Cryptobots, that is, various automated systems that independently interact with users and work from the blockchain, have many differences compared to their “colleagues” from other areas of business. The very essence of helping people perform certain operations does not change. As for the rest, completely different technologies are used here, specific integrations and checks are required, which are responsible for the security of users and their assets. Previously, we touched on this topic in the article “How cryptobots from BeFund will help your business?” our blog. Now we want to talk in more detail about a specific cryptobot created by BeFund specialists for the needs of one of our customers from Dubai, UAE. Not everything can be talked about, as it is a commercial secret, but the general essence of the created software will be clear.
The basis of the backend
Object-oriented programming languages such as C#, Java, Ruby, Perl, PHP, Swift, Python, and others are best suited for bot development. In this case, the BeFund company always prefers Python, because over a long period of work, we have gathered a team of professional developers in this language, who are able to perform tasks of any complexity. This programming language is known for its reliability, and Python projects are easily scalable.
Clients often ask us about the specifications of the server that hosts their custom software. In fact, a cryptobot doesn’t require hugely powerful servers like, say, video game projects or even CRM systems. However, we can say with confidence that less than 1 GB of RAM cannot be planned. In the current project, the customer rented an Amazon server with 4 GB of RAM and a 1 TB SSD drive – this is enough to service an average of 10,000 users per day. As for permanent memory, at the beginning its volume is also significantly overestimated. However, we thought about the future, because the bot provides local storage, which will certainly grow over time.
Blockchain operations
The most interesting thing to talk about when considering the cryptobot case is the interaction with the blockchain. Maintaining your own Node of the blockchain you want to work with will be a significant advantage. This will immediately save you from a whole list of problems and complications, and most importantly, the need to pay a gas commission for transactions. However, the flip side of the coin is the cost of the node — about $10K every month. So if the costs are not financially feasible, you can always rent the services of third-party services, which costs more than a hundred times less.
That’s exactly what we did this time and created an integration with Crypto APIs. This service allows you to perform transactions with a large number of different blockchains. From a practical point of view, this makes it possible for the bot to create custom wallets for many cryptocurrencies and freely perform asset conversions. The absolute advantage of using a third-party service is the reduction of the total cost of the project: developers receive a ready-made set of capabilities that they implement according to the needs of the client. Otherwise, absolutely every cryptocurrency is a separate and voluminous array of code. And even that is not all, because mechanisms for the interaction of these arrays with each other will be needed in the future. However, the disadvantage in this case is the limitation of ready-made solutions. Currently, our solution, at the request of the client, also operates with the USDT token on the Ethereum and Tron networks. So if your future bot needs to work with specific cryptocurrencies or tokens, custom development cannot be avoided. Fortunately, BeFund specialists can complete any task.
Checking “dirty” wallets
It is known that the anonymous world of blockchain is a haven for many not-so-honest actors who will do anything to get hold of your money. Unfortunately, this feature of the technology cannot be turned off or bypassed, but evil intentions can be resisted. Anti-money laundering (AML) checks are designed to identify unreliable wallets, prevent transactions with unwanted users, and protect the good guys and girls from the bad guys. Developing your own AML is a hopeless business, because it is such a complex and voluminous functionality that its creation will exceed the entire project budget several dozen times. However, it is possible and absolutely necessary to create an integration with a third-party AML, otherwise no one will need your bot.
Involving verifications is quite expensive and charges its own fee for verifying each individual wallet. Each such action is worth $1, which is automatically included in the total commission check. However, users of our bot can independently check any arbitrary wallets at any time. All you need to do is enter the desired id and click the “check” button: a commission dollar will be debited from your account, but you will definitely know how “dirty” the wallet is in front of you.
Integrations with cryptocurrency exchanges
Integration with a cryptocurrency exchange is an extremely necessary and popular tool without which no project can achieve the desired success. In this case, the exchange is a third-party service, so integration is possible with any platform that has an open API. In our project, Binance is considered a promising exchange, which is by right the most famous crypto exchange in the world. Another integration is developed for the crypto exchange Huobi. Currently, no other integrations are needed, but if necessary, you can create an almost unlimited number of them.
Commission fee
You know what’s most satisfying when you develop your own product? You can independently determine the size of the commission and the terms of its collection. In fact, this is a rather individual issue for each project: a fixed amount or percentage, a fee for the assets deposited, the transaction carried out or the funds withdrawn, and others. Here, customers are driven by a unique sales offer and their own ideas about commission payments. The main thing is that BeFund developers can create any conditions under which you will receive your profit. In our case, the rules were extremely extensive and within one project all options for charging the commission occurred. However, it should be noted that the cost of all payments for the first year remains lower than that of competitors – a common marketing ploy to attract a wider range of customers.
Interface
Finally, about the channel of interaction with users. Although WhatsApp and Messenger, which work with bots, are widely distributed in the world, customers chose Telegram for the most important reason — only this service preserves the user’s anonymity. In other cases, there is a mandatory link to a phone number or social network account. Telegram does not require strict verification and will not share the user’s personal data without his consent. Since the blockchain assumes anonymity, it is Telegram that fully corresponds to these ideals. And for developers, it is also a perfect platform for implementing a huge number of tools and using the convenient and functional Telegram Bot API.
So, in the end, we can highlight the main theses regarding the creation of a specific cryptobot:
- It is not necessary to own expensive equipment and software to use the full potential of bots and blockchain — you can use third-party services for an economically justified fee;
- Anything can be integrated if there is an open and accessible API;
- Custom development in Python is able to solve all possible problems;
- Checking the purity of money is important and necessary;
- Telegram is ideal as a bot interface;
- BeFund will help you create your own high-tech solution.
