As the United States government progresses towards regulating cryptocurrency and making it a staple of the world’s strongest economy, the crypto market is still experiencing a slump. However, there’s a buying frenzy going on among educated investors. “Buying the Dip” is a common phrase seen on various internet entrepreneur forums under topics such as Bitcoin, Ethereum, Solana, and others. And for such a ‘dip’ in the broader crypto and stock markets, companies are not slowing down on pursuing targeted goals.
Cryptocurrency company, Safe Haven, is one of those still on the hunt for decentralized supremacy. And they are delivering technology no other rival has as of early 2022.
Safe Haven has recently released SafeSwap, a decentralized atomic swap platform, SafeSwap. In short, SafeSwap makes it easy for cryptocurrency projects to deploy their solutions across different blockchains. Early public results have proven SafeSwap to be reliable and secure.
SafeSwap may be the most secure, truly decentralized, cross-chain swap available.
Additionally, it’s the first cross-chain linking technology for VeChain, a cryptocurrency with a $3-Billion-Dollar market cap and millions of users.
A Real Deal Atomic Swap Has Arrived
The reason for SafeSwap’s current buzz is not just because a new product has launched. It is actually the technology that has been developed. For the first time, cross-chain atomic swaps are possible on the VeChain blockchain. For example, VIP-180 tokens (VeChain Blockchain) can be swapped to BEP20 (Binance Blockchain), ERC20 (Ethereum), and MATIC tokens.
In layman’s terms, SafeSwap enables the movement of more than $3-billion-dollars worth of tokens who cannot move their cryptocurrencies to wallets on other EVM based blockchains.
Cybersecurity Issues Resolved
SafeSwap’s atomic swap platform went through extensive testing in January and early February of 2022. Results were shared publicly via crypto news site, Altcoinbuzz.
As an additional safeguard, Safe Haven enlisted the help of the world renowned cybersecurity group, Red4Sec, to further prove their product. A more in-depth review of SafeSwap was completed, hoping to eliminate any possible cybersecurity threats.
Advantages of Safeswap For Cryptos & Its Users
In response to recent bridge exploits, like Wormhole, SafeSwap has eliminated the step of Decentralized Exchanges holding tokens on ‘bridges’. Hackers cannot steal cryptocurrency as tokens gets swapped from one user’s wallet (on Blockchain A) to their other wallet (on Blockchain B) directly. The transaction operates without the need for a middleman or 3rd party connector.
Browser extension cryptocurrency wallets such as MetaMask and Comet can use the SafeSwap exchange as well. Venly wallets, a previous part of Arkane network, will also function with Safe Haven’s new atomic swap platform, SafeSwap. Most supported wallets are multi-blockchain friendly and closely associated to the NFT market.
At last, swaps are performed near instantly. There is no extended waiting time. Additionally, there is no potential for a bridge cybersecurity issue, like that which cost Solana and it’s clients a loss of $320-million on February 2nd. The new atomic swap uses no ‘bridge.’
SHA Token Just Became More Relevant
With Safe Haven’s recent releases and developments, the SHA token is more appealing than ever before and new eyes are seeing what the Safe Haven team is capable of.
With SafeSwap’s launch, the conversation for many will simply be “how to get SHA” to avoid the annoying gas fees of swapping currencies across various blockchain. Digital entrepreneurs will find immediate advantages in this atomic swap technology.
Currently SHA has a market cap of just over $12-million US dollars. According to CoinMarketCap, the Safe Haven token is available on Bitrue, KuCoin, BitMart, and OceanEx.
This article was originally posted by Crypto ModeBack to news