4th round of Bounty campaign is successfully completed!

Friends, thank you all for your participation and support, this is very important for us! Here is link that shows the number of tokens you earned for the last round! https://docs.google.com/spreadsheets/d/1IBz8a4DUWDAvfuNneANvu0ONAD6ilyOT6ukxWu07goA

See What You Can: How To Use Swap.Online

atomic swap exchange

Swap.Online is a revolutionary crypto over-the-counter marketplace delivering the services of the instant BTC ⇔ ERC-20 and ERC-20 ⇔ ERC-20 exchange. It is based on the principles of real decentralization as no component (e.g. plug-ins, orderbooks etc.) serves as the center or middleman. This story is about buyer and seller only: we don’t store your keys, coins or data. Our exchange uses the Atomic Swaps technology, so you don’t need to use special software or even somehow tune your browser.

 

Decentralization: mantra or solution?

 

Since the quantity of crypto frauds and thefts grew rapidly (see figure) as well as the damage caused by them, the decentralized exchanges or DEXs now seem to be the most significant trend in crypto world: the DEXs doesn’t store the users’ crypto. Inspired by that fact, some services use the terms of decentralization without being decentralized indeed. They position themselves as the ‘hybrid’, ‘semi-decentralized’, ‘demi-decentralized’, ‘with critical infrastructure centralized only’ etc. being still decentralized in general.

We dealt with the issue our way.

 

Swap.Online is fully decentralized without any single component stored on or operated by centralized means. Our swaps are conducted directly in browsers of traders with no keys or money send to us or stored via our technical capacities.

Also we are higher than bulk majority of DEXs in several respects: we support BTC, we stand for the KYC/AML neutrality, our deals are safer and faster because of IPFS and Atomic Swaps technologies implementation. Written on JavaScript, our core is able to be implemented even in projects without JS via the REST API.

So, it’s the time to see it for yourself.

We are proudly presenting the test swap between BTC and ETH with the conditional coins as the most interesting and useful feature of our testnet – https://testnet.swap.online/ . Don’t miss the chance to see rapid speed and splendid functionality of our service!

 

  1. Launch https://testnet.swap.online/ .
  2. In the “Wallet” pad, download the keys and make us sure you saved it in the safe place (see Figure below)

  1. Now you see some test coins on your BTC and ETH wallets.
  2. Then come to the “Orders” pad. Here we see some test orders. Press the button ‘>’’ in the ‘Actions’ column.for the order suitable for you.  Now you are ready to start the swap.

  1. Press “Confirm” to start the exchange.

  1. Then you need to wait for 90-120 seconds and press “Continue”.

  1. The most impatient of you are already able to check the pending of transaction via Etherscan by one click on the test transaction hash.

  1. Few seconds later you will have your last option to refund the money send (use ‘’Try refund” button).

  1. The swap is conducted, PROFIT!

Congratulations, you finished your first deal via Swap.Online and received your money.

More swaps – more profit. Come back to us!

Best regards,

Swap.Online Team.

Swap.Online Trading Bot Important Update

Rise of the Machines

Trading robots or bots came to cryptocurrencies world from the traditional stock trading. Invented in early 1990s, they opened new era in the sphere — the epoch of algorithmic trading. In 2006, almost 40 % of orders at the London Stock Exchange were opened by the automatic means. In 2009 this figure for the U.S. and the European Union exchanges was some 70 %. Shortly after the first global algorithmic trading fraud in 2010, the infamous Flash Crash resulted in S&P 500 9 % failure and $40M made by small trader Navinder Singh Sarao, the NASDAQ CEO Robert Griefeld concluded: “It is over. The trading that existed down the centuries has died. We have an electronic market today. It is the present. It is the future.”

Crypto trading, digital-based by nature, welcomed all sorts of trading bots from the very beginning. First well-known Bitcoin bot developer, Joseph Lee earned $150K in 2012–2013 on the simple arbitrage: his bot was browsing some exchanges and seeking the lowest price to buy and, then, the highest price to sell. At the same time, Mr. Lee lamented his programs for the low outcomes on the Bitcointalk: ‘few percent only’ was very poor result for him.

Now, the bots’ performance is far better. The most popular centralized exchanges e.g. Poloniex, Kraken etc. licensed their approved programs for algorithmic trading. There is no more need for browsing dozens of exchanges: experienced trader is able to set numerous parameters for automatically placed orders as well as for other traders’ orders analysis.

