The crypto market has been through many upheavals since the beginning of 2022. Also touted as the roughest ‘crypto winter,’ this year has been a wild ride for the enthusiasts and believers of the community. While crypto investments always came with a ‘volatility’ clause, 2022 welcomed the highest number of mishaps in the community.
The community has seen it all after some significant crypto projects collapsed, such as Terra Luna and now FTX.
However, there are some positive aspects to it as well. Despite all these challenges and bearish trends, some cryptos showed unmatched resilience and stood the test of a volatile market, stooping to new lows every other day.
The XRT cryptocurrency, for instance, is one of those few cryptocurrencies that has managed to survive this bearish run and thrive. As a result, the token has been a strong performer for most of the year and continues to present a positive market movement for its future.
But what exactly has held the token’s positive value so far? Or, why do people continue to believe in the XRT cryptocurrency? Let’s find out as we try to get a more insightful review of the XRT token and understand why people still have faith in this digital currency in the following sections.
Robonomics Network: A Concept That Revolutionizes Blockchain
Before making sense of the XRT crypto, you must first understand the crypto projects that use the token. Robonomics is one of those few crypto projects designed to help revolutionize people’s interaction with robots. The network integrates robots into the blockchain network and helps facilitate seamless transactions.
The platform has been around since 2017 and was created by a team of Russia-based developers, including Lonshakox, Krupenkin, Kapitonov, and Starostin. The primary goal behind creating the platform was to help people leverage the potential of the IoT (Internet of Things) technology and facilitate seamless communication.
The network leverages the smart contract mechanism and connects robots with blockchains. People use their XRT holdings to pay robots and leverage their competence until the expiration of the smart contract.
These robots can be anything from a complex AI ecosystem to a fleet of drones. This way, people in the real-world economy can use these robots for real-life applications and pay for the same with XRT holdings since XRT is the native token of the network.
Purpose Of Introducing XRT To The Niche Market
The XRT crypto is becoming an integral part of the Robonomics network with further expansion and development. Like every other crypto project, even Robonomics needs a native currency, which in this case is the XRT crypto, for facilitating and verifying transactions. This is important for the network since it helps maintain its trustworthiness, health, and decentralized nature.
Besides that, the XRT token also helps individual network participants interact with different IoT offerings of the network. You can consider the XRT crypto as the only fiat coin you can use in a vending machine. In this case, the IoT offerings are vending machines. The XRT crypto was first publicly traded on the 7th of October 2019.
So now that we have an insight into the fundamental that runs the project and power the token’s performance, let’s chalk out why investors and analysts continue to show their support for the token.
Reasons Why Investors & Analysts Are Positive About The XRT Crypto
Barring the reliability of the XRT price index, there are other reasons why even skeptics believe the XRT crypto in this volatile environment. But, more importantly, the network’s unique features and the crypto win over people’s faith. That said, let’s check out some of the unique features XRT crypto has to offer.
1. Open-Source Technology For IoT: One of the primary reasons why people tend to choose Robnomics over others is the open-source technology of the network. This unique feature of the network allows developers to control their data, create digital products, and sell them on the network.
Besides that, developers can even create new decentralized apps (DApps). These decentralized apps are developed on a distributed network based on the network’s rules without any central failure point.
2. Quantum Resistant Signature: Another great feature of the Robonomics network is it runs on a distributed network. This means every user on the network can run full nodes and verify transactions by themselves.
The data is then processed with a proof-of-work (PoW) mechanism called the Hashcash. You will still need to make a few changes to use it on the network. The first change would be to make the mining rewards much smaller.
3. Peer-to-Peer Transactions: The next best thing about the Robonomics network and XRT crypto is the peer-to-peer transaction mechanism. This means you can facilitate transactions within the network without needing third-party involvement.
But more importantly, this peer-to-peer transaction mechanism ensures your transactions remain safe and secure without any risk of theft, fraud, or even central point failure. In addition, this ensures that creators can retain ownership of their digital assets without loss.
4. Decentralized Domain Registry (CryptoNIC): The CryptoNIC project is another unique project from Robonomics that aims to create a decentralized Domain Name System. This system will allow users to register their distinct names and use them for digital products within the network.
5. Globalized Currency: One of the best things about the XRT token price is it will never succumb to any political pressure from any centralized authority. Most importantly, the XRT crypto is managed by millions of independent users worldwide, further ensuring unmatched decentralization. Another essential feature of this crypto is that no government or centralized authority can issue these currencies.
6. Applicable For All Projects: The open-source technology used in the Robonomics network is one of the best things in many ways. One of those ways is that developers can either integrate with other platforms or use them independently based on their requirements. In addition, the platform supports IoT agents, devices, and even distributed agents to use the XRT crypto right from the start.
7. Multi-Agent System Of Robonomics: Robonomics technology is designed to integrate different agents into a sphere of the economy where users can exchange their digital products by themselves.
Agents operating with each other with autonomy can do this without any hassle. However, this will be done in a complex environment where the agents involved will be subject to penalties, payments, and even rewards in response to the actions of other agents in the network.
XRT In The Long Run
Apart from its fundamentals, XRT’s price chart has been majorly bullish in the long term, making the token one of the market’s most reliable and trustworthy digital assets. Moreover, with the token indicating a potential to reach $5 shortly, the token is among the most stable assets amidst this volatile market.
So, if you plan to invest in crypto anytime soon, consider the XRP token. Besides, ensure you keep up with all the latest cryptocurrency news to keep up with all the developments in the market.