The cryptocurrency boom of 2017 has demonstrated that the exchange of this asset is still unsafe and over-regulated, thus unfavorable. Centralized exchange services with high transaction fees, low performance, complicated front-end are proving to be a kind of easy target for the scams, frauds and direct theft. Unlike them, we don’t store clients’ tokens, private keys or user info. We’ve just developed an open-source protocol where instant peer-to-peer transactions are executed.
Exchange BTC to ETH directly wallet-to-wallet. No web client installation, no app download, no plug-ins – open Swap.Online in your browser and make an offer!
How do we do it?
Atomic Swaps technology provides the ability to trade directly and instantly
The platform is cross-chain: operations in BTC and ERC-20-tokens are available
No JS injection
HTLC-contracts: truly decentralized orderbook, instant swaps, reputation management system
Premium Accounts with extended features
Teaching mode for the new-comers
Multi-level traders’ ranking
YOUR TOKEN LISTED ON SWAP.ONLINE
With Swap.Online launched the cross-chain decentralized exchange will never be the same
Token conversion solution
Collect BTC and ERC-20 tokens directly to your project
Swap.Online offers all crypto-oriented projects a service for token collection. BTC, as well as the ERC-20 tokens, with their growing popularity will be collected . All the functions will be available via API as one button for every website – just like the Visa or PayPal gateway button for traditional online stores. The Swap Button solution is safe as it is decentralized. The customers’ means are not stored by Swap.Online. With the Atomic Swap technology used, you get crypto instantly in your wallet, and your customer receives his or her tokens in their wallet: the middleman is cut out. So, this decision seems to be the key to success especially for small-to-middle ICO projects which have no option of attracting anchor investors.
Become a part of a project that brings closer together the interests of crypto traders, start-ups and ICO launchers. Exchange crypto, get your tokens, install the Swap Button.
Install the Swap Button on your site, and start token-conversion today!
Airdrop and Bounty Program
We launch our airdrop on Jun 30th, 2018. In future, only airdrop customers and bounty-hunters will be able to sell our tokens. No ICO. No mining.
We have an opening for a Product Ambassador
Swap.Online team, the founders of the decentralized exchange protocol (https://swap.online) and leading Russian crypto start-up is looking for a Product Ambassador. Our Ambassador will represent two products: b2c-solution (protocol for decentralized exchange of cryptocurrencies) and b2b-solution (algorithm allowing to accept crypto investments via the website in one click). The Ambassador will promote the product in different ways using his or her social capital.
Who we are looking for:
• high-level social capital and media impact are two main must-haves for the candidate
• basic knowledge of the of fintech field / crypto / ICO
• interest in start-ups
• fluent Russian would be an advantage
• advanced English
• our Ambassador should available 24\7 via the Internet
What we offer:
• high reward. Really high. Final compensation will be discussed.
• participation in the top crypto conferences and meet-ups over the world
• brilliant experience in a break-through venture start-up
• project job with no working restrictions
We are open-minded. We highly appreciate talent and diligence. Should you suppose you can be helpful for our team, please, don’t hesitate to contact us:
Telegram – @sashanoxon
Airdrop & Bounty Trends 2018
In the years of 2017 and 2018, the airdrop as the procedure of free token distribution for the couple of easy social tasks completed, become an inevitable stage of every cryptocurrencies project. Viceversa, everyone who issues the token, need to organize the airdrop.
Airdrop manager sets the two main group of tasks for the execution of which the reward in tokens is announced. First of all, there is a group of tasks directed to the promotion of the information about the product in social networks and new media. The participant of the airdrop using his social capital fills the news of friends in Facebook, Twitter, Telegram with the information about the project. Then, the organizer of the airdrop forms the database of people interested in purchasing of his token – their ETH-wallets, e-mail addresses, phone numbers, social media details etc. We have found even the project of universal gambling token asking for the national passport scanned copy and driver license (see the Point 25 of the Figure attached). After all, the organizer uses this database for the promotion of his projects but also (off the record) he can somehow sell it.
Airdrop & Bounty: where’s the difference?
Every beginner decided to get free tokens using the social networks accounts only meets two definitions: Airdrop & Bounty. There are a lot of manuals and articles about it, but they cause confusion. Where the airdrop ends and bounty starts? What’s the difference in very nature of these processes?
Analysts of SWAP.Online see there two fundamental approaches. The first one is widespread in Russian media and analytics. Journalists from Forklog, Insider, Cryptograph usually clearly separate airdrop from the bounty. In accordance to their columns, the airdrop covers only getting tokens for the piece of personal data. All the following proceedings connected with the social tasks are treated as the bounty campaign.