Trade With Us in a Modern and Safe Way: Swap.Online Trading Bot’s Main Features

We started our bot development in Summer, 2018. Head of Swap.Online R&D Development, Alex B (https://github.com/caffeinum/) with a dose of humility commented that important dev-update. “ Lately we published a REST API for swap.online exchange (https://github.com/caffeinum/swap.core/tree/master/server), and said that the trading logic for the API can be implemented in any of your favorite programming languages (JS, Python, Go, R etc).

As an illustration, I wrote a simple JavaScript bot. It works right in the console and forms a simple orderbook using the REST API.

Bot is something like an interface for interface. It has a simple set of commands doing everything REST API does, but also has its own features.

Bot basic functionality is duplicating REST API functions in a convenient console-line interface:

  • creating orders using one-line command
  • request any order
  • accept incoming request
  • start swap and watch its’ state
  • refund failed swap

However, the bot is more flexible. One can use the bot to fill the orderbook automatically and the bot includes fees into the prices. This is very convenient for marker makers. Later I will add the arbitrage, so that price synchronises with other exchanges, generating spread profits. Other exchanges are accessible via ccxt library https://github.com/ccxt/ccxt.

Also, bot can output a graphical representation of the orderbook state.

Using the bot, you can finish the swap in the couple of keyboard strokes. Print orderbook — request order — start swap — wait for swap finishing — done!

Bot is open source, as the whole code of our platform. Everyone can contribute and add new functions.

So, our team made one more great step to the full product release scheduled for the August, 2018. The trading on the unique crypto OTC marketplace will be profitable, easy and interesting.

Stay tuned!

Sincerely,

Swap.Online Team

How to add a token of your projecton on OTC Market Swap.Online for free!

Dear representatives of projects!

We are pleased to announce that Swap.Online is ready to list your token for free! But this is not the only good news, we have got more! Projects with more than 100 token holedrs (investors) will get free AirProp of SWAP tokens for them, so, they can test our system for free.

The only condition for adding your token to our OTC Market is cross-marketing and PR.

  1. You fill in a simple Listing Application Form (link).
  2. We add your project to the OTC Market Swap Online balance sheets and test the deposit / withdraw of the tokens.
  3. We launch cross-marketing: we talk about you, you talk about us.
  4. We check Atomic Swap compatibility of your token with ETH, BTC and EOS.
  5. After all the successful checks and improvements, we connect your token to a full swap.

For listing contact Daria Purtova, manager of listing.

About Swap Online

Swap Online – Crypto-currency OTC market.

We hearts IPFS, JavaScript and ⚡ Lightning Network.
Check out our project brief (url).

Main

Swap.Online is implemented on JS. Every process pertaining to transactions and transfers is done in a browser and nothing is implemented on servers. It even works in a mobile browser.

Swap.Online is built on the “Swap.Online DEP” protocol, which allows secure cross blockchain exchange anywhere on any device supporting JS protocols.

«Swap.Online DEP» is a multi-blockchain protocol. It even works with Bitcoin using Bitcoin P2SH-contracts;

Supports most cryptocurrencies and tokens. Swap.Online DEP is able to work with a majority of cryptocurrencies, except for those that do not have a script language. But even for those currencies (eg. Monero) there may be a solution (multisig for Monero).

Resilience. The exchange is built directly in the blockchain and does not depend on centralized services, their capabilities, domains or dns-services.

Immediate deal. The trade is concluded with the first mined block, or approximately within 30 seconds, and no one can change that.

Works in a mobile browser. No application or client installation, no plugins, as everything works in a browser on JS and nothing is based on servers.

Trading with “Swap.Online DEP” is made faster than usual trading with cryptocurrency exchanges by refraining from to third parties, resulting in a significant increase in speed.

Currently supported ETH <> BTC <> ERC20.
Monero, Litecoin, Tether, Nimiq to be supported soon.

Notification for all participants of the 3rd round of Bounty-campaign

According to Bounty rules and conditions “Any fake, inactive or bot accounts won’t be accepted”.
image
Источник изображения: https://bitcointalk.org/index.php?topic=3914826.0

We did research of Bounty hunters and found out the fact, that all participants of the second week of Bounty campaign were doing their task using Twitter accounts, which are created only for Bounty. The point is that there is no useful or real info except tweets and retweets about other Bounty campaigns.

image

As the aim of Bounty is attracting real users to the project Swap.Online, first of all we are interested in Bounty hunters who participate with real accs, that have got real subscribers who post real content time from time, except information about our or other Bounty. The remuneration in the number of 5k tokens is for them (for real accs).

