Swarm City price is $0.03387158
As of this moment, the price per token of Swarm City (SWT) is $ 0.03387158. As always, it's essential to check for price updates often as cryptocurrencies can fluctuate rapidly.
Swarm City is a cryptographic commerce platform constructed upon the Ethereum blockchain. It enables individuals to communicate and transact in a decentralized way, without any middlemen or central authority. The platform focuses on the SWT token, which is used for all transactions on Swarm City. This emphasis on decentralization is a major point of differentiation for Swarm City, with the interesting design choice of storing all data locally on users' devices, thereby eschewing the need for a central database.
The creation of Swarm City is attributed to a group composed of developers based in Antwerp and entrepreneurs from the United States. Initially, the project was launched as a decentralized world known as Arcade City. The Arcade City whitepaper was published online in October 2016.
In Swarm city, users can publish a request for services or goods, whether it be ride-sharing or medical services. This request is created as an offer, which is broadcast to the entire Swarm City network. Funds for transactions are held in escrow, and a smart contract is automatically created for each offer. Both parties deposit tokens into this smart contract as a guarantee for a successful transaction. Should any disputes arise from the exchange, funds are not released until a resolution process has been initiated and successfully concluded.
The Swarm City Token (SWT) holds a pivotal role within the Swarm City ecosystem. It is the unique vehicle of exchange in Swarm City, with all transactions being dispatched using SWT. Even when users elect to view transactions in terms of dollars or Euros, SWT remains the actual instrument of transaction. All the transactions are logged onto the public ledger through SWT.
Beyond its unique token economics, Swarm City has several noteworthy features. One of the key features is the "offer" system where any user can post a request for services or goods. Each offer creates an automatic smart contract. Besides, Swarm City promotes a system of "guilds" capable of resolving disputes based on their individual "Charter of the Guild". Furthermore, Swarm City has a reputation system that operates independently of personal data collection, once again underlining the platform's dedication to maintaining user privacy.
At this point in time, the circulating supply of SWT is 8.5M.
Swarm City Tokens (SWT) is available for purchase on the following exchanges: YoBit.
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