We are building an insights and arbitrage tool for cryptocurrencies
As human beings spend more time in the digital world, people increasingly find common value in digital interactions. Activities such as online marketing, gaming, and digital content generation are interactions that deliver some representation of value to digital users.
Now, with the advent of blockchain technology and cryptography, digital value can be constructed into digital assets of scarcity, such as Bitcoin.
A key development in this industry is Facebook’s recent announcement of Libra — an asset-based stablecoin cryptocurrency. With global heavyweight partners such as Andreessen Horowitz, Visa, Paypal and more, Libra is designed for users to buy things or send money to people across borders and continents, with nearly zero fees. Facebook released the whitepaper on Tuesday explaining Libra and a testnet for working out the kinks of Libra’s Blockchain before a public launch in the first half of 2020.
Why is this important? There are approximately 36 million cryptocurrency wallets globally, not counting single users with multiple wallets. Whereas even if we discount other Libra partners, Facebook alone has 2.2 Billion users from Facebook, Instagram and WhatsApp. So far as the new and tech-savvy generation continues to populate digital usage, it is likely that digital assets will mature into mass adoption one day.
However, all of these are still very early today. The existing cryptocurrency market is filled with noise, opacity, misinformation, and even scams, which can be hugely misleading for any person new to the industry. Furthermore, individuals may find it uneasy to obtain useful insights and data when uncertified information are scattered across the web today.
This is where Roostoo aspires to serve the public and interested individuals who are involved in digital assets — by unleashing real-time blockchain, cryptocurrency, and market data insights to benefit the future mass of digital asset users.
Our main product is a free mobile app that offers a clean user experience incorporating intuitive, convenient and actionable information. The Android Beta version is available online now.
- Real-time Arbitrage Data: Arbitrage is the price difference of the same token between different exchanges: such price discrepancy exists due to still inefficient and immature cryptocurrency markets. Roostoo constantly updates the arbitrage of each token every second, exposing real-time market inefficiencies. In-app also provides the trending graph of past 30-min arbitrage rates to further inform users on specific token-exchange pair movement.
- Global Token Insights: The App provides most updated insightful and objectively quantifiable metrics that help users analyze each public token through different angles. Metrics include Github development activities (e.g. commits, stars, forks, watchers, contributors), and crypto community indicators (e.g. Google search trends, Reddit users, Telegram members).
- Real-time Alerts: For users who want to be notified by sudden token price movements or substantial market price discrepancies, the app will also let users set up price alerts and notifications when there is significant market volatility.
Aside from the above, we are also expanding other features that will add value to our users. We believe useful information shall be clearer to everyone, hence we are offering a platform that provides real-time computable insights for the public.
With these metrics, Roostoo hopes to bring more clarity to the crypto market. By using Roostoo, retail investors will be able to more easily evaluate cryptocurrencies from a technical, fundamental and financial perspective.
We hope the application offers value to anyone interested in cryptocurrencies.
