Swap (XWP) is a community-developed cryptocurrency with the mission to provide robust privacy, ecosystem fairness, transparency, security, and ease of use. XWP price is volatile.
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Read on to learn everything you need to know about the Swap protocol and the XWP cryptocurrency.
What Is Swap Coin
Swap (XWP) is a privacy-focused blockchain protocol, which originated in November 2018, and was initially called "FreeHaven." In December 2021, FreeHaven was rebranded to Swap with a goal to create a free and fair cryptocurrency. Swap moved from its previous structure to the Monero codebase, integrating bulletproof transactions and taking advantage of the Monero community for enhancements and bug fixes.
The protocol used CryptoNote Technology to enable fully anonymous payments. In February 2019, Swap completed another major upgrade, improving its scalability and security by forking to the Cuckaroo29s Proof-of-Work blockchain algorithm. It also became the first CryptoNote coin to integrate Cuckaroo for fair mining.
Swap didn't hold an ICO or pre-mine to ensure that coins were fairly and freely distributed. The protocol doesn't require development fees either. The currency Swap has a max supply of 18,400,000 coins, and XWP doesn't have a fixed price.
The protocol aims to integrate ASIC mining technology by updating the Cuckoo Algorithm. Swap's future goals include allowing direct swaps between Bitcoin, Litecoin, and other assets on the Lightning Network. A swap is equivalent to a long position in a fixed-rate bond (i.e., receiving fixed interest payments) and a short position in a floating rate note (i.e., making floating interest payments). The generic types of swaps are interest rate swap, basis swap, currency swap, inflation swap, credit default swap, commodity swap, and equity swap.
Swap Coin Founders
Sebastian Green and Long Huynh (Leafy) are co-founders of the Swap protocol. Sebastian Green is the leading developer responsible for coding and maintaining the network security. He has over ten years of experience in mining crypto on various protocols. In one of his interviews, Green said that he started mining Bitcoin in 2011. Later, in 2017 he started mining Monero and other privacy coins.
Long Huynh got into crypto mining in 2017 and became interested in CryptoNote technology. Leafy handles the testing and debugging processes of the Swap protocol.
