Korbot

What is Korbot

There are over 2,000 cryptocurrencies actively traded. Since Bitcoin was first introduced in 2009, market awareness of cryptocurrencies as a new tradable asset class has grown exponentially. The market capitalization of such digital currencies has top $300 billion. Currently the global cryptocurrency market is overly influenced by large investors (whales) and groups of speculators. Their financial resources, trading systems and models have given them market power and in certain circumstances allowed them to manipulate market price e.g., spoofing, flooding the market with false orders as well as pump and dump’ schemes. Bitcoin Price Manipulation Probe Launched By Justice ... - Bloomberg . Such illegal trading practices have also increased daily price volatility and has discouraged many traditional investors from participating and making direct investments.

To reduce risk, investors have begun to prefer automatic trading bots void of emotion over direct investments. In this market, small retail investors remain disadvantaged, currently there are no retail bots that properly fit the market’s growing need, for they lack evidence of profit and scalability. On the cost side, developing a bot can be expensive and once developed they tend to be used in a private, preparatory manner. For a bot developer, receiving payment by a thirdparty user can be challenging which is a further barrier to expanding retail bot usage. As a solution, the Korbot Platform will enable anyone around the world to utilize the bots by providing a platform that applies smart contract system to automatic trading bots.

The Korbot Platform is a distributed algorithmic trading platform built on the blockchain and smart contracts. The platform is composed of three stages: 1) WhaleSlayer (WS), 2) Bot Trading Service (BTS), and KBOT Store. WS is a certified bot with a long history from studying five years of market data through AWS (Amazon Web Service) machine learning. WS has an automated profit allocation system that uses smart contracts and an encrypted transaction history. BTS is a useful bot management system for bot users, where they may directly control their bots and add more analysis tools for optimal investment. KBOT Store is where both bot developers and users can sell, purchase, and review bots including WS. An integrated API and B-Code (open source code for bot development) are provided to enable anyone to create and sell bots. Korbot will start off by using Ethereum Main Network partially before moving onto Korbot Main Network and become self-administered.