Western media take this moment much easier. From Forbes to Cryptovest, they don’t separate bounty and airdrop procedures. For them, two processes at the same time mean the completing of social tasks for the project tokens demanding different level of preparation and different investments of time. The sectoral websites (Icoalert, Airdrops.io) follow the second way. So, we too.
Airdrop & Bounty: there is no easy way.
When our colleagues start writing about the airdrops, they usually show it from the purchaser’s point of view. They describe the principles of distribution, give the tips to avoid the dangers. In fact, there are only three ‘tips’: save your precious time, don’t send your money or personal data, don’t tempt yourself by the huge rewards in dubious projects. Also, you shouldn’t use your main crypto wallet for the participation in bounty and airdrops. Well, finally, don’t be upset in case of organizers failure to send you the tokens – even in good projects things can go wrong.
But really complicated is the mission of token distribution organizer. It takes really brilliant foresight and creativity to attract the public attention. Thus can be described the shortlist of the bounty organizers’ severest headaches:
The token distribution may go unnoticed compared to the competitors.
The tokens may come to the ‘dummies’ with no ideas what to do with it
The tokens may come to the ‘freeloaders’ with very little social capital, so, the hype may not be reached
The token may be compromised by low-quality content made by butterfinger bounty-hunters
Operational difficulties may occur: Telegram bot may be shut down, Google Spreadsheet with the hunters’ data may come to the competitors, the participants may receive no tokens and write about it in all social media etc.
What can we do?
No ideas. But we decided to trace the ways the prominent market players solve the problems. We analyzed a couple of dozens of Aidrop&Bounty programs marked as hottest by one of the leading sectoral website in May, 2018. Please, find the results on the first sheet of the Table attached. The main channels of information distribution are presented on the second sheet. Some basic notes can be found on the third sheet.
The initial coin offer or ICO as the process of crowdfunding in the promotion of new crypto start-up is known since July, 2013. The main idea of ICO is to raise funds collecting fiats or existing crypto (BTC or ETH, most frequently) in change to project tokens. The year of 2017 became the ‘Golden Age’ of ICO: some projects e.g. the Brave web-browser collected millions of USD in a couple of seconds. By the way, this period in the same time reveals all the vulnerabilities of this young and fragile market. As the analysts from Marketwatch say, more than half of 2017’s ICO failed with 100M USD raised. Up to the nowadays, the confidence in ICO is undermined critically: all social media giants such as Google and Facebook strictly prohibited the ICO advertising.
Where is the trick?
First of all, significant part of ICO programs are the scams from the outset. Phishing, Ponzi schemes, personal data frauds, thefts are common in this market. According to Cointelegraph, 10 per cent of ICOs are initially fraudulent. The idea of poorly regulated but really unlimited fundraising seems to be very attractive for the crooks of all stripes.
The second problem is the speculative nature of ICO. Mostly, people invest not in project but in the hype launched by the project. In spite of the value of the product connected with the token offered, people invest in them missing the rush of Bitcoin and Ethereum. Thus, a huge cash moves to the ‘something-about-blockchain-platforms’ and being lost every day. As a result, serious venture investors now are hesitant about the ICO proceedings.
We did it our way
Since the SWAP.Online is a revolutionary project, the obsolete or vulnerable technologies were never treated as an option for us. So, we decided to avoid the ICO procedure at all. The part of tokens available for the wide range of purchasers will be distributed only via Smart Bounty and Smart Airdrop programs. We bet on the product (decentralized exchange protocol and crypto acceptance solutions), not on the hype. Thus, the participants of the programs will be barely the exclusive token holders.
Take care of your funds, don’t miss a chance to become a part of SWAP.Online.
SWAP.Online team presented the unique technology of decentralized cryptocurrency exchange protocol (DEP). Through this DEP, users will be able to exchange cryptocurrencies directly in browser with no apps, clients, plug-ins installed. The protocol uses the Atomic Swaps technology, thus it seems to be the most technically advanced decision in the world of cryptocurrencies. ERC20 <==> ERC20 as well as ERC20 <==> BTC swaps are now being tested.
Your Currency in Our Balances. Our Technology for Your Profit.
