What is Algochain and how are we different? Get to know the platform and the idea behind the company.
2017 may have been the year of the Bitcoin, but the real cryptocurrency revolution is just beginning. We’re entering an age where high-frequency crypto-trading is going to become more popular than ever. However, this leads to one major issue: high-frequency trading is so complicated that cannot be monitored with a human eye. That’s why we developed the Algochain platform based on the algo-trade system.
What is Algo-Trading?
For all of those who don’t know what algo-trading is, it’s an algorithm that does the trading and all the hard work for you (thus the term ‘algo-trade’).
The initial reasoning behind this is this: The stock-market operates 24/7, but humans are obviously not able to work or even be awake at all hours, which can be problematic since the market never sleeps! To make sure that stocks will be under constant surveillance, an algorithm was created to do the work for humans, in order to buy and sell automatically based on the established algorithmic strategy. Additionally, the majority of people are not to predict the rise and fall of stocks, so algorithmic trading has grown as an interest as a method of when to automatically buy or sell. Wall-street doesn’t like to speak about it, but Algo-trading dominates the current traditional finance institutions.
What we’ve done is take the algo-trade system and implement it to cryptocurrencies.
How does Algochain Platform Work?
Algochain is comprised of an elite community of cryptocurrency traders that can register their algorithm for cryptocurrency trading on the algotrade blockchain. This essentially provides two major benefits. The first is that creating a trading strategy (and one that works), is one of the most crucial aspects in order to be successful in the crypto industry. It’s important to understand what type of trading strategy is best for your outcome. so that other people can join others strategies, without knowing much information other than it’s a successful strategy, and to top it off everyone will earn a piece of the profit.
The second reason for this strategy is the market place. In here a third party developers can create a software that will interact closely with the algorithmic strategy in order to know when exactly to be buying or selling a specific token. By combining these two strategies is what creates the environment of algo-trading.
The Algochain system essentially works by letting the machines do all the thinking and hard work for us. Through our system, registered users are able to track what we call the ACT, Algorithm for Cryptocurrency Trading, (including all of the buying and selling) that’s happening on leading cryptocurrency exchanges. Users are also able to maintain scores in order to benchmark their ACT’s trading performance against others. The platform will provide access to improve algorithms and even allowing users to offer their own services for other users. There will never be a time that users won’t know what’s going on with exchanges or platforms. Not only that, but the algorithm monitors the prices and will notify the best time to buy or sell tokens.
In addition, we intend to create a hybrid system that includes both private and public platforms. Why is this? Because we want whomever is creating a sucessfull algorithm to be able to share it with others in a way that will enable the community to gain more cryptocurrency (and share it with you), by using your strategy. Of course, the strategy itself will always be kept confidential. Essentially - you can gain more money by letting others use your strategy, without revealing the details of what that strategy actually is.
Being on top of the news, and all the changes that are happening with each and every tokens available, and of course knowing when to create profit can be a very challenging job that us humans are not able to complete to our fullest potential, and that’s what Algotrade is trying to change.
Interested to be a part of our community? Join our Telegram group at: https://t.me/joinchat/FPrt8xDyK4vIxFraMBTe6g
