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CoinList will begin Swarm Token Sale today

CoinList added Swarm Token on its platform. The exchange announced about it on Thursday. The registrations for the Swarm Token Sale are already open. However, the sale begins today, June 14, 17:00 UTC. The deadline to register is June 11, 12:00 UTC. Swarm is a system of peer-to-peer networked nodes creating communication service and decentralized storage. CoinList invited all its eligible users to register.

According to the platform, the sale has two options with different terms: the first option will run from June 14, 2021, to June 15, 2021, and the second option will run from June 15, 2021, to June 16, 2021.

However, both of them share the same BZZ token pool. In addition, CoinList noted that Option 2 would occur only if there are excess tokens from Option 1. Thus, eligible users will register for both options by registering for the sale. The two options will also have separate, independent sale queues.

How does Swarm work, and what does it offer?

Swarm aims to create a decentralized storage and communication service. Its system is self-sustaining thanks to a built-in incentive system. The latter is enforced through smart contracts on the Ethereum blockchain.

Swarm’s goal is to shape the future towards a self-sovereign global society, as well as permissionless open markets. The company focuses on dApp developers, enterprises, organizations, and activists on every blockchain. Its use-cases include blockchain, social media dApps, archives, free press, and DeFi data.

Swarm offers several interesting advantages to its clients. Its data is readily accessible due to erasure coding and cross-node replication. Specifically, the company divides data into pieces and stores it redundantly throughout the network. This redundancy provides continued data delivery even when nodes go offline.

Furthermore, all node operators participate in a fair data economy. That means no central party controls or monetizes data. Instead, customers own their data, and node operators ensure the integrity and availability of this data.

Users also pay for storage and communication on their own terms instead of having their data sold to cover costs. Besides, BZZ tokens motivate node operators to run and maintain network nodes.

 

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