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Market

Market stats

Market cap

$570,185.44

Volume (24h)

$1,366.98

Circulating supply

870.0M SWINGBY

All time high

$1.13

Price change (1h)

+1.37%

Price change (24h)

-6.61%

Price change (7d)

-13.26%

About Swingby

What Is Swingby (SWINGBY)?

Swingby is a unique decentralized proof-of-stake network that utilizes advanced techniques in cryptography research. The platform aims to permit users to move the tokens on some other chains without any trusted party. 

According to the website, Swingby's bridge protocol, Skybridge, develops trustless bridges between EthereumBitcoin, Binance Chain, and other vital blockchains confirmed by a grid of node groups that perform quick token swaps by utilizing multi-party computing. (Multi-party computation is a logic of cryptography that allows numerous parties to calculate a function without disclosing the inputs jointly.)

Further, Skybridge, a product of Swingby, permits users to move the Bitcoin tokens between the Ethereum, Bitcoin, and Binance Chain without depending on a central custodian, thereby making way for DeFi abilities like DEX trading and liquidity pooling with a user-friendly interface.

Swingby's Skybridge leverages the vital multi-party computing (MPC) research and threshold signature scheme (TSS) to deliver a layer-2 cross-chain bridging protocol for multiple individuals. A threshold signature scheme is a process that substitutes the Sign algorithms of a virtual signature technique with an interactive protocol among numerous parties. It is a fairly new technology with numerous advantages that perform well for cross-chain swaps. Many other open-source projects also use the technology. Skybridge does not depend on smart contracts or complex user interfaces, unlike many blockchain interoperability protocols. 

According to the whitepaper, the Swingby Network is a peer-to-peer (i.e., all nodes are equivalent and there is no moderator) and permissionless grid of nodes that operate the Swingby node software to interact with one another. The Swingby node operator owns and stakes the tokens for the respective Swingby Node in this network, and the tokens' staking is accomplished on the Binance Chain.

Users can just transmit funds to the network's address to conduct a swap. The aim is not to evolve as a DeFi project but to bridge various DeFi applications across chains. Swingby also aims to offer support for multiple chains in the future. However, Bitcoin and Ethereum were selected as the launch bridge pair due to the major acceptance of ERC20 bitcoin tokens in Bitcoin's market capitalization and DeFi space.

The token utilized in Swingby Skybridge is Swingby Token s(SBY). SBY aims to be used as a BEP-2 token on the Binance Chain to verify eligibility for partaking in a TSS group. The token is also distributed for the development of the Swingby network ecosystem. Besides the Binance Chain, SBY can also be published on different blockchains linked to the Swingby Skybridge. 

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Coinbase Bytes

Coinbase Bytes

The week’s biggest crypto news, sent right to your inbox

Swingby is on the decline this week.

The price of Swingby has fallen by 13.26% in the past 7 days. The price declined by 6.61% in the last 24 hours. In just the past hour, the price grew by 1.37%. The current price is $0.000655 per SWINGBY. Swingby is 99.94% below the all time high of $1.13.

The current circulating supply is 870,000,000 SWINGBY.

FAQ

What is the current price of Swingby?

We update our Swingby to USD currency in real-time. Get the live price of Swingby on Coinbase.

What is the market cap of Swingby?

The current market cap of Swingby is $570.19K. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Swingby?

The all-time high of Swingby is $1.13. This all-time high is highest price paid for Swingby since it was launched.

What is the 24 hour trading volume of Swingby?

Over the last 24 hours, the trading volume of Swingby is $1.37K.

What other assets are similar to Swingby?

Assets that have a similar market cap to Swingby include FidexToken, Phoenixcoin, Signata, and many others. To see a full list, see our comparable market cap assets.

How many Swingby are there?

The current circulating supply of Swingby is 870 million.

Can I buy Swingby on Coinbase?

Yes, Swingby is currently available on Coinbase wallet. For more detailed instructions, check out our helpful how to buy Swingby guide.

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