Passive income is now more accessible for crypto mining enthusiasts with the introduction of the XSWAP Protocol. XSWAP became the first Decentralized finance (DeFi) protocol to utilize smart contracts for swapping altcoins and NFT – Non-Fungible Tokens on the XDC network. This move comes at the heel of another XinFin XDC network Blockchain Technology news: the network joining the Global Trade Finance Distribution Initiative.
XSWAP aims to create a system that allows swapping stable coins quickly and efficiently. For this, it utilizes XRC-20 tokens similar to how Ethereum (ETH) uses ERC-20 tokens. While digital currencies like Bitcoin (BTC), Bitcoin Cash (BCH), Cardano (ADA), Dogecoin (DOGE), Binance Coin (BNB), Polkadot (DOT), Stellar (XLM) are gaining traction today, XSWAP specifically chose XDC coin. The reasons behind such a choice are plenty.
Firstly, the XDC network is holistic in nature. It can be used for any number of blockchain applications, BaaS – Blockchain-as-a-Service, and Blockchain Mobile AppsApps, as well as for government needs. This makes the infrastructure versatile, hybrid, and modern. Moreover, the network offers a technology that supports smart contracts and 2000 transactions every second.
XSWAP creates a wave in the blockchain industry because of its unique system for swapping. Users can utilize a liquidity pool for currency swapping and earn passive income via liquidity farming and staking. Such use of blockchain in the industry will change the way digital currencies and crypto hardware wallets work. At a time when the Cryptocurrency Regulation News in different countries is favorable and the use of blockchain in FinTech is high, XSWAP is going to change the Big Data and blockchain industries. We are likely to see more crypto airdrops and positive crypto market analyses soon