Unfortunately, we can not pay tokens to fake and real accs equally. So, at this week we will pay to fake, only bounty oriented accs, 10 times less tokens. The same action is planned for further weeks. Real acc gets 10x tokens compared to fake one.

We remind you, that we are always open to bounty hunters, who do creative tasks.

You can contact us directly and offer to complete creative task. It may be video review of our system, translation of articles, any interactive actions in socials. Contact us and we will discuss your reward in SWAP tokens.

Payments for 3rd round of Bounty

Technical Audit of “SWAP.core” Finished Successfully

SWAP.Online team is getting closer and closer to the release of revolutionary cryptocurrency marketplace platform. For the newbies we need to mention that it will merge the functions of decentralized exchange and the mechanism for the acceptance of investments in the crypto-oriented start-ups. The technology itself is based on the Atomic Swaps algorithms and allows the users to execute the ERC20 ⇔ ERC20 and ERC20 ⇔ BTC swaps in the instant and decentralised manner. The swaps are already successfully conducted, the core is now ready to be implemented even in the projects with no Java Script via the REST API means, so the alpha version of product is live.

Product Double Check by the Strictest Judge

Our team is doing its best to make the product suitable for all the clients of b2b- and b2c- directions. So, we organised independent technical audit of the code double-checking bugs, frauds etc. The audit was performed by the Digital Security – leading Russian information compliance group. Microsoft, Qiwi, Sberbank as well as breaking-through crypto services – DAO Casino, Open Trading Network are among their clients. SWAP.Online fell right in the line with the giants being brought before the strict court. Analysis was organized in three ways – violations of confidentiality, integrity or availability of information. Potential attacker has only the access to Internet, Bitcoin and Ethereum networks.

What was wrong: The growth plates discovered

As far as confidentiality is concerned, some issues with message processing were disclosed. Messages were, firstly, send between the users without two-way authentication and then – opened from the JSON-objects without pre-processing. Also, the problem of potential JavaScript injection into the users’ key localstorage was showed and fixed.

As SWAP.Online pays attention to the reputation of the system users, malefactor shouldn’t have an option to somehow corrupt the other user’s reputation. So, the extra check mechanism for the real existence of deal has been implemented.

Also, the hackers from Digital Security found the bug we met on the multiple DEXs during our research. One willing to cheat on the system had been able to prolong the deal time ad infinitum. So, we set the definite limit to the time of exchange.

Finally, the process of seeking the deal status (with both BTC and ETH) was fixed in the way allowing the users to get more precious and timely updated information.

All in All: Auditors and Developers’ Opinion

Digital Security auditors team highly appreciated our position the security issues.

We commend the fact that SWAP.Online team gives priority to the security issues. To request an external consultancy on the early stage of project development is a marker of prudent and provident approach. All the vulnerabilities found by us were promptly and properly fixed.

Andrey Ivanov, blockchain project analysis manager in Digital Security.

Some results of the audit are disclosed by SWAP.Online lead developer Alex B.

Mostly, the bugs were about the logic of code. Some processes in our library are now to be realised fastly and more safely. I consider it to be an important milestone in our roadmap: the product is ready to meet with the customers for the most part. Our project goes forward quickly steps. It’s much safer to exchange crypto directly peer-to-peer: we saw a lot of centralised exchanges collapsed and being hacked.

Alex B. concluded.

It would be no exaggeration that SWAP.Online is now on the threshold of becoming the breaking-through complex of solutions in crypto for b2b and b2c spheres. The second round of our Smart Bounty program is over one week ago. Our Bounty department appreciated the outstanding work of the bounty-hunters on all the social media platforms. Smart Airdrop is scheduled on Jun 30, 2018: be our guest if you’re inside the crypto issues. The August, 2018 is planned to be a date of final product release, so, don’t hesitate to try it among the first.

See full text of Audit Report here: Swap.online_audit_fin.pdf

Always on your side,

SWAP.Online team

Swap.Online. What is ready for June

What we planned to do

March 2018. Launching Alpha-version of OTC market based on Atomic Swap protocol: Registration function, list of orders, BTC-ETH swapping, text description of the protocol, the easiest version of rate system of market-makers.

April 2018.

First release, beta version: swap between Bitcoins (BTC), Ether (ETH) and ERC-20 tokens; Launching the website of the project Swap.Online with a beautiful design and user-friendly description of the project.

May 2018. Adding node.js library; testing; primary audit, launching Bounty campaign

June 2018. Launching MainNet. Support of Nimiq coin, launching telegram bot, Airdrop.

August 2018. Release of the project

The Autumn of  2018. Continuation of researches offchain and full-scale output.

