What currency is TRAC coin?

TRAC coin, the native cryptocurrency of the OriginTrail ecosystem, is used to fuel transactions on the blockchain-based network designed for transparent and verifiable supply chains.

Nov 17, 2024 at 11:36 pm

What Currency is TRAC Coin?

TRAC coin (OriginTrail Token) is the native cryptocurrency of the OriginTrail ecosystem, a decentralized network that provides solutions for transparent and verifiable supply chains.

Key Points

• TRAC is an ERC-20 token built on the Ethereum blockchain.
• It is used to fuel transactions on the OriginTrail network.
• TRAC enables data ownership, sharing, and verification for businesses and consumers.
• The maximum supply of TRAC is capped at 500 million tokens.

In-Depth Analysis

1. Technical Specifications

TRAC is a utility token compliant with the ERC-20 token standard, meaning it operates on the Ethereum blockchain. This allows it to be traded on decentralized exchanges (DEXs) and integrated into various Ethereum-based applications.

2. Network Utility

TRAC serves as the underlying currency for the OriginTrail network, powering all transactions related to data storage, processing, and verification. Businesses and individuals can purchase TRAC to cover the costs associated with using the network's services.

3. Data Integrity

OriginTrail utilizes blockchain technology to enhance the integrity and transparency of supply chain data. By recording data transactions on the immutable blockchain, the network ensures that information cannot be tampered with or deleted, providing a reliable and verifiable record of provenance.

4. Traceability and Transparency

TRAC enables businesses to track their supply chains from end to end, providing visibility into every step of the production and distribution process. Consumers can access this data to gain insights into the origin, sustainability, and authenticity of the products they purchase.

5. Data Ownership

OriginTrail empowers businesses with the ownership of their own data. Instead of relying on intermediaries, companies can store and manage their sensitive supply chain information on the network, ensuring privacy and control.

6. Decentralized Governance

TRAC holders have a say in the governance of the OriginTrail ecosystem. They can participate in voting on proposals that affect the network's development and direction, fostering a decentralized and community-driven approach to platform evolution.

7. Market Value and Availability

TRAC is available for purchase on cryptocurrency exchanges such as Binance, Huobi, and Gate.io. Its value fluctuates based on market demand and supply, reflecting its perceived utility and adoption within the OriginTrail ecosystem.

8. Limited Supply

The total supply of TRAC is capped at 500 million tokens, ensuring a limited and predictable issuance schedule. This scarcity contributes to the token's potential value appreciation as demand for OriginTrail's services grows.