- What is Robonomics.network (XRT) Cryptocurrency?
- Why was XRT Cryptocurrency Invented?
- How Does Robonomics.network Work?
- How and Where to Buy XRT Cryptocurrency
- 1. Buying BTC on Fiat-To-Crypto Platforms
- 2. Exchanging BTC for XRT In Alt-Coin Exchanges
- Investing in XRT Cryptocurrency
- Frequently Asked Questions (FAQs)
Cryptocurrencies, by their very definition, are very flexible assets, perhaps more so than more conventional investments such as equities or bonds. Whatever demonstrates the most potential in the real world is more likely to increase in value, which is why many developers are keen to make their cryptocurrency stand out from the rest of the pack.
Before investing in any new cryptocurrency, you should conduct adequate research first, as this will help you avoid obvious risks. XRT cryptocurrency, a new token based on Ethereum, is one example of this type of cryptocurrency. In the upcoming sections, we are going to talk about XRT, its history, and the process by which you can buy and sell it right now.
What is Robonomics.network (XRT) Cryptocurrency?
In the same way that equities represent corporations, cryptocurrency coins typically reflect enterprises that are based in the real world. Crypto, as opposed to offering a tangible, pre-existing business, makes the promise of a better life and the value that comes from being among the first to implement the change. The XRT cryptocurrency is exactly the same.
Before we can get a grip on the new XRT crypto, we have to get a grasp on the project that it was developed for, which is the Robonomics Network. This project, known as Robonomics, aims to transform how people utilize robots by integrating them smoothly into the ecosystem of blockchain technology.
This project was initially started in 2017 by a group of Russian developers named Lonshakov, Kapitonov, Krupenkin, and Starostin, and its major goal was to offer consumers an integrated method by which they may communicate with the IoT, also known as the Internet of Things. In its most basic form, the network utilizes smart contracts in order to link robots to the blockchain. The idea is comparable to the operation of a vending machine.
The moment money is inserted into a vending machine, it begins dispensing items to customers. In the same way, robots can be connected to the blockchain, and users can “pay” for the services provided by the robots with the network’s token, which in this case is XRT cryptocurrency. After each individual owner has paid their XRT crypto over the blockchain, they will then be able to use the robot until the terms of the smart contract have been met.
These robots might range from one-of-a-kind, individual robots to a whole factory made up of a single AI ecosystem. They could even take the form of a fleet of drones. By doing things in this way, the Robonomics Network makes it simple to incorporate the productive potential of cutting-edge technology and robots into the economy of the real world.
The Robonomics Network team has grown to include more than fifty members at this point. Their dream for the future involves a world in which communication between machines and machines, as well as machines and humans, is commonplace. In order to accomplish this goal, the Robonomics team is currently developing the following primary tools for XRT cryptocurrency:
- Curating an open-source platform for developing Internet of Things applications.
- Integrating cryptocurrencies into the economy of robotics.
- IoT devices “digital twins” are being created.
- Creating software to connect Internet of Things devices to the cloud.
Why was XRT Cryptocurrency Invented?
The XRT cryptocurrency has emerged as an essential component of the Robonomics ecosystem as the company continues to grow and advance. The Robonomics network is the one that the XRT cryptocurrency was designed for, much like other cryptocurrency platforms. Since the entire ecosystem is based on the blockchain, it requires additional actors in order to carry out its transactions and validate them. This keeps the network in good condition while also ensuring that it remains trustworthy and decentralized.
In addition to this, the XRT cryptocurrency will make it possible for individual participants in the network to engage in conversation with the Internet of Things. To put it another way, if the internet of things robots are vending machines, then XRT crypto is the only coin that they will accept in order for the machine to function properly. Due to this, in addition to functioning as a network tool, the XRT token now also serves as an economic incentive.
Users are granted access to the blockchain networks that the Robonomics platform is built into, such as the Ethereum Virtual Machine and the Polkadot Network. Users are also granted access to system-specific networks, such as the AIRA OS and the Robotics Operating System, through the use of the XRT cryptocurrency.
On October 7, 2019, the XRT crypto was made available for trading on public exchanges. As of the time this article was written, the price of Robonomics.network (XRT) was close to $18, and the token’s entire market capitalization was close to 19,380,00 USD.
How Does Robonomics.network Work?
The question is, how precisely does the notion of Robonomics.network work? There are already several applications of this research that are already being used in the real world. If you grasp how it operates, you should also have an easier time comprehending XRT cryptocurrency.
The following is a concise list of the applications of XRT cryptocurrency in the real world:
- Launching the Distributed Sky Project. This project implemented the primary goal of Robonomics.network by using an Ethereum blockchain transaction to launch a drone.
- Commissioning Gaka-Chu. Gaka-Chu is an IoT robot that can make images and turn them into NFTs immediately after creation, exemplifying the potential for direct human-to-robot communication using the blockchain.
- Operating environmental sensors. The Clean Water Program measures the cleanliness of Europe’s longest river via IoT devices and the Robonomic network.
- Offering a decentralized hosting service. This decentralized hosting service enables ROS-enabled robots to be operated by users from all over the world.
Having said that, it is important to point out that investors are unable to acquire XRT cryptocurrency directly with fiat currency; nevertheless, it is simple to acquire XRT tokens by exchanging Bitcoin for them on a platform that hosts it. Don’t worry, though, since we’ll go over the whole process in the next sections.
How and Where to Buy XRT Cryptocurrency
The XRT coin has been listed on a number of different crypto exchanges; but, in contrast to other major cryptocurrencies, it is not possible to buy it with fiat currency directly. However, you can still easily purchase this coin by first purchasing Bitcoin from any exchange that deals in fiat to cryptocurrency, and then transferring your Bitcoin to an exchange that trades in this coin. In this section, we will walk you through the steps in detail to buy XRT cryptocurrency.
1. Buying BTC on Fiat-To-Crypto Platforms
There are a variety of exchange systems available. However, Coinbase and Uphold are now considered to be two of the most prominent sites for trading fiat currency for cryptocurrencies. The first thing you need to do is check to see if you already have an account for them. In addition to this, you might be required to go through KYC verification procedures.
Once you have an account that has been validated, you will have access to a variety of methods for adding funds to that account, such as direct deposits and wire transfers. Using the fiat currency that is currently in your account, purchase cryptocurrencies that are traded on a global scale, such as Bitcoin (BTC). When determining how much Bitcoin, and consequently how much XRT cryptocurrency, you may purchase, it is essential to remember to take into account the associated transaction fees.
2. Exchanging BTC for XRT In Alt-Coin Exchanges
Once you have Bitcoin in your possession, you can next use an altcoin exchange to purchase XRT cryptocurrency. PancakeSwap and UniSwap are two of the most well-known alternative coin exchanges that both have support for XRT tokens. Take the necessary steps to ensure that your account on each of these exchanges is fully validated. In order to complete this, you might be required to go through another KYC verification process.
Transfer cryptocurrency from your fiat-to-cryptocurrency exchange to the altcoin trading platform of your choice. After the transaction has been validated, you will be able to use the same number of Bitcoin that you have stored in your wallet to pay for the amount of XRT crypto that you want to purchase.
Investing in XRT Cryptocurrency
The XRT token is a promising cryptocurrency that, should its full potential ever be achieved, has the ability to completely transform the way in which we conduct business. Since you are now aware of everything there is to know about this coin, you have everything you need to determine whether or not buying XRT cryptocurrency would be a wise financial decision for you. The price of XRT cryptocurrency is currently around $2.27.