Deep Dive Into $TRAC : Frontrunning The AI Narrative 🤖
What's the story behind the growth of $TRAC and AI as a whole.
What is OriginTrail
The rise of AI has brought tonnes of misinformation due to its vast capabilities. Large language models like ChatGPT occasionally respond with incorrect data. This AI hallucination has created the need for data verification.
TL;DR🍿
OriginTrail aims to eliminate misinformation in AI by utilizing a Decentralized Knowledge Graph.🧠
The project's main features include data storing and sharing, immutability, and scalability3️⃣
OriginTrail has seen success in partnerships with industry names such as Walmart and Google.🤝
OriginTrail is one of the early projects that aim to eliminate this shortcoming by creating a decentralized trusted knowledgebase for AI. This is done by using a data structure called Decentralized Knowledge Graph that can help store and fetch data that can not be fragmented. This creates numerous use cases in the fields of healthcare, supply chain, and e-commerce.
The main features of the protocol include📍:
Data storing and sharing
Immutability
Interoperability within data silos
Sensitive data protection via zero-knowledge proofs
Scalability
The original idea of OriginTrail was based on the idea of data challenges in the supply chain sector but with the advancements in AI, they have dived into creating a product that makes data verifiable over the internet. The technology can be seen in action by looking at the ChatDKG chatbot designed by the OriginTrail team.
TRAC — Utility and supply
The native token TRAC is used to incentivise the usage and adoption of the Decentralized Knowledge Graph. TRAC is an ERC-20 token with a fixed pre-mined supply of 500 million. The platform operation is fully dependent on the utility token since participation and publishing require the users to hold the TRAC tokens. The data holders are also required to stake TRAC in a smart contract for the length of the data job. This is to prevent data tampering and the tokens can be redeemed after.
These utilities combined create a triple effect. The 2019 Vision paper explains this effect as follows:
When data gets published on ODN, the publisher creates a certain demand for TRAC that is used to compensate the nodes in the network for holding the published data. At the same time, the same demand gets created for TRAC that is put as collateral for that particular job. While that collateral gets locked, it effectively also lowers the entire available supply of TRAC, thus creating the third effect.
The Team and Partnerships
Although the OriginTrail team doesn’t have industry-leading blockchain founders, the project has seen a lot of success in terms of adoption and partnerships.
The company is operated by a group of three Slovenian co-founders. Tomaz Levak operates as the CEO of the company. He has a degree in international relations and human resources.
The second founder Branimir Rakić brings his experience as a web developer, and network test engineer to the table as the CTO of the company.
The third founder, Ziga Drev, is the COO and the managing director who looks after all company operations.
Under the supervision of this trio, the company has been supported by well-known industry names like the British Standards Institution, Walmart, Google, and Oracle among others.
Digest Further
OriginTrail’s roadmap has reached the Metacalf phase, a name inspired by the Turing award winner Dr. Bob Metacalf.
During the Genesis period of the phase, the company envisions leveraging connectivity to fuel network effects across the multi-chain OriginTrail Decentralized Knowledge Graph, aiming to achieve 1 billion Knowledge Assets.
Their targets include ensuring 40% of the TRAC circulating supply is activated for utility, with over 100 million TRAC tokens locked for network security, and an average security collateral per node of 300,000+ TRAC tokens. OriginTrail has also successfully launched delegated staking on their platform and saw an immediate rise in numbers on the platform.
Meeting the roadmap promises creates exciting prospects for the overall project in terms of adoption and utility.
Why Are AI Coins Doing Well?
AI has been the talk of the town for the past few years. The utility has spanned from businesses to technology and crypto projects are taking their chunk as well.
All in all, the rise of AI is creating an immense need for trust and verifiability. OriginTrail’s vision and roadmap creates a unique approach to making data verifiability accessible and monetizable. The team took years to perfect data visibility in the supply chain sector before moving to the AI sphere. If the decentralized knowledge graph pans out the way OriginTrail’s roadmap envisions, the prospects are positive for the project. The only aspect to focus on is the competitor’s advantage companies like OpenAI have. OriginTrail should have its eyes on partnerships with these giants to sustain after the AI tsunami.
It’s important to note that this research was written for the sake of education and pure entertainment value!
Please DYOR on every project, and remember, this is not investment advice🙏
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