Now, after all development and test proceedings we are proudly presenting the solution for every ERC-20 token to be exchanged on every ERC-20 token. Why we don’t call it ‘listing’? SWAP.Online avoid all the disadvantages of classic listing procedures. For example, to list your token on Cryptobridge or its partners, you should pay 11 to 20 thousand USD in BTS tokens. We will put your token to balances for free. This is not the joke: let’s cross our audiences and make profit together! Also, we don’t make enormous demands for the tokens to be added to our balances. E.g. Localbitcoins won’t work with the project with less than 1B USD estimated price, as its CEO said in Mar, 2018. We are opened for all more-or-less appropriate project token.
Being added to our balances seems to be wise and profitable step for every serious token project. SWAP.Online provides not one but two beaking-through solutions for the market. Besides the DEP, SWAP.Online will launch the button designed to accept cryptocurrency to your project as easy as Visa payments to online-shop. So, the project is on the verge of big hype and big traffic: don’t hesitate to use it for your token. All we need is ERC-20 address of your token and its icon (symbol). Elaborated back-end allows to start to exchange you token as soon as possible. All leading altcoins as well as BTC have already been put to the balances, so, the list of trading options is already big and will only continue to expand.
SWAP.Online, Russia-based Atomic Swaps decentralized exchange protocol, announced the program of the utility-token distribution. This token will be the only acceptable mean of payment for the full range of the protocol services e.g. advertisement banners, token listing, premium accounts etc. There will be no ICO and no mining, so, the Bounty&Airdrop Participants will be barely exclusive holders of tokens and possible traders.
The tokens for the Project Development will be frozen during next year. Thus, the participation in SWAP.Online Smart Airdrop & Smart Bounty is the smartest way to get really rare asset – SWAP.Online Tokens.
For Smart Airdrop Program, the SWAP.Online team called for the venture investors, cross-chain geeks, Lightning & Rayden adepts, crypto fans with big social influence and IT girls. No kidding: the project is particularly interested in girls encouraged in crypto & blockchain sphere! Other categories are also welcome but need to explain their interest and value to the project.
For Smart Bounty Program, the team called for the bloggers, Facebook, Twitter, LinkedIn users, crypto writers. To receive the token volume equal to 400 USD for one week of Smart Bounty you need nothing but your social media influence. Only 25 % top participants will receive their tokens but the reward is six time more than average in compared projects. So, it seems to be the most interesting decision for real professionals in the sphere.
SWAP.Online itself is a revolutionary start-up sharing two main ideas . The first one is to exchange crypto (ERC-20 to BTC as well as ERC-20 to ERC-20) in browser in really decentralized peer-to-peer way, wallet to wallet. The second one is to accept crypto to B2B projects via SWAP.Online button that could be installed through the API principles on every crypto project web-site. Team and developers of the project have more than 10 years of experience in venture investment and more than 5 years fin-tech & blockchain projects. The project had successfully released alpha-testnet version (Spring, 2018) and executed first Atomic Swaps in browser.
Up to the nowadays, the world of cryptocurrencies has been meeting one but seemingly overwhelming contradiction. Basic, if you will, philosophical, principles of cryptocurrencies – anonymity, independence, equality – remained still only conditional. Even freshmen, who bought their first bitcoins during the market hype of December, 2017, listened to the stories about ‘chinese servers’ all the crypto traders’ data stored on and all the operations executed through. More experienced players of the market saw the things clearly: centralized exchanges’ servers became the targets of the multiple thefts, cyber attacks as well as by the admins’ frauds and scams. It needs to be mentioned, that it occured in 2016, in 2017 and 2018 – nothing changed as hackers upgraded their professional skills neck and neck with the technical advance of the exchanges. The ‘Holy Grail’ promises of the admins announcing compensations, lost tokens’ tracing, new cybersecurity systems were worthless: the traders remained the only victims of the services versus hackers fights.
Centralized exchanges became a brake on cryptocurrencies development. If 2017 was the year of ICOs, 2018 will be the year of decentralization.
Decentralized exchanges or DEX are the real solution of the problem, brand-new breakthrough mechanism. These systems allow traders to make and take the offers directly to each other without the united center, without data storage and middlemen. Based on most advanced technologies (0x, Plasma, Atomic Swaps et al.), they recover the initial value of cryptocurrencies as really anonymous, independent and free-to-use mean of payments. By the way, DEXs still are not able to reach the trade volume of the centralised services: it’s really the technology of tomorrow. Besides the fact, some old exchanges traced the new trend and started to mask their out-of-date technologies by the words ‘hybrid’, ‘semi-decentralized’ ensuring the customers that only uncritical part of infrastructure is centralized with the purpose of the operational speed raise.
In this context, it is very important to understand, how the DEXs are entering the market? Where do they find their clients? Which amount of transaction fee do they offer to traders? Which services are offered to businessmen?
