Robonomics Network XRT Price

What is Robonomics Network (XRT)?

Exploring Robonomics Network: Bridging the Gap between IoT and Blockchain

Robonomics Network, founded in 2015 by Sergey Lonshako, is a groundbreaking open-source platform designed to revolutionize the Internet of Things (IoT) landscape. Through the implementation of blockchain technology, particularly on the Ethereum network, Robonomics aims to facilitate direct communication between robots, humans, and IoT devices. This article delves into the objectives and features of Robonomics, shedding light on its role in advancing Smart Cities and Industry 4.0.

Robonomics Objectives:

IoT Device Management with a Decentralized Cloud:

Robonomics leverages blockchain networks to ensure the highest level of security for IoT devices. By utilizing decentralized cloud solutions, the platform allows for the secure launch and telemetry reception of devices. The digital twin, representing the state of the device, is stored in the blockchain network, providing global availability of providers and robust protection against unwanted changes.

Techno-Economic Transactions between Humans and Machines:

The platform envisions seamless access for automated systems to digital markets through cryptocurrencies and smart contracts. By integrating economic tools, such as those found in Ethereum, into the IoT ecosystem, Robonomics strives to enhance efficiency in terms of payments and service terms, making them inseparable from the device's launch parameters.

Serverless IoT Applications for Users:

Robonomics addresses the privacy concerns of modern applications by utilizing web3 advancements. Users can access telemetry and control devices without the need for authentication or connection to specific servers. This approach ensures a more private and secure user experience in the IoT ecosystem.

XRT Utility Token:

Robonomics introduces the XRT utility token to control IoT devices on the Ethereum network and the Robonomics parachain in the Polkadot ecosystem. The token's primary purpose is to support the decentralized network for maintaining Smart Cities and Industry 4.0 within the blockchain infrastructure.

XRT in Ethereum:

Originally implemented in 2015-2018, Robonomics utilized Ethereum to reward providers for gas fees related to the launch of IoT devices. The team introduced a mechanism for mining new tokens to compensate for each created robot-as-a-service smart contract. This model remains viable for the future but requires significant improvements in Ethereum.

XRT in Robonomics Parachain:

In the Robonomics parachain, XRT plays a crucial role in supporting slot renewal and rewarding stakeholders. The burning mechanism associated with IoT subscriptions is designed to minimize inflation, ensuring sustainability and increased interest.

Usage and Rewards:

XRT can be utilized to pay fees for transactions on the parachain or to purchase IoT subscriptions, providing priority processing of device or user transactions. The parachain issues a small amount of XRT throughout the year to incentivize collators, with the total reward being determined by on-chain voting of token holders.

Robonomics Network stands at the forefront of IoT and blockchain integration, offering a decentralized and secure platform for the exchange of technical and economic information. With its ambitious objectives and the utility of the XRT token, Robonomics is poised to contribute significantly to the advancement of Smart Cities and Industry 4.0 in the rapidly evolving digital landscape.

What is unique about Robonomics Network (XRT)?

Robonomics Network distinguishes itself by enabling direct robot-to-robot and robot-to-human communication through a marketplace of robot liability contracts, fostering secure IoT applications and economic transactions using web3 technologies like IPFS, Ethereum, and Polkadot.

Who are the founders of Robonomics Network (XRT)?

Robonomics Network was founded in 2015 by Sergey Lonshako, envisioning a decentralized platform for IoT applications, emphasizing atomic transactions between user applications, IoT services, and complex robotics.

Where can I buy Robonomics Network (XRT)?

 Kraken, Uniswap V2 (Ethereum)