Review on Switcheo by wilfredo faria

Name: Switcheo
Item: Switcheo
Rating: 4

October 26, 2020

Switcheo decentralized platform

Being this a decentralized platform, switching users do not have to create an account since everyone who owns a neo wallet can connect to switching through the private key that their neo wallet gives them and so you can enter and view and exchange the  all of its NEP-5 tokens.  Taking into account that the transactions in the switching platform are carried out by means of contracts.  This being exchanges made directly on the NEO blockchain.  Meaning that switching users do not have a wallet per cryptocurrency but they go directly to their neo wallet since it is not done directly on the cryptocurrency exchange platform by which when going to their neo wallet you can exchange your tokens  NEP-5 for other NEP-5 tokens after you make all this transaction the tokens that they give in contract forms until the user makes the decision to transfer it back to their neo wallet.  Then it would take several minutes to see the transformation in your wallet wallet of its NEP-5 tokens, since as mentioned, switching does not use a password since it is a non-custodial exchange where there is no custody of user funds.  On the other hand, the request for switching authentication is done by signing the payload of the request or the blockchain transaction in its overview, switcheo says on its official page that currently all compatible blockchains use  an elliptical curve digital signature algorithm (ECDSA) however each hashing algorithm used for each blockchain differs slightly Being this a decentralized platform, switching users do not have to create an account since everyone who owns a neo wallet can connect to  switching through the private key that your neo wallet gives you and so you can enter and view and exchange all of your NEP-5 tokens.  Taking into account that the transactions in the switching platform are carried out by means of contracts.  This being exchanges made directly on the NEO blockchain.  Meaning that switching users do not have a wallet per cryptocurrency but they go directly to their neo wallet since it is not done directly on the cryptocurrency exchange platform by which when going to their neo wallet you can exchange your tokens  NEP-5 for other NEP-5 tokens after you make all this transaction the tokens that they give in contract forms until the user makes the decision to transfer it back to their neo wallet.  Then it would take several minutes to see the transformation in your wallet wallet of its NEP-5 tokens, since as mentioned, switching does not use a password since it is a non-custodial exchange where there is no custody of user funds.  On the other hand, the request for switching authentication is done by signing the payload of the request or the blockchain transaction in its overview, switcheo says on its official page that currently all compatible blockchains use  an elliptic curve digital signature algorithm (ECDSA) however each hashing algorithm used for each blockchain differs slightly Pros and Cons
﻿

Pros

At the moment, one of the tokens used by switching, which is neo so far, has been indivisible.

Cons

With neo's announcement that their tokens will be divisible, they will no longer have to use the switch contract, that is, this is not very good for this platform