Imagine Joining All Cryptocurrency Networks Into A Super-Network That Is Cross-Chain And Protocol-Driven — Swopblock Is Doing Just That | News Direct

Imagine Joining All Cryptocurrency Networks Into A Super-Network That Is Cross-Chain And Protocol-Driven — Swopblock Is Doing Just That

News release by Benzinga

facebook icon linkedin icon twitter icon pinterest icon email icon Detroit, Michigan | August 22, 2023 09:25 AM Eastern Daylight Time

 

By James Wells, Benzinga

 Learn more about and invest in SwopBlock via Wefunder 

In an ideal scenario, all cryptocurrency blockchains would be interconnected, providing users with a seamless experience across chains and apps. Yet, interoperability still remains a significant challenge.

Emerging technologies aim to interlink blockchains and streamline asset and information movement. Swopblock, a cross-chain trading protocol, is at the forefront, aspiring to be the most decentralized medium of cross-chain trading.

The following article will explore how Swopblock aims to consolidate liquidity within the decentralized exchange (DEX) world in an entirely decentralized fashion.

Decentralized DEXs: Confronting Current Limitations And Siloed Blockchains

DeFi Llama reports over 200 different blockchain networks, with Ethereum, Tron, and Binance Smart Chain commanding over 75% of the market. Despite progress in interoperability, these blockchains mainly operate separately, leading to talent and resources focusing on competing networks instead of a unified system.

The siloed nature of blockchains is primarily problematic for end-users, as cross-chain trading proves challenging. This is due to most DEXs' lack of multi-chain support, absent of access to various altcoin swaps. For instance, Uniswap, the leading DEX by trading volume, only supports 7 EVM-compatible networks.

Hence, more users are opting for cross-chain exchanges to simplify asset transfers and navigation across chains. However, these exchanges address the interoperability problem by pooling liquidity across multiple blockchains which exposes user's assets to external hacking and internal theft.

Swopblock: Unleashing A New Era In Cross-Chain Trading

Swopblock, an open-source, proof-of-relay (PoR) protocol, allows peer-to-peer, self-custodial, cross-chain trading. It lets users transact directly from their wallets without giving their crypto keys to any intermediary. Unlike native blockchain-restricted DEXs, Swopblock enables both retail users and institutions to seamlessly transfer assets, including Ethereum, Bitcoin and more.

The Swopblock protocol is powered by its Liquidity Stream, the underlying infrastructure that channels market volume. SWOBL, the native asset of the protocol, serves as a free-flowing medium of exchange that provides 100% of the market volume necessary for autonomous cross-blockchain trading between peers.

A New Era Of Infrastructure: Swopblock's Impact

While other decentralized cross-chain exchanges like THORChain, Open Ocean, and RocketX exist, Swopblock revolutionizes the industry through total decentralization. This is realized by ensuring 100% liquidity distribution across all user wallets.

Such distribution reduces the hacking risks associated with liquidity pools, bridges and pipes, as they often hold significant cash, making them prone to exploits and attacks. In 2022 alone, over $2.8 billion of crypto was lost due to hacks and exploits, with crowd looting and bridge exploits being common examples.

The Utility Of SWOBL

In addition to complete decentralization, 100% liquidity distribution across all user wallets allows for equitable value accrual across the entire ecosystem. As trading volume rises, so does SWOBL demand, benefiting all users, traders, or investors who hold SWOBL.

Swopblock is currently raising funds for its official launch, rewarding early investors with additional SWOBL in four phases based on their investment size and timing. Early exposure could be a profitable choice for investors who believe in the future of Swopblock's superior technology.

Looking Ahead: Exploring The Future Of DEXs With Swopblock

Swopblock is a powerful solution to the existing limitations of the DEX landscape. It proposes a fully decentralized, self-custodial, cross-chain trading method that helps users autonomously navigate blockchain networks. As crypto adoption grows, Swopblock's unique decentralized strategy could leverage this demand.

 Learn more about and invest in SwopBlock via Wefunder 

 

This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.

 

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