The Swap.Online decentralized Atomic Swap cross-chain wallet released its mainnet version this September. Our team finalized the first ever Atomic Swaps in USDT and GUSD. By the way, the story is just beginning. Let us go through the progress we made last month together with our lead developer Nikita Dementiev.
Usability: On the Road to the Ideal Swap
First of all, we have added some useful features to our User Interface. After analyzing the feedback and the results of some hallway testing, we found that users, both experienced and newbies, are confused after seeing the full list of numerous tokens available for swaps. That is why the possibility of customization of the list of tokens has been implemented: the user is now able to hide any token in just one click.
We have also redesigned the swap (https://swap.online/exchange) page and made it really intuitive. Now users can place and take orders from one page, customize the exchange rate, chose the direction of the exchange and the currency from the dropdown list.
With regard to usability, we have upgraded the EOS storage and trading performance. Everyone knows that it is really difficult to get an account in this network. On Swap.Online, the user now is able to get the keys for EOS for only 0.01 BTC.
As our approach to token listing on Swap.Online is really over-the-counter, we have launched an active listing campaign. Today every valuable and promising project can add its token to our balances for free in a day or two. We ask for nothing but a mutual PR-agreement, which can help both the partners’ and Swap.Online communities to know about each other. For example, we reached agreements with truly fascinating teams — Knowchain, which is building a bridge between crypto and real-word assets, Aeron, which tokenizes the sector of flights safety, and Crowdholding, a blockchain-based startup which addresses the unlimited klondike of commercial feedback. Our developers have built a framework, which made ERC-20 token listing easier than ever before. Icon in .svg, ticker, smart-contract address — that’s it for the listing on Swap.Online. Moreover, the page of the swap with every ERC-20 token is followed by a brief review made by Swap.Online PR-specialists.
That’s how the added tokens look like in our core
The issues with top cryptocurrencies have also been addressed by our listing program. Recently, we added Bitcoin Cash (BCH), the fork of Bitcoin with the third capitalization rate in the world. Now Swap.Online users can exchange the product of Roger Ver for the BTC, ERC-20 and USDT for free.
Firstly, we have redesigned some details of the core of our exchange system. The new system of gas calculation now check the average gas fee in the Ethereum network and adds a little before the transaction is sent. This results in the fact that transaction speeds in Swap.Online are always above-average.
Secondly, the mechanism of secret extraction during the Atomic Swap has been reconsidered. Before the update, it was extracted from the ETH smart-contract. Now, we allowed it to be extracted directly from the transaction hash. It leads to an economy of time and resources.
Finally, we rescheduled the mechanism of users identification. Formerly, it was pegged to the peer-id in the IPFS network. Now, it correlates with ETH public address. We achieved this thanks to the economy of IPFS speed.
Today, we are working hard on new token listings and the upgrade of system stability. Also, some details of the interface may be simplified after the analysis of comprehensive feedback.
Stay tuned and do not miss our development updates!