Hive keychain Swap: A Seamless Way to Engage Layer 1 & 2 Tokens on Hive

The Hive blockchain continues to grow and deepen its development despite the long bearish crypto markets. This is because this blockchain believes in the future and it's decentralized enough to allow users come together to create unique communities and projects with unique use cases, leveraging the blockchain's infrastructure, feeless transaction and scalability features.

All of these is a preparedness to onboard the masses from web2 systems into the web3 environment. However, transitioning from a traditional Web 2.0 solution to a decentralized one can be very challenging. This is due to the the need for a fundamental shift in architecture and mindset. This also places a burden on the developers of web3 systems to simplify their their creations to reduce the adoption bottlenecks.

Without a doubt, we'll agree that human's attention span is decreasing, the reason that short form content creation is taking over. The internet age requires that everything be done with speed and with less efforts. Thus, there is the need for web3 applications to provide for ease of access and use. Creating Web 2.0 solutions in a decentralized way involves combining the principles of decentralization with the functionality and user experience associated with traditional Web 2.0 applications.

Thanks to the developers on Hive that are realizing this and working arduously to provide seamless operations, upgrading their old operations. INLEO's upgrade from long form content to a leading microblogging interface on web3 environment is a vivid example.

While mimicking some aspects of Web2 applications to facilitate adoption and usability, Web3 solutions still leverages their unique advantages, such as decentralized data storage, trustless transactions, and self-sovereign identity. Striking this right balance between familiarity and innovation is key to the success of Web3 applications. This is what defines @Keychain's new swap feature.

Swap on Keychain is a Thing!

After a few weeks of beta testing and tweaks, Keychain, a browser extension/ mobile dapp that provides Hive users with secure and seamless access to Hive powered websites, dApps, and services, successfully launched its swap feature that makes it easier for Hive users to trade/exchange tokens across its layers seamlessly and in a decentralized manner.

We released the swap feature on the extension this week, and many of you asked when this will be available on Mobile. We are happy to announce that you can now use it on Android! source

Swap feature is available for both desktop and mobile users. This is a feature that will be very useful for new users and those who are not used to trading their tokens on the open market. The swap feature eases the stress of finding a suitable decentralized exchange (DEX), checking liquidity and knowing what best price to place a bid. With just 4 clicks or so, a user can trade between main layer tokens like $HBD to $HIVE or main layer token and a layer 2 tokens such as HBD/SWAP.HIVE, HBD/LEO, HBD/BEE, HIVE/LEO, HIVE/CENT, HIVE/SPS and vice versa.

This feature was very helpful on Leo Power Up Day as the hive-engine was down, yet users wee able to transact LEO and stake them from Hive Keychain. A guide on how to use the swap feature of Keychain is available in this post and this post.

Alongside Swap, Keychain has also added Ticker and Portfolio Widgets for mobile Android users. Ticker widget helps a user to keep an eye on $HIVE and $HBD price from the phone's home page. Portfolio widget on the other hand displays the current balance of a user's accounts. The user can also choose which accounts to display, through the setting wheel.

All of these is comprised in the dapp's v2.14 that is live on Android. Development efforts are ongoing to make it available to iOS users too in the coming weeks. You can download the Apps / Extensions on Keychain's landing page.

Definitely, there would be no regrets for web2 users joining the web3 world via Hive as everything is simplified for ease of engagement and interactions. Hive blockchain is demystifying blockchain operations.

If you found the article interesting or helpful, please hit the upvote button, share for visibility to other hive friends to see. More importantly, drop a comment beneath. Thank you!

This post was created via LeoFinance, What is LeoFinance?

LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.

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