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What is SWINGBY?
SWINGBY represents a cross-chain bridging protocol for moving assets between blockchains. Swingby uses the latest advances in cryptographic research to move tokens between chains without the need for any central trusted party.
When was SWINGBY launched?
SWINGBY Labs was launched in Singapore in 2018 by a group of crypto enthusiasts. The initial goal was to create tools for connecting the Bitcoin blockchain with other blockchains.
The first launch focused on connecting Bitcoin to Ethereum and took place in December 2020.
How does SWINGBY work?
SWINGBY bridge protocol, namely Skybridge, builds bridges of trust between blockchains, originally from Bitcoin, Ethereum and Binance Chain.
All of these bridges are secured by a network of nodes that perform token swaps using Level 2 Multi-Party Computing (MPC) and Threshold Signature Cryptography (TSS) technology. The technology provided by SWINGBY opens opportunities for owners of coins on classic blockchains (like BTC, BCH, LTC) to join the decentralized finance trend (DeFi).
With SWINGBY Skybridge, the DeFi world is a single transaction away. During trading, the assets are properly secured without the need of a reliable central third party, and the process is completely decentralized.