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Ethereum-powered token trading ecosystem Swap rolls out beta program

Swap, an Ethereum-based decentralized, peer-to-peer token trading ecosystem, has announced the launch of its exclusive beta release program.

Created in partnership with blockchain specialist firm ConsenSys, Swap aims to satisfy the growing need in the blockchain community for a decentralized token trading solution.

According to the official release, the beta program will be available for a limited number of people, who will receive exclusive access to beta apps and earn Swap tokens in exchange for their participation. The sign-up period started at 12am EST on June 21, 2017.

“We’ve been developing apps to help us craft the Swap protocols and are excited to get the community involved. The beta program loops you into our internal release cycle and gives you first look at what we’re building”, said Don Mosites, Swap co-founder. “We’re also announcing the Swap token, which our early beta participants will earn for helping us out.”

In addition, Swap said that its team has expanded its white paper to include oracle services and Swap token details. The oracle provides prices so that counterparties can more easily make fair trades. The Swap token gives access to ecosystem services and makes for a simple and liquid token trading experience.

“Many of the proposed decentralized exchange solutions were using the old paradigm of a centralized order book and forcing it onto the blockchain. We are now dealing with a new paradigm where nodes are distributed and updating the state of the system incurs a cost, so creating a decentralized trading solution requires some deep thinking. We are solving this issue with Swap,” said Michael Oved, Swap Co-founder.

Swap recently added Phil Daian as a technical advisor. Phil is a member of IC3, and has extensive experience auditing smart contracts and analyzing distributed systems.

“Decentralized exchange is a very promising space, and I look forward to working with the Swap team to review the security of their system on release and identify potentially hard foundational problems and their solutions,” said Daian.


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