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Swingby Partners With Chainlink To Secure Bitcoin Bridge

PRESS RELEASE. Swingby has recently announced a newly established partnership with Chainlink for Proof of Reserve. The recently publicized partnership is aimed to help secure the Swingby Skybridge which connects the Bitcoin blockchain, enabling the introduction of BTC into the Ethereum network.

Swingby Develops A More Advanced And Secure BTC Bridge

Swingby is a BTC bridge ecosystem with plans to expand into other blockchain ecosystems in addition to Bitcoin and Ethereum, which the platform has already accomplished. In fact, the advance in platform security made possible from the partnership makes Swingby the only BTC bridge guarded against a WBTC depegging event.

In a Swingby announcement announcing the partnership it was also revealed that the Bitcoin bridging protocol chose the Chainlink Proof of Reserve, due to what was proclaimed in the details of the announcement to be critical features offered by Chainlink’s oracle service.

Proof Of Reserve Offers Verifiable Transparency And Security

With the recent rise in the incidence of blockchain ecosystem crashes, catastrophic depeggings, sudden closures, bankruptcies and more, this is a time when transparency and security have become of even greater importance than ever before in the blockchain industry.

Swingby made the decision to equip the protocol to employ Proof of Reserve as a transparency measure which protects the bridge from completing transfers that are not verifiably present in reserves backing token supply.

The Swingby announcement details that the integrated Proof of Reserve will check to ensure that the number of BTC held in custody in reserve wallets matches the amount of WBTC tokens on the Ethereum network. If there is a discrepancy between the figures, the Proof of Reserve function is designed to automatically shut the bridge down from user access until the issue is resolved. The measure is aimed to protect user and network security.

Raising The Standard With Proof Of Reserve

As aforementioned, the built-in automated security introduced by the Chainlink Proof of Reserve mechanism has led to Swingby being able to proclaim the network as being the only BTC bridge that is secured against the depegging of WBTC.

In the vein of blockchain transparency and security, the recent bankruptcy filing of FTX and sister company Alameda Research affected the REN Protocol which is owned by Alameda. The swift closure and demise of REN Protocol propels Swingby as one of the more recognizable market leaders in this space, and also one of the more decentralized bridges as well.

Swingby aims to accomplish ease of use through its proof of stake network. The Chainlink Proof of Reserve is designed in a way which can further support a simple and efficient UX largely by the automated process that the reliable, secure, up to date data presented to the smart contract powered network environment by way of the tested Chainlink oracle network.

How Chainlink Proof Of Reserve Is Expected To Support Swingby Skybridge

An up-to-date reference contract will be kept to provide smart contracts with on-chain, automated verification of an asset’s collateralization. This also removes the need for manual audits, and makes the data and information available for independent monitoring and validation by individuals, due to the transparent nature of the blockchain.

Customizable External Adapters are implemented in the Chainlink Proof of Reserve. They are used to source data from premium data providers through financial incentivization, meaning the data provided through the facilitation of Proof of Reserve is considered to be amongst the highest quality.

The decentralized nature of the Chainlink Proof of Reserve is also mentioned as being an important aspect of the design which supports the Swingby skybridge. Details provided in the announcement expose that oracle nodes and data sources are decentralized and therefore – eliminate central points of failure in both the sourcing and delivery of data to Swingby.

More To Come As Announced By Swingby

Senga Yusaka, CEO of Swingby revealed in a recent statement that there could be more to be expected from the partnership with Chainlink. The official Swingby announcement disclosed intentions for the protocol to implement Proof of Reserve on Avalanche, Polygon and other blockchains via Skybridge now that the Ethereum network is complete and live. The CEO offered insights that expressed the major importance of the role which Chainlink Proof of Reserve plays in the decentralized infrastructure for Swingby’s Skybridge.

“We consider Chainlink Proof of Reserve to be mission-critical decentralized infrastructure for Swingby’s Skybridge and it will play a key role in preventing users from minting new WBTC tokens or swapping them if the BTC reserves become unpegged from the WBTC token supply. Security is paramount when building a bridge across blockchains, and Chainlink’s battle-hardened and time-tested oracle network is the most reliable in the industry.”

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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