• Swing, a cross-chain liquidity protocol, released a new “no-code” product that is designed to reduce the time needed to deploy and update decentralized applications across multiple blockchains.
• The product, Swing Platform, will be provided to developers at ETHDenver and will allow updates to configurations without changing the code.
• Chainalysis estimated that hacks and other thefts from cross-chain bridges cost $2 billion in the first eight months of 2022.
Swing Releases ‘No-Code’ Product for Speeding Up App Deployment
Benefits of Product
Swing Platform is designed to reduce the time needed to deploy and update decentralized applications across multiple blockchains. It allows developers to update configurations without having to change any code. This could prove invaluable in critical scenarios when it’s necessary to disable a particular token or bridge due to a security flaw.
Hacking on Cross-Chain Bridges
Cross-chain applications that straddle multiple blockchains are becoming more common, though the cross-chain “bridges” often used to move digital assets back and forth between different networks are frequently targeted by hackers. According to Chainalysis, a blockchain security firm, costs associated with hacks and thefts from cross-chain bridges amounted up to $2 billion during just the first eight months of 2022.
Swing Platform Application
Developers can use Swing Platform in order to quickly respond in case of a security incident or if something happened outside of ordinary working hours which requires nontechnical team members act fast. Viveik Vivekananthan, founder of Swing said: “Launching and maintaining a cross-chain application is generally fraught with risk and off-limits to all but the best-funded developer teams,” Swing founder Viveik Vivekananthan said in the press release.”Swin will make bridging much easier for projects at any stage.”
Conclusion
The release of Swing Platform marks an important step forward for making it easier for developers at any stage of their project lifecycle design efficient cross chain applications without sacrificing safety concerns related hacking attempts on these bridges