Trac Ecosystem

All things Bitcoins

A Bit of background

Thank you to everyone taking the time to dive into the pages that follow.

It’s been some time since BennyTheDev set $TRAC in motion on the 3rd May 2023, and with this Medium publication and the articles to come, we aim to shed light on our ongoing projects. We’ll delve deeper into our construction process, address the questions we frequently encounter on Discord and other online platforms, and strive to maintain transparency in an industry where clarity isn’t always the norm.

Trac Systems

Last month marked a significant milestone with the formal incorporation of our company under the name Trac Systems. Our vision extends beyond the creation of a singular product; we’re committed to developing a comprehensive suite of tools essential for the forthcoming wave of Bitcoin adoption and to optimize Bitcoin’s capabilities to ensure its full potential is realized. A Trac ecosystem if you will.

We are a team of builders, passionate about innovation and constantly striving to think outside the conventional framework to deliver pioneering solutions that not only advance the industry but also facilitate the adoption of Bitcoin and blockchain technology.

In our initial Medium article, we aim to provide an overview of what we have accomplished thus far, introducing our developments at a high and comprehensive level.

Trac Core

BennyTheDev launched his first creation, Trac, in May 2023, embedding the essence of both an indexer and an oracle within it. Designed to serve across the whole Bitcoin ecosystem, Trac Core acts as a comprehensive tool that sifts through, tidies up, and simplifies the access to Bitcoin’s expansive data. It fetches updates from the blockchain, methodically sorts them out, and promptly avails them for searches and analyses via APIs, constantly refreshing this information with the blockchain’s ongoing activity.

Simultaneously, Trac Core embodies the role of an oracle for Bitcoin, establishing a reliable channel to the world beyond the blockchain. It fetches necessary data from external sources to feed into the blockchain, which is vital for the operational operations that depend on accurate and secure data from outside their closed environment to function correctly. Trac Core, therefore, stands at the crossroads of internal blockchain navigation and external data liaison.

Trac Core will be an open-source release and heavily focus on decentralized shipping of relevant Bitcoin & Ordinals data.

TAP Protocol

TAP is a cutting-edge multi-asset metaprotocol for Bitcoin Ordinals, enabling more complex financial operations directly on the Bitcoin blockchain, powered by and benefiting from the Ordinals ecosystem. It’s designed to be more flexible and user-friendly than other token metaprotocols, enabling features like token staking, swapping, and liquidity pools (to name a few) without the need for secondary layers or complex mechanisms.

The TAP protocol enables a robust ecosystem for Bitcoin financial activities, often referred to as OrdFi, by providing a suite of functionalities tailored to enhance the Bitcoin experience:

• Swapping and Staking: Within the TAP ecosystem, users can effortlessly swap tokens and stake them to bolster the network and earn rewards, merging liquidity with incentive.
• Liquidity Pools: TAP supports the creation of pools of tokens that users can contribute to, enabling decentralized trading and earning fees in return.
• Token Authentication: It provides a framework for authenticating tokens within platforms, potentially for use as in-game currency or items.
• TAP Art: Allows for linking Ordinals with tokens living on the TAP protocol, allowing for fractionalized ownership of value art. By extending the TAP protocol, the provenance of both, token deployment and Ordinal ownership will be preserved.
• Multi-send: Users can send multiple transactions in one go, simplifying the process of distributing tokens to various recipients. Airdropping tokens within Ordinals has never been easier and cost-effective than with TAP.
• Multi-asset Protocol: Finally, TAP acts as a multi-asset protocol, meaning it can handle various types of assets beyond just one standard, broadening the scope of transactions and interactions within the Bitcoin blockchain.

Divided into external and internal parts, TAP external functions work like BRC-20, allowing for easy integration with current marketplaces and wallets. Internally, it provides users with additional features that can be expanded upon through community governance using the $TRAC token.

Pipe Protocol

Pipe uses Unspent Transaction Outputs (UTXOs) to monitor transactions. Each user’s balance is the sum of UTXOs they can spend, and spending these creates new UTXOs for recipients and change. This model ensures security against double spending and provides enhanced privacy and efficiency.

Adding to this, Pipe extends the capabilities of Bitcoin’s UTXO system with features aimed at digital art and collectibles:

• Art: Pipe supports transactions related to buying, selling, or transferring digital art pieces.
• NFT (Non-Fungible Tokens): It allows for the creation and management of NFTs, which can represent ownership of unique digital items or art.
• Inscribe: Users can inscribe data onto a Bitcoin transaction, which could be used to add details or authenticity to digital art.
• Transfer: Pipe enables the transfer of UTXOs, which can represent various assets, including digital art and NFTs.

Pipe leverages Bitcoin’s fundamental UTXO architecture to bring advanced functionalities for digital assets and NFTs to Bitcoin.

Trac Ecosystem & Governance

Trac introduces a chained-governance model to connect products and protocols within its ecosystem. This approach enables various products and protocols to leverage each other’s success and connections. Beyond governance, it fosters seamless interoperability among Trac’s ecosystem products in a uniform and comprehensive manner.

Conclusion

In the coming weeks, we’ll be delving into each component mentioned above with greater detail, providing a closer examination of their intricate features and the value they bring to the blockchain space. Keep an eye on this platform as well as all our social channels for updates and the latests changes.

Socials

Trac Systems Discord: https://discord.gg/trac
TRAC on X: https://x.com/trac_btc
TAP on X: https://x.com/tap_protocol
Pipe Protocol on X: https://x.com/PipeBtc
TAP Protocol Telegram : https://t.me/tap_protocol
Pipe Protocol Telegram: https://t.me/pipe_btc