Nowdays, bots are used almost everywhere. We don’t even think about their essence and purpose, but simply use them for our own comfort, time saving and benefit. The very concept of “bot” refers to software that automates certain processes in the digital world. We can interact with bots like we would with normal people and it won’t affect the end result — the action we need to be performed. Since bots, like blockchain and WEB 3, belong to the world of IT, it is natural that all these concepts can work together for our good. Of course, this is possible with the help of developers who will create and configure the processes we need.
What can a bot do in blockchain?
Like any logical system, trading and other operations with cryptocurrencies are subject to certain rules. Of course, developers were the first to understand this, which means that they immediately began to look for methods of automating processes so that computer technology could perform work faster and better. One of the first to appear were trading bots — that is, software that follows the rate and imitates the broker’s behavior in accordance with stock exchange fluctuations. The task of such bots is primitively simple: to bring maximum benefit to their owners offline.
Trading on the cryptocurrency exchange, like on other exchanges, only remotely seems simple: in fact, there are many factors that affect the rate, and only experienced brokers can look several steps ahead or understand the reasons for noticeable fluctuations. Bot algorithms became increasingly sophisticated and used the best practices of real successful people. Over time, machine learning and artificial intelligence began to be used to teach programs. But while technologies are still in the formative stage, no bot created purely for successful trading can guarantee you 100% correct decisions in various situations.
But this is only when we are talking about a trading bot. There are many scenarios where software is needed not for automated buying and selling, but for mediation between the blockchain and the average user. Thanks to the API of various exchanges and services on the one hand and custom software on the other, it is possible to create effective solutions for trading, transfers, forecasts and resource allocation with favorable conditions for customers and guaranteed profit for bot owners.
Fields of application of bots
Today, almost every blockchain-related business is trying to first program its own bot that will interact with customers instead of the usual sales or customer service managers. And this is an extremely correct decision for many reasons:
- The bot directly exchanges information from the blockchain and has always up-to-date data;
- The bot performs all operations in a fraction of seconds, while a person needs much more time for this;
- The bot has a well-defined set of commands: the software will not do more than it is programmed to do, but it will also not enter into discussions with users;
- The bot works 24/7/365 with each individual user, does not require vacations, sick leave and other work breaks;
- The bot can perform complex calculations, operate on large sets of information and refer to various libraries.
These are only the main advantages of bots, which already make their use more economically justified than the work of ordinary people. But another question naturally arises: where can such bots work and how to create them? In fact, the bot can be hosted on any server, because it is, in fact, an ordinary standalone program, like millions of other applications on the Internet. However, today there are popular services that have a developed API for interaction between bots and users. One of these is Telegram, a multi-platform encrypted freemium cloud. This service, which has existed since 2013, has gained unprecedented recognition in the world and continues to gain popularity due to many reasons. From the point of view of the blockchain world, the main ones are:
- Anonymity — Telegram not only provides end-to-end encryption of all data, but also provides complete anonymity to users, which fits into the concept of blockchain and Web 3;
- Productivity – the service surpassed the main competitors WhatsApp and Facebook Messenger in terms of instant messaging speed and resistance to peak loads;
- Cryptocurrency — Telegram developers are focused on the comprehensive development of the blockchain, so they created their own cryptocurrency based on the TON (Telegram Open Network) blockchain. At the time of writing, 1 TON = $1.4.
In this way, the bot in Telegram can quickly perform an extremely large number of operations necessary for working with cryptocurrency. The popular Python language, which is also used for machine learning, is quite suitable for programming bots. Therefore, created bots can easily interact with users’ wallets, perform automatic operations, conduct a lively dialogue with customers, and, if necessary, learn and acquire their own unique experience. This makes it possible to use bots in almost any field of business.
How to order your own cryptobot from BeFund?
We value your ideas and strive to help bring the most daring ideas to life. The BeFund team has experience in creating bots using the Python language, machine learning, and integrating bots with various blockchain networks. Therefore, we can not only create bots, but also advise their owners on optimal use cases that improve overall performance and reduce gas commission costs.
If your goal is a trading bot, our specialists need a detailed technical specification with all trading rules. We believe you have your own trading vision and unique experience that will be passed on to the bot in the form of sophisticated machine algorithms. Our developers will “teach” the bot to work for you and bring profit. It should be noted that such development is protected by a non-disclosure agreement, so none of your competitors will learn about the specifics of your trade. BeFund guarantees confidentiality and preservation of your business secrets.
But if you want to develop a bot for customer service automation, we are ready to offer you many effective solutions and options on how to do it best. The development of such bots is more dynamic and, practically, every day, the customer sees changes in the project and can test them live. Bots in Telegram have a significant arsenal of abilities, and all the rest is the trouble of our developers. Thus, it is possible to implement any idea and functionality.
For the simplest example, we offer a test bot from BeFund, which will help you navigate the rates of popular cryptocurrencies. To get started, you should also have a Telegram account and start working with the bot using this link. Now, in just a few clicks, you can make simple settings yourself: choose a cryptocurrency and a time interval for notifications.
As you can see, everything is easy. Sophisticated bots are capable of much more, but in the end, all work comes down to using Telegram on a computer or gadget. So don’t delay and let’s discuss what exactly your bot will be.
