CoinCrowd Works With CryptoForecast, Offering Token Swap Service

A Technological Infrastructure That Allows Swapping Existing Tokens With ERC20 Tokens

Blockchain is an emerging technology, advancing rapidly to accommodate the different aspects of our lives. New softwares and applications are developed everyday, and consequently users are spoilt for choice.

With all the new available options and the different blockchains, in the long run users may find more suitable options for their tokens, and are faced with the problem of swapping the tokens between blockchains.

For example, CryptoForecast faced such a problem, needing a swap from Omni to Ethereum, in order to ensure better transferability and easier listings on new exchanges.

We met CryptoForecast ’s need by creating a technological infrastructure that allows swapping existing tokens with ERC20/223 Ethereum tokens.

How The Swap Works

The token swap is implemented through a snapshot of the native blockchain. Successively, a smart contract is deployed in the Ethereum network. The smart contract will issue new tokens through a verification process, a so called challenge: it is required to sign a message with the private key of the tokens’ address at the moment of the native blockchain’s snapshot.

How To Swap Tokens

If you are interested in how the swap works, CryptoForecast has published a thorough, step-by-step guide addressing the subject.

You can find the guide by clicking here.

If you have any questions or inquiries please feel free to contact us on our Telegram group!