How it Works

Kirobo is offering a revised version of a crypto transaction structure. Beyond the existing variables like nonce, value, recipient, etc., it has added an ‘if-then’ validation and execution system that enables conditional transactions. The conditioning can also be multilayered so that a user can define several accumulative conditions on various protocols and several ways of execution - all in one transaction.

This transaction is essentially encrypted and thus not able to be executed on the blockchain upon transmission. The encryption, decryption and execution processes happen with the help of the Liquid Vault (see below).

Upon the creation of an ST and the signing of the transaction by the user, it’s moved to decentralised storage. Upon fulfilling the conditions, an external activator triggers the system, moving the FCT to an on-chain state and eventually executing the transaction.

Smart contracts require an external trigger to work when a condition is met. Kirobo itself could do this, but then the system wouldn’t be decentralized. So we use community activators. Any user can become an activator by holding a certain amount of KIRO (Kirobo’s native utility token) in their Liquid Vault.

When a user’s FCT requires activation, an activator will be invited to send the trigger transaction. If they do this, they’ll receive a reward. The reward comes from the users themselves - FCTs require an activation stake to become active. This stake will be transferred to the activator when they activate their FCT.