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What Is Anyswap (ANY)?
Anyswap is an entirely distributed protocol that was launched in July 2020 to enable tokens to be swapped from various platforms.
It’s one of a number of networks that have entered the DeFi space to facilitate cross-token swaps and trading.
The system obtains its strength from its ECDSA Signature Support.
An overwhelming majority of cryptocurrencies — 95% of them to be exact — have incorporated Anyswap, including the likes of XRP, Litecoin and Tether.
Also backed by Fusion’s Decentralized Control Rights Management (DRCM) technology, Anyswap is able to better manage the flow of movement of tokens between blockchains.
What Makes Anyswap Unique?Anyswap is powered by Fusion. The Fusion Network uses a process known as private key sharding — where the private key is split up into several bits and managed by various network nodes — to guarantee assets are safe.
The different parts of the private key are never combined during transfers or trading to boost security.
Smart contracts on Anyswap are open source, a factor which enhances security using individual audits.
The open-source nature of Anyswap is important because it makes it easier to verify whether a platform is decentralized. One of the most important features of Anyswap is that the token paves the way for users to exchange cryptocurrencies with immediate effect.
The ANY token also enables holders the freedom to determine which coins are most appropriately suited to be listed on the Anyswap DEX, its decentralized exchange.
Related Pages:What is the role of private keys in crypto?
Check out our deep dive into decentralized finance.
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How Many Anyswap (ANY) Coins Are There in Circulation?When it comes to the maximum supply possible, Anyswap’s supply cannot exceed 100 million. It has a circulating supply of roughly more than 17 million. The initial supply of ANY was 15 million, including 5 million in initial liquidity provision upon the launch of the platform. The remaining 10 million was earmarked for the community and ecosystem to increase Anyswap’s user base, among other things.
How is the Anyswap Network Secured?Anyswap will support all ERC-20 tokens, meaning it is based on the Ethereum blockchain.
Where Can You Buy Anyswap (ANY)?There are several exchanges which enable purchases of Anyswap. These include Hotbit, 1inch and SushiSwap. Read more about how to convert fiat currencies to crypto here.
referencePosted on 25 Oct 2024, this text provides information on Miscellaneous in Cryptocurrency related to Cryptocurrency. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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