OriginTrail peaked during the beginning of November – establishing a new all-time high at $3.87. The price has since fallen by 65% from the ATH as the cryptocurrency delved into brutal market corrections. The downtrend was reversed as December approached its end but the bullish momentum was short-lived for the cryptocurrency. TRAC token has once again departed on a bearish trend as the cryptocurrency lost its bullish momentum during the day. At the time of writing, the cryptocurrency stands at a price level of $1.32 with the price having moved down by 6% during the past twenty-four hours. The daily trading volume of OriginTrail has also declined by more than 40%.
OriginTrail’s Decentralized Knowledge graphs v6
OriginTrail’s Decentralised Network (ODN) utilizes the novel Decentralized Knowledge Graphs (DKG) to discover, store and manage data related to some of the most valuable assets including art, diplomas and business certifications. The network, through its unique proposition, is working towards crucial advancements in the Web 3.0. The DKG technology is considered to be very powerful as it operates in tandem with the blockchain technology – hence, ensuring decentralization. It is being used as middleware to facilitate data exchanges between some of the largest companies in the world.
OriginTrail is taking the decentralized knowledge graph technology to the next stage in evolution through its v6 launch. The v6 is designed to be launched in three stages. The first stage is already live and will be used to ensure the smooth operation of the v6 network and data layer in a public network environment. The stage 2 will introduce incentivization layer through smart contracts which will enable delegation and staking. The final stage will ensure the migration from v5 to v6 with v6 being successfully deployed on the mainnet.
Centralised organizations like Google have amassed huge wealth through the accumulation of data and growing them. The v6 of DKG technology will enable the same functionality for the whole web 3.0. It will bring the capability to generate and grow value for the entire web 3.0 ecosystem. OriginTrail is also introducing a Universal Asset Locator which will help organize all types of assets from the physical world to the digital realm in the web 3.0.
Future outlook
The v6 of the DKG of OriginTrail is considered to be powerful and is designed to facilitate the technology’s evolution. Hence, the network can be expected to reach new heights as the v6 fully kicks in. According to the estimates of Digital Coin Price, the cryptocurrency is expected to be operating at a price level of $3.4 in five years’ time.
