Swingby (SWINGBY) Price

What is Swingby?

Swingby's Skybridge is a decentralized bridging protocol aimed at enabling seamless cross-chain transfers of crypto assets. Launched on December 28, 2020, it builds a bridge between Bitcoin and Ethereum initially, using Wrapped Bitcoin (WBTC) as a connector. It employs a layer-2 proof-of-stake (PoS) consensus system and peer-to-peer network to enable swaps between various blockchains.

Unique Features

Decentralized Token Bridges

Skybridge uses clusters of nodes to create decentralized wallets, facilitating cross-chain token swaps without the need for a central custodian.

Modern Cryptography

Unlike traditional multi-signature or Hash Time-Lock Contracts (HTLCs) methods, Swingby uses cutting-edge threshold signature (TSS) cryptography and multi-party computation (MPC) to keep the process simple yet secure.

Ease of Use

Completing a swap is as straightforward as transferring assets to a specific address, without the requirement for any specialized wallet application.

DeFi and Cross-Chain Ecosystem

Swingby addresses gaps in the decentralized finance (DeFi) ecosystem by enabling easier asset movement across different blockchain networks.