on the blockchain, leading in cost and time savings.

Two system levels sit on top of the blockchain layer: the network and data layers, which together make up the ODN system. The ODN (TRAC) is able to provide a cost-effective solution for data integration and manipulation for supply chain stakeholders due to its computational and storage efficiency.

Price Movement – OriginTrail (TRAC)

The currency reached an all-time high in November, when it traded for around $3.5, before dropping to almost $0.90, losing 75% of its value. At the time of writing this article, TRAC was trading at $1.03, up 5% over the previous 24 hours. There was a good pump at the start of Q4 2021. The price has climbed considerably since the reversal, providing tremendous gains. In the last 24 hours, the volume has surged by 123 percent. On the monthly time period, we’ve witnessed a 10% drop this month, and we can see that the coin is making lower lows and higher highs on the monthly time frame. TRAC is a cryptocurrency that is featured on coinmarketcap.com.

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