Review on Switcheo by Olugbenga Ajayi
Switched provides a secure, decentralized platform for trading and swapping digital assets from multiple blockchains
Switcheo is a decentralized crypto currency exchange that was launched by a group of graduates from the National University of Singapore. They frowned at the control and insecurity inherent to centralized exchange and decided to bring in something not only decentralized in nature but also better than some other decentralized exchange.
Switcheo is a multichain project that has now expanded to three major cryptocurrencies which are NEO, ethereum and EOS. The project makes it possible to trade and swap cryptocurrencies from these three blockchain using any of the available wallets that supports the three blockchains like trust wallet, metamask and coinbase.
All transactions on swithceo are executed through smart contract on NEOs decentralized exchange. The exchange being non custodial by nature does not require KYC or sign up.
Since the ICO took place in 2017band the SWTH was released, the project has grown to supporting all tokens from these three blockchains.
I personally love this project as it eliminate the need to switch between chains to carry out transaction, also I love the security it offers as a decentralized exchange. Such exchange cannot be tortured by hackers.
Pros
- The project is open source and verifiable
- It carries out regular audit on all its transaction
- It is non custodial in nature
- It does not require KYC
- Users have control over their funds
- Instant processing of order
- Users enjoy 24/7 support
Cons
- No negative comment
