OriginTrail (TRAC) is a cryptocurrency token and works on the Ethereum platform. It is a project aimed at the supply chain industry, attempting to solve several common issues through blockchain technology. OriginTrail is a project targeted very specifically at the supply chain industry. It seeks to make the flow of information more accessible, more adaptable, cheaper, faster, and more secure using blockchain technology.
There are over 1500 active cryptocurrencies in circulation at the time of writing this article. As the market expands and grows, more and more will keep popping up, and it will become harder to spot the worthwhile coins from the duds. The coin has been active for less than a month yet is already starting to make waves and grow a community around it. While it is still in development, it is already being used even in its very early stages.
OriginTrail provides a helpful protocol solution to maintain trust among all users involved in leading merchandise to market by making the “chain” in the “supply chain” more authentic. OriginTrail can join stable data to produce as they move along the supply route using blockchain technology. Therefore, every participant verifies that their requirements are being met, and at each previous step, the formal requirements were also met by everyone else. This is achieved by making an application layer and stored on the blockchain. There are already product tracking systems in place, most notably under a system known as GS1, a non-profit organization that provides standard practices for how companies communicate with each other and enables data to be collected in the real world. The most recognizable standard created by GS1 is the bar code which everyone will have seen on most products.
The bar code system allows companies to print identification markings on their product that other groups can scan and track, like when a cashier scans your groceries at a checkout in a supermarket. Suppliers and Warehouses can also use bar codes to track inventory as it comes and goes. Despite this, bar codes are, in reality, a convenience to help develop interoperability between companies. They do not create a system of verification that ensures any other company using the same bar code has applied practices you would hope for and their standards.
OriginTrail is looking to combine with existing systems like GS1 standard bar codes to provide more depth. GS1 bar codes connected to the OriginTrail blockchain go from merely identifying a product to verifying where it has existed. GS1 is not the only existing standards organization OriginTrail wishes to contact. The name Global GAP, ISEAL, Rainforest Alliance, Bureau Veritas, and IBM are other organizations they are working to ally with to produce an Internet of Things. Besides OriginTrail, businesses and consumers enter information in an application interface and get back relevant information or can scan a code, such as where components were originally sourced from, who processed them, and more. Specifically, what data is revealed, what might be codified to guard proprietary practices, and other aspects vary depending on various products and regulations. Although, OriginChain will create a lot more transparency, trust, and confidence to supply chain management.
OriginTrail price today is $0.992553 with a 24-hour trading volume of $5,294,834. TRAC's price is up 10.1% in the last 24 hours. It has a circulating supply of 360 Million TRAC coins and a total supply of 500 Million. At the time of writing this post (Oct 25, 2021), TRAC's Return On Investment (ROI) over the past year was 582%, exceeded in 'xDAI Ecosystem, Polkadot Ecosystem' categories which had 249% growth over the past year. It underperformed in the crypto market which had 16162% growth over the past year.
Projects with public Github account have more transparency and reliability. Regularly, investing in projects with multiple contributors and commits is considered a safer and better investment (this means they are busy working and building the project). According to its Github account, there are 27 Contributors to the development of TRAC.
Another critical factor in the success of any project is gaining public attention. Our data shows that TRAC's Twitter account saw a growth of 59% over the last months in the number of followers, which is considerable. Also, the number of TRAC's Reddit subscribers increased by 12%.
Over the last five months, TRAC's Market Capitalization rank followed an overall increasing trend, starting at the rank of 274-384 on July-Aug 2021, reaching 291 in Oct 2021. However, by the time of writing this post, TRAC's market cap rank is about 218, and its value is $6,310,499 Million. Moreover, its liquidity score is 30% under the market's average score, making it relatively harder to sell in bear markets.
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