OriginTrail Monthly Report: May 2019
How can the same technology — the OriginTrail protocol — track both a pack of chicken drumsticks and hacked bitcoins? This was the question we posed in May to show the versatility of our technology on two examples that could not have been more different from each other. We utilized the OriginTrail data layer and created a knowledge graph to prove that our protocol can trace both physical products and digital assets. The team was busy both on the development and the business side and we finished off the month with an AMA.
OriginTrail Tracking the Binance Hack
Whether we are tracing poultry or coins, making better use of interconnected data is a key mission for OriginTrail. That is why we used data layer capabilities of the OriginTrail Decentralized Network to help track and trace $40 million worth of bitcoin stolen from the Binance exchange.
We have been overwhelmed by the response from the community to the broader impact of this use case and to this blogpost about it. The OriginTrail protocol can be applied to anti-money laundering initiatives for flagging suspicious wallets, blacklisting them from exchanges, and much more.
We have since published an additional blogpost that dives deeper into the knowledge graph and the data scaling based on Ethereum.
Accepted into the Ledger Program
The OriginTrail protocol will power the food data marketplace for the internet of the future. Trace Labs — the core development company for the OriginTrail protocol — has been admitted into the EU’s initiative with the Food Data Market program. The Ledger initiative, funded by the European Commission, selected 16 projects working on decentralized technologies to enter its Venture Builder program. We are building a decentralized data marketplace, based on the ODN, which preserves digital sovereignty and is improving data governance practices. Almost 300 organizations applied and Trace Labs is in the top 5% that got accepted.
Tech: Testnet & Mainnet Updates
Co-founder and CTO Branimir Rakić gave an extensive overview of the state of our technologies and the roadmap to the Freedom release on the mainnet in the May 2019 AMA.
We are currently in the Vostok stage of the ODN mainnet. More than 400 nodes have applied to become a part of the network, with over 5,000,000 TRAC utilized. More than 99% of jobs were successfully started with desired replications. Since the launch in December 2018, the network experienced no downtime and no data loss.
The core development team is currently working on the ability to integrate the nOS with exchanges, the first being Bittrex International. Branimir shared some details and presented the sequence diagram. None of the companies in the crypto space have done or even considered doing something like that so far — integrating their product with a secondary market where value can be exchanged in order for the network to function.
The technology on the testnet is already in the next Freedom stage. It is being used for testing and developing solutions and future features before they are implemented on the mainnet. The development team has decided to create a more powerful, two-stage approach for the transition. Stage one is expected on the mainnet in Q3. It will enable further data interoperability by implementing a new data layer version (previously planned for the Gemini stage) and introduce the first stage of the reputation mechanism based on litigation (the replacement success rate on the testnet is currently at 97%). Stage two — following the successful completion of stage one — will mean the abandonment of the node approval mechanism and the combination of litigation and reputation.
We are in the process of accelerating development and want the community to join in. We are establishing an RFC (Request For Comments) repository and are calling on the community to comment or submit their own RFCs (similar to Ethereum Requests for Comments, or ERCs). We will be publishing a list of certain ideas that can be developed in cooperation with the core development team.
Blockchain-based Certifications for OneAgrix
Halal producers and certification bodies can now use a blockchain-based system to build trust with the consumers. OneAgrix, a Singapore-based online marketplace for halal products, has implemented a system powered by the OriginTrail protocol that enables consumers to check the provenance of any products, including its halal certifications.
The Open Call Project Update
In May, we hosted the runner-up of the Open Call project — Kakaxi from San Francisco — at the week-long in-person workshop at our dev HQ in Belgrade. Together with the core development team of the OriginTrail protocol, we have developed a market-ready prototype. Kakaxi is integrating their sensor technology and time-lapse cameras with the OriginTrail Decentralized Network. The prototype was already presented at an event for Oracle users in Zagreb, Croatia.
We are continuing to work with other projects. As Žiga Drev explained in the recent AMA, some projects that were selected by the OriginTrail community are at the beginning of their blockchain journey and may need some more attention and time before they can start utilizing the ODN.
Communications & Events Highlights
OriginTrail made an impact in May with active engagement during several important events. Here are some highlights:
- Trace Labs’ General Manager Jurij Škornik shared our expertise at the IFPW’s CEO Roundtable in London. This event assembled chief executives of wholesaler and distribution companies in the pharmaceuticals industry.
- Co-founder & CTO Branimir Rakić presented about the power of the blockchain at the IDC’s C-level Executive Roundtable in Zagreb, Croatia.
- Branimir also attended the FIWARE Global Summit in Genova, Italy, focused on disruptive smart solutions and how successful businesses can develop around them. There, he explained how the OriginTrail protocol enables trusted data sharing in multi-organizational environments with OriginTrail.
- CPO Vladimir Lelićanin held a presentation at the Supply Chain Summit in Belgrade, an important regional event for supply chain managers.
- As part of their Europe tour, France24 stopped by the OriginTrail office in Ljubljana.
- Roger Ver, one of the earliest members of the crypto community visited our office.
- OriginTrail was recognized by the Serbian Prime Minister as a part of the country’s tech ecosystem.
- GS1 Global Organization recognized our collaboration in their video.
- The Walmart Food Safety Collaboration Center included us in this video at the launch of the program for the 3rd generation of projects.
And, last but not least, at the end of May, all three founders held an extensive AMA for the community. It’s definitely worth it to watch the session to gain comprehensive insight into everything that is currently going on in the OriginTrail Ecosystem and the vision for the future.
Watch it here (timestamps are in the video description):
Thanks for being a part of the OriginTrail community in May. We are already planning more ways for you to get involved with the project. Stay tuned!
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