OriginTrail: Bringing Real-World Assets (RWAs) On Polkadot
Real-world assets (RWAs) represent an array of physical assets like real estate, artwork, precious metals, commodities, intellectual properties, and more. Tokenizing these assets on the blockchain unlocks new possibilities for liquidity, transparency, and accessibility.
OriginTrail harnesses the power of the OriginTrail Decentralized Knowledge Graph to extend discoverability and verifiability, bringing greater value for interconnected Web3 assets to Polkadot.
The Worlds First Decentralized Knowledge Graph
OriginTrail is already in use in an array of industries, powering trusted data exchange. Users also include a number of Fortune 500 companies. OriginTrails ability to organize billions of assets for Web3 enables the discovery and verification of nearly every type of asset, including physical and digital assets, DeFi, and NFTs. It allows users to turn real-world assets such as food, luxury items, food, art, and even property into Web3-native assets. It also makes them discoverable, enables verification, and makes their ownership transferable.
OriginTrail uses blockchain and a Decentralized Knowledge Graph (DKG) technology to manage data from and about real-world assets in the digital space and help improve the discoverability of shared knowledge. The platform was originally created to bring blockchain technology into supply chain logistics. The idea was to make OriginTrail a trusted hub for supply chains and allow customers to authenticate products, share data, track products, and keep operations secure. OriginTrail also addresses problems such as misinformation by ensuring the origin of all information for its users. It is being used in partnerships with leading global entities from various industries, such as food & beverage, pharmaceuticals, retail, railways, and more.
OriginTrail consists of two layers: Layer1, which is made up of a blockchain, and Layer2, which is a Decentralized Knowledge Graph (DKG). This can theoretically take blockchain technologys trustless and verifiable nature and add a DKG representation of data in a complex yet functional system.
How Does The OriginTrail Parachain Work?
The OriginTrail Parachain was envisaged as a purpose-built Layer1 and brings a formidable capacity to incentivize the use and growth of DKG without sacrificing decentralization and network effects through interoperability with other parachains. The parachain is designed to integrate smoothly with the OriginTrail DKG and is optimized for maximum performance and usability. It leverages Polkadots strong trust model and inherent interoperability to facilitate smooth integration with other Polkadot ecosystem projects.
The OriginTrail Parachain has several unique features designed to support the OriginTrail DKG. These include
Integration with knowledge graph technology
DKG usage growth incentivization using the OTP token
EVM support to integrate with smart contracts and projects
Governance features
Significant improvement in scalability.
The advancements brought by the OriginTrail Parachain will drive use cases, allowing real-world assets such as cars, luxury items, art, property, and other commodities to be turned into Web3-native assets. It will also give real-world assets exposure to the Web3 ecosystem and concepts. Thanks to Polkadots interoperability across parachains, OriginTrail-introduced real-world assets can tap into all of the toolkits available in the Polkadot ecosystem.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Read more: https://cryptodaily.co.uk/2024/07/origintrail-bringing-real-world-assets-rwas-on-polkadot
Text source: Crypto Daily™