 


 

Perpetual plans: researches about offchain; for example, the opportunity of interaction with Lightning Network

What we did for June 2018

Swap.core

The core with authorization services, orders, events is released. There is a communication between clients occurs through IPFS.

The authorization service allows you to create wallets and initialize existing ones.

Order service allows you to work with a collection of orders: create, store, delete and request any data. This service uses IPFS for communication between clients to notify new users about existing orders (a glass), about changing the status of orders and their removal.

The core functionality of the core is the presence of a Flow abstraction that allows you to create any direction of swaps between any coin/token: a person with technical knowledge can describe lots of variations in the exchange of two pairs, adding steps to execute exchanges between people. That gives more flexibility and does not bind the core users to the core developers – they can develop it as much as they want.

Support for the implementation of their services and changing existing ones is released as well: so a developer can describe his authorization service and replace an existing one without having fork of whole core.

The website testnet.swap.online was launched with following tools:

  • creating wallets of ETH, BTC, NIMIQ, EOS, they are being created when you go to the website first time
  • search for currency pairs you need exchange offers,
  • transfer of all the above currencies to other wallets,
  • output of the list of conducted transactions with the possibility to sort them

In the site header it is possible to create offers for swap, and to see notifications of new swap offers, it is possible to swap between the following currency pairs: ETH <> BTC <> ERC-20 TOKEN.

  • The history of orders has been added,
  • The history of swaps has been added,
  • The button for refund has been added (for unfinished swaps in order to get refund),
  • Counter of connected peers has been added.

Research

Comments of Vladislav Sopov, our business analyst:

A comprehensive study of the DEX market and related projects (April-May 2018) was carried out, technical, marketing, commercial aspects, Internet presence and social networks were covered. ⇒ vision of the commercial offer in this market was formed (who and what offers, how much for it is requested)

A comprehensive study of airdrops and bounty campaigns was done (May 2018), the main algorithms and trends, strengths and weaknesses of competitors are revealed.

The study of the profitability and capitalization of crypto-currency projects is conducted, the results are summarized (June 2018).

Comments of Alexey Bikhun, developer and researcher of new technologies:

Now I’m developing a bot to communicate with the exchange. At this point, the REST API interface is ready, which means that anyone can start writing logic for the bot in their favorite programming language, and details of implementing swaps will be hidden inside my interface. A bit later we will introduce a bot that will implement the simplest arbitration logic through the same API. This is convenient for those who have an account on another exchange and some amount of liquidity. With the help of my bot, he will be able to place pairs of buy / sell orders simultaneously on two exchanges, and earn a small difference in the rate.

How to translate Project and Token Concept Summary in another language

1) Read our presentation. https://wiki.swap.online/en.pdf

2) If you think that you can translate our presentation into another language, write @sashanoxon and state the language.

3) The original unformatted text can be found here – use it as a basis for translating.

4) Download the trial version of Adobe Illustrator here

swap online translate

5) Install Adobe Illustrator

6) Download the original source file of our presentation and open it with Adobe Illustrator.

7) Press the T key, select the required text area and replace it with translated text.

translate presentation swap online

8) After you have replaced all the original text with your own, save the file in PDF(CTRL+SHIFT+S) and send it @swapanton along with your ERC-20 wallet.

 

 

How was the Hackathon ⚡Lightning Network HackDay

An IT-startup can cost several billions, while causing losses or working at 0 at the moment. This is possible due to the faith of investors in the great future of the company. The reason of faith can be for everyone:

  • Someone believes in the marketing capabilities of the company – it is not necessarily to have the best product, but if the team can get everyone to use it (for example, WhatsApp messenger), the messenger users will create value for other users (you can easily contact anyone) and  attract more and more users into the product.

  • Someone believes in technology / product – the company came up with something that can dramatically improve the current user experience. While other companies will understand how it works, and will be able to do something like that, our company will already go far ahead.
  • Another reason. 🙂

The swap.online project moves the future of blocking technologies forward. Our team has already got people with unique knowledge and rare skills that complement each other. But current knowledge is not enough to realize all our ideas. Therefore, the CEO of the Swap.Online project, Alexander Noxon, together with Pasha Ivanov and Alexei Bykhun, went to Berlin to the HackathonLightning Network Hackday.

Страничка хакатона в сервисе meetup

Bitcoin Lightning Network Hackday #2 на meetup.com

The event will bring together few people, but it will be people who determine the future of the most important blockchainr – Bitcoin. Bitcoin has a huge potential In P2SH-addresses , that is able to sort out the most acute problems of the blockchain – the speed and cost of transactions.