SWAP.ONLINE captured this market at the time of birth.
Are the popular Bitcoin/Altcoin exchanges really decentralized and safe?
Decentralization is the basis for blockchain technologies. It ensures the security, transparency and integrity of all transactions in the network. But are the popular cryptocurrency exchanges really decentralized and safe? Fact: More than one million bitcoins were stolen after a few cryptocurrency exchanges had been hacked. The team of the Swap.online project analyzed the current problems of deсentralised cryptocurrency exchanges (DEX)
What are the types of DEX?
Pseudo-decentralized (using an unreliable gateway between two blockchains)
Earlier, it was of a common knowledge that a crypto exchange that did not store user keys was decentralized (and therefore safe). However, most of such exchanges are built on a single blockchain, which makes them distrustful. In order to get funds from the bitcoin to such crypto exchange, one needs to trust a gateway: it takes bitcoins and produces a kind of “bitcoins” in another network in return. A similar principle lies in Ethereum-based exchanges, for example, EtherDelta.
The advantage of this approach is the ease of implementation, but it does not outbalance the disadvantages: the gateway may not withdraw the funds back. Fast and free transactions are supported with a cheap infrastructure or by a certain group of people. The price of an attack on such an infrastructure is cheaper than an attack on the bitcoin or ethereum blockchain, which is provided by the capacities of miners around the world.
Crypto exchanges calling themselves decentralized, but functioning only in the Ethereum network, should be distinguished. For example, the 0x project which has many followers.
Their advantages are: Such exchanges are compatible with the most of the tokens issued during ICOs in 2017. In the Ethereum network it is easy to make up complex contracts (Margin Call and the like). But such exchanges do not support other leaders in the terms of the trading volume: Bitcoin, Tether, EOS.
Projects that link blockchains to each other using their own tokens
The most striking instances of such projects are: Polkadot, Kosmos, TON.
Polkadot allows transferring tokens from one network to another by blocking them in one blockchain and issuing them in the other. This exchange involves its own token.
Really decentralized exchanges that use Hashed Timelock Contracts
The community of blockchain developers has already for a long time created technologies that allow you to safely exchange cryptocurrency directly in the browser, without the involvement of a third party.
Devotees of centralization believe that storing private keys on a secure server is safer than storing encrypted keys in the user’s browser. However, if a central server is hacked, everything will be stolen (as it was with a million of bitcoins), and paranoids can remove signing of transactions from the browser into the application on the computer and encrypt it.
In fact, we are talking about the ordinary Atomic Swap (technical description of the algorithm). To understand how this works, watch the video of the system operation below, or try to make an exchange yourself at https://alpha.swap.online.
By using Bitcoin.js, web3.js, and the libp2p library in IPFS, we created a cross-blockchain swap system directly in the browser.
Features of the system:
The solution operates on average from 2 to 10+ times faster than the existing exchanges (taking into account the time to deposit and withdraw funds). On average, the exchange takes 2–3 minutes. Based on the data from our monitor (updated once a day). Source of the script.
Swap Online does not store secret user keys. Moreover, even messages between users do not pass through our servers (we use IPFS).
The exchange works right in the browser. Users do not need to download or install anything.
It already works between the bitcoin and ethereum blockchains. Exchange between Tether, Lightning Network is planned.
Theoretically, it is able to work with most cryptocurrencies, except for those where there is no scripting language. But even for such currencies (including Monero) solutions will be created over time (MultiSig for Monero).
Most frequently asked question about the security of the solution
— How will you deal with the intrusion of malicious scripts into the user’s browser?
Since all code is executed in the user’s browser, the greatest risk is the intrusion of extraneous scripts into the code. It is likely to be made by the extensions the user installed in the browser, or by a hosting provider. To prevent such attacks we will use cloudflare.com together with Workers, a solution that, in response to any request to the domain, sends a “Content Security Policy” header with the hash of the JS code allowed for execution in the user’s browser. Thus, server hacking and most attacks based on the intrusion of malicious code will be cancelled out, while hacking a server for a centralized service can be fatal.
For the B2B market (b2b.swap.online): Widget in the form of html code, which allows accepting any cryptocurrencies directly in the wallet of the site owner by sending tokens in return. The solution has a confirmed demand both from projects in the crowdfunding stage and from those who are already making a real product.
For large holders of cryptocurrencies: Ability to safely exchange cryptocurrency without bringing it to centralized exchanges (by replenishing the account only during the exchange).
As part of research, the possibility of using the solution as a bridge for the sidechains is being studied.