By James Wells, Benzinga
The value of Bitcoin has been rising significantly, experiencing an increase of over 70% since the start of 2023. Alongside this, there have been notable industry developments, such as BlackRock's Spot BTC ETF filing and Ripple's (XRP) victory over the SEC. All of these factors suggest a promising future for altcoins heading into 2024.
Amidst these developments, decentralized exchanges (DEXs) have gained prominence, especially following the 2022 FTX collapse and several ensuing insolvencies. Swopblock, a new entrant in this critical crypto market sub-sector, is positioning itself as a pioneering player, aiming to emerge as the world’s first 100% decentralized cross-chain exchange platform.
The following article will explore the mechanics of Swopblock and its potential significance to investors who prioritize decentralization, the crypto industry's cornerstone principle.
What Is Swopblock?
Swopblock is an open-source, proof-of-relay (PoR) protocol facilitating peer-to-peer self-custodial cross-chain trading. Users transact directly from their wallets without giving their crypto keys or assets to intermediaries at any phase of trading.
Swopblock's protocol, notable for being fully decentralized, distributes 100% of its trading liquidity across all user wallets. Swopblock’s 'Liquidity Stream' powers the network, functioning as the exchange medium driving market volume.
SWOBL is the native asset of the Swopblock ecosystem. It serves as a free-flowing medium of exchange that provides the market volume equilibrium necessary for autonomous cross-blockchain trading between peers.
Unraveling The Utility Behind SWOBL
Swopblock is powered entirely by SWOBL, embodying 100% of the liquidity across user wallets. As SWOBL serves as a liquidity adapter for various blockchains like Ethereum and Bitcoin, its demand hinges on the trading volume in the Liquidity Stream.
As adoption escalates, SWOBL demand increases. This allows traders, investors and holders of SWOBL (including Swopblock) to potentially capitalize on these gains.
Swopblock Vs. Competitors
The crypto market's decentralized exchange (DEX) sector is heavily populated, with numerous DEXs operating independently on distinct blockchains. Despite the surge in DEX popularity following the 2022 FTX collapse, complete decentralization remains elusive for cross-blockchain DEXs.
Here are several reasons why these DEXs fall short of achieving complete decentralization:
Centralized Elements: Liquidity pools, bridges, and pipes in decentralized structures always require management by a centralized authority.
Liquidity Ownership: Providers of liquidity (whether distributed or not) are in fact intermediary custodians themselves, contradicting the very principles of decentralization.
Single Failure Points: Concentrated liquidity in pools and bridges can lead to potential single points of failure, causing significant losses if compromised (hacks, bugs, etc.).
Swopblock sets itself apart from competitors such as THORChain (RUNE) and Uniswap (UNI) by offering total decentralization with cross-chain capability. This is achieved by Swopblock's protocol driven medium of exchange, distributing 100% of this trading liquidity across all user wallets, thus eliminating single-points of custodial-control failure and mitigating hacking risks commonly associated with liquidity pools and bridges.
Seizing The Market Opportunity: The Promising Outlook Of Swopblock
According to Grand View Research, the U.S. crypto exchange platform market, valued at $7.8 billion in 2021, is projected to rise at a CAGR of 28.3%.
Despite the continued prevalence of Centralized Exchanges (CEXs), DEXs have witnessed a surge in popularity following several bankruptcies and unethical practices in the centralized space. As a result, as crypto adoption continues to increase, user demand for a secure and decentralized exchange medium will also increase. Swopblock is positioned to capture this demand, given its unique value proposition of 100% distributed liquidity powering cross-chain exchange.
Early Investor Benefits: Exclusive Perks For Visionary Backers
Currently, Swopblock is raising capital for its protocol's official launch, providing early investors with additional SWOBL in four phases according to their investment amount and timing.
At the time of writing, over 18 million SWOBL Perks from Swopblock’s fixed supply of 52.8 million has been distributed to early investors. Early exposure to this protocol might be a lucrative decision for interested investors who believe in the future of Swopblock’s superior technology.
Embracing The Future With Swopblock?
Overall, Swopblock appears to offer immense potential in the expanding crypto sphere. With its decentralized cross-chain protocol and 100% distributed liquidity, it sets a new standard in the DEX sector, ensuring the native chain security of self-custody. As crypto adoption increases, Swopblock’s unique decentralized approach could capitalize on the demand.
This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.
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