The global adoption of cryptocurrencies has resulted in the creation of many crypto-related services meant to create wealth and convenience for crypto users.
The influx of new users and the increasing prices of Ethereum’s fees have led to the recent creation of competing smart contract blockchains launched by leading exchanges like Binance and Huobi, which are currently rivaling Ethereum’s crown.
Now more than ever, as more blockchains gain in prevalence, the industry is in need of easy-to-use tools to exchange value across blockchains.
One of these tools is SWFT Blockchain. Known for its cross-chain swaps, SWFT Blockchain has been building solutions with the purpose of making the exchange of value across cryptocurrencies and blockchains as effortless as possible since 2017. As of today, the team has built on its founding swap protocol and its product now provides a wide range of crypto services. While a veteran player, SWFT Blockchain has recently been considered a“rising star” in the crypto community due to the price performance of its token SwftCoin (SWFTC)
So what exactly does the platform offer, and what makes the platform stand out among other crypto platforms? SWFT Blockchain was launched in 2017 by Alex Witt and Ramble Lan. This cross-chain platform provides users with numerous services on top of its patent-pending cross-chain swaps. Some of these services include facilitation of payments using different cryptocurrencies, crypto red packets, staking, lending, and advanced crypto trading aggregators.
The digital token that powers SWFT Blockchain is the SwftCoin (SWFTC) token. This token is currently ranked 665 on coingecko.com. Similarly, SwftCoin has a market cap of $29,430,357. According to coinmarketcap.com, the current price for the SwftCoin is $0.006384.
In a bid to finance SWFT Blockchain project, a private token sale of the SWFTC was organized from August 2017 to January 2018. This token sale generated well over 15 million dollars, funds that are being put to use to grow and maintain the project.
When it comes to cross-chain swaps, its bread and butter, SWFT Blockchain offers direct swaps between over 250 currencies at competitive rates and with low fees of only 0.2%. In fact, holders of the SWFTC token receive a 50% discount on swap fees, which leaves the fee at a market-beating 0.1%. Similarly, there are a host of other discounts available to users on other services hosted by SWFT Blockchain.
In order to reach this rising star status, SWFT Blockchain has made considerable progress in four areas of growth.
At the time of its inception, the platform could only be used to swap for a dozen digital assets. Some of these digital assets include popular tokens like Ethereum, Dogecoin, Ripple, Ripple, and Bitcoin.
However, with the launch of SWFT Blockchain’s 2.0 update in 2018, there has been a significant increase in the number of digital assets supported by this platform. Over 70 updates later, SWFT Blockchain’s protocol now supports swap services for over 250 crypto assets across dozens of blockchains. A testament to the SWFT Blockchain team’s efficiency, SWFT Blockchain recently introduced support for more than ten digital assets on Binance Smart Chain The recent update means that users can swap to and pay with assets like BUSD, CAKE, ETH, BNB, and more. As a result, SWFT Blockchain is now featured as a part of the Binance Smart Chain Ecosystem.
Wallet infrastructure has been another area of growth for SWFT Blockchain. A recent update has introduced noncustodial storage options for SWFT Blockchain’s wallet users, with connection to DeFi Dapps via WalletConnect. Available now for Ethereum and Binance Smart Chain (BSC) assets, the team looks to introduce support for more blockchains this year.
The team has not swapped at swaps and wallet support. A third main area of growth has focused on developing payment solutions for the crypto market. SWFT Blockchain’s payment feature, SWFT Pay helps its users send, request, and receive instant payments using different types of digital assets using a link.This feature is especially helpful for payments in which users may not know or may not want somebody to know their wallet address. .
The fourth and last area of growth for SWFT Blockchain may be the most important for its future. Throughout the years more and more wallets like TokenPocket, Ellipal, HuobiWallet and more have integrated SWFT Blockchain’s swaps into their platforms. With the arrival of the multi-blockchain era brought on by BSC and Huobi Eco chain (HECO), it only makes sense that more wallets would follow suit.
Having gotten more insight into SWFT Blockchain’s past, present, and future, the benefits attached to SWFT Blockchain’s platform are clear and the recent price performance seems inevitable in retrospect. For current investors hodling SwftCoin however, the future seems bright irrespective of the current trading price.