Blockchain
New Swingby Network SkyPools Swap-Bridge Hybrid Goes Live
Singapore City, Singapore–(Newsfile Corp. – March 28, 2022) – Swingby Network has launched the Skypools Bitcoin-ETH swap-bridge hybrid live for public use. The Skypools swap-bridge allows traders to easily swap between BTC and the Ethereum network coins which are built, deployed and traded on the ERC20 blockchain environment.
Swingby network users were already using the Skybridge protocol, which is the fundamental development of the network. Until now Skybridge has enabled Swingby network users to swap between forms of Bitcoin and wrapped Bitcoin, specifically WBTC on the EVM network, an ethereum-based version of Bitcoin, and the Binance-pegged BTCB coin as another form of Bitcoin. Now Skypools builds upon this to enable the seamless trading of these different forms of Bitcoin interchangeably with ERC20 network cryptocurrency tokens.
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What makes Swingby network different from other swaps
The Swingby network is a truly decentralized system through and through. Swingby works by connecting platform users who wish to swap, with the liquidity reflected real-time on large AMM aggregators such as the Balancer and Sushi DeFi networks. Users never lose custody of their tokens, as no third-parties requiring such are ever included in the process.
The uniqueness of alternate forms of BTC and many listed ERC20 network coins being interchangeably tradable is big enough news in and of itself. BTC and ERC20 will be able to be swapped across blockchain networks at an extremely low cost and almost no price fluctuations across platforms. The Skypools concept was an organic idea that is currently coming into full bloom, almost ready for its public release.
Swingby network’s Skypools platform could be a model for the future
One certain motivation for fundamental development work done to build the first version of the Swingby network cross-chain BTC swap was the belief that Bitcoin and then other digital currencies like ETH, would soon be used in broader financial applications. The idea is that as banks, financial institutions, corporations and even governments begin to rely on the Bitcoin and Ethereum networks to send and receive digital payments, there will be the need for networks in place which allow seamless transfer across different blockchain networks. Skypools represents such a network, also having the potential to scale as the power of the blockchain network organically expands.
Most cryptocurrency traders already comprehend that while Bitcoin is obviously always Bitcoin, in order to send BTC from one blockchain network to another it has to go through a cross-chain swap. The transfer is performed on the back end by converting the currency from a cryptocurrency coin on one digital channel to an entirely different blockchain. The technology required for cross-chain swap capability to proceed forward is included in the complex Skypools stack protocol development. Nodes on the Swingby network are independent validators and offer heightened security measures. Nodes need to agree, or reach consensus on the independent validation done by each node individually before proceeding forward with a proposed transaction presented along the chain.
Next steps for Skypools swap-bridge
The latest news prior to launch of Skypools had been news of Skybridge transitioning from a team-run DeFi project to a DAO, community-directed project. In a DAO system the community decides in many ways, how the project moves forward. The structure is held up by votes, as token holders have the ability to influence project direction collectively according to varying metrics such as percentage of the token supply held.
The launch of Skypools signifies the next step for the Swingby network which set out with this vision initially over 3 years ago and can now see what was only thought about at first, now come into fruition after years of intense work and development. The DAO project Swingby takes the fundamental tech platform Skybridge a step forward into a hybrid, multi-functional cross-chain swap-bridge connecting global users to swap between BTC, wrapped and unwrapped forms, and ERC20 network coins. New users are anticipated to learn about the existence of a BTC-WBTC-BTCB-ERC20 cross-chain swap-bridge hybrid and begin using it to benefit from the seamless swapping. Skybridge’s latest news and information can be followed through social media and telegram channels.
Twitter: https://swingby.network/twitter
Telegram: https://swingby.network/telegram
Media Contact:
Brendan Brown
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118432
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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