Aleksandr Noxon, CEO Swap.Online

On the hakaton we set ourselves the task of developing a swap between Bitcoin from the Lightning network and the Etherium. Ideally, we wanted to connect the lightning payments directly on the Balance page in Swap.Online.

Ind CTO and the main developer became interested in our project. Together with the main developer of swap.core Pasha Ivanov  they discussed how to connect the external system (in our case swap.online) and lnd – the leader among software developers for the lightning network.

with https://github.com/roasbeef

After personal communication to connect Lightning to the balance sheets was a simple matter. But it was too early to rejoice. “Friending” Lightning with the Ethereum was much more difficult.

Nevertheless, despite all the difficulties, our developer Alexei Byhun  managed to do it at least. The results were presented to the court:

In addition to developing a swap between Lightning and the Ethereum, we discussed swaps as such with our colleagues. There was Daniel McNally in the focus group, a developer from the Exchange Union team (their tokens are already traded on the exchange, although the finished product is not yet available).

During the discussion, participants noted the advantages of swap.online: our future customers will have the opportunity to trade without downloading software, directly in the browser. This is more convenient than the Exchange Union experience. At least what Daniel demonstrated required downloading and installing the client to his computer.

We received positive feedback from other developers about our project. It was especially nice to see their surprise when they realized that it was already working right now, right in the browser.

Thanks to communication with competent developers Alexey Bykhun and Pasha Ivanov spent a half a day, did the research and wrote a code that would take several weeks to create in another place.

Another advantage of the trip to Bitcoin Lightning Network Hackday:

  • Completed the FAQ section with questions: “In what language this is written?”, “Where can I take a look at your smart contracts?”
  • We figured out what other teams are doing now in the development of the most important blockchain, Bitcoin.
  • We made friends with Ind and decided to use their achievements in the future.
  • We trained to talk about our project in English. “We have a place to grow,” Noxon admits.
  • We got the likes and were added to the public catalogs of Lightning Apps.
  • Presented themselves as strong technical experts to other colleagues.
  • The most important thing was that we met and resolved a difficult task in a short time. In the future, it will not be difficult to translate everything into production. First of all, our developers understand this.
  • We will be among the first to launch offchain trades on OTC Market Swap.Online.

Stay tuned.

Last Call: SWAP.Online Smart Bounty Third Round

As you already know, the Bounty & Airdrop Campaign of SWAP.Online is organized in unique, really ‘smart’ way. Only best participants will get their reward but this reward is twice as high as the average for the competitors. We also informed you about the results of the first round of the campaign, and now we are proudly presenting the third one!

 

Second Bounty Stage is Over on Jun, 14.

 

We analyzed the results of the second round  – and it’s really fascinating! Anton K, head of our Bounty & Airdrop department found it really successful. “The bounty hunters from Twitter and Facebook are predictably among the most active. Also, I need to mention two brilliant bloggers who presented very interesting reviews for SWAP.Online solutions. Yanadimaz10 described our projects in Russian via his Hamstercoin ICO & Crypto Blogspot Journal. Indonesian blockchain enthusiast Jubah84 made very accurate review in Bahasa Indonesia  on the SteemIt Social Platform.Other participants also show bright interest in the project rapidly and precisely completing all social tasks. As in the case of the first round, all the tokens were successfully distributed among the best participants without any problems and complaints”.

 

Maybe, you’re one we are looking for

 

Now, on the third stage of the Bounty, we are in particular need for the Signature Bounty and Medium Bounty. The last one is rather sensitive: the Medium Platform has restricted the Terms of Use regarding the ICO&Crypto issues. The Signature Bounty tasks are much easier: you need only Bitcointalk account and some patience. “The Medium and Signature program are among the most well-paid segments of our Smart Bounty. We analyzed the costs of average tasks for the experienced users and found that one can earn there four times more than Facebook and Twitter bounty hunter”, says Zakhar.

 

Four Reasons to Join the SWAP.Online Bounty

 

  1. No ICO: the Bounty Hunters are barely only token holders outside the SWAP.Online team.
  2. Guaranteed Interest: the SWAP token will be the only acceptable mean of payment in SWAP.Online project for the full range of decentralized over-the-counter crypto marketplace services.
  3. Project Release Coming VERY Soon: The Airdrop is scheduled on Jun 30, 2018 and the exchange starts operating in Aug, 2018.

 

So, don’t miss the call. Apply for SWAP.Online Smart Bounty and Airdrop Campaign today!