Robonomics Network Coin Price & Market Data
Robonomics Network price today is $16.76 with a 24-hour trading volume of $1,071,731. XRT price is up 2.9% in the last 24 hours. It has a circulating supply of 1.1 Million XRT coins and a total supply of 9.28 Million. If you are looking to buy or sell Robonomics Network, Uniswap (v2) is currently the most active exchange.
What is Robonomics Network?
The project was started in 2017 by Sergei Lonshakov, Alexander Kapitonov, Alexander Krupenkin and Alexander Starostin. Now it’s a team of 50+ developers and engineers, blockchain pioneers and robotics enthusiasts, shaping the future of IoT. So far, Robonomics has successfully established in Polkadot and Ethereum, has become ROS-compatible. The plans for 2021 include getting one of the first available parachain slots in the Kusama Network, launching Robobank for accepting any Polkadot token in automation services and many others.
Robonomics comprises 17 use cases. In 2016, the first drone was launched by sending a transaction through the Ethereum Blockchain. The concept soon transformed into Distributed Sky, managing a fleet of drones in a decentralized network. One of the most unusual cases is a robot-artist Gaka-Chu that has recently held its first NFT auction on Rarible. Find out more about the Robonomics use cases.
How does Robonomics Network work?
The idea behind the project is to integrate robots and cyber-physical systems directly into the human economy by using smart contracts. Having an established infrastructure on Ethereum and Polkadot, Robonomics allows engineers of smart cities and industry 4.0 zones to build trust among autonomous robots and provides people with direct access to them for ordering products and services.
Robonomics users can turn their IoT devices into autonomous economic agents. The robot gets a wallet address and thus the ability to receive payments for the work done or pay for the services of other agents with no humans or bank involved.
Robonomics uses blockchain technology to provide transparency and standardize the interaction between the network members. The developers can create open smart contacts for further usage in IoT & Robotics projects, while others may build their applications based on these public contracts.
What is a Robonomics Network (XRT) token?
XRT is a utility token of Robonomics. XRT acts as the fuel of the economy of robots, maintaining the decentralized robotics network and acting as the foundation of smart cities and IoT. The XRT token allows users to interact with the Ethereum Virtual Machine or the Polkadot Network, as well as the Robotics Operating System (ROS) and the AIRA OS.
The XRT token is the economic incentive for participants to support the network by verifying transactions (staking) and peer-to-peer communication between robots and humans, keeping it truly decentralized.
More information on the XRT tokenomics here.
What can Robonomics Network (XRT) tokens do?
XRT is a service token, which can be used by robotics and IoT devices to pay the transactional commission for communicating through Ethereum and Kusama.
- For the user services, it is possible to receive payments in any Kusama ecosystem tokens.
- The user pays for the robot’s service in payment tokens: it is not required to have ETH/KSM or the XRT token to get a service.
- The robot pays a commission to the Robonomics providers in XRT (Robonomics token)
- The provider takes over the costs for using the computer's Ethereum/Kusama, getting rewarded with the robot’s XRT commission and the XRT emission from the Robonomics network.
- XRT is used for staking and governance of the Robonomics parachain.
In the future, XRT will turn into the internal currency of the market for the contractual machine to machine / machine to human liabilities.
How to obtain Robonomics Network (XRT) tokens?
Robonomics offers a few ways to get its XRT tokens:
1. Buying them from such exchanges as Uniswap, Huobi and PancakeSwap.
2. Through POS on Kusama.
3. Participating in the community incentive program. Its goal is to provide developers, ambassadors and influencers with XRT for their contributions. The contributors are rewarded with tokens for research and development activities, like making a research project on Robonomics Network or video/ written overviews of the provided materials. To learn more about the Robonomics community incentive program visit our website: https://robonomics.network/blog/community-incentive-program/