What Is Zap and How to Exchange Bitcoin to ZAP?
The crypto world has been buzzing for many years now since its inception and we have seen many innovations rise in the crypto sector. For many of us, the common terms in crypto space are no longer strange to us. However, the speed at which the crypto world is advancing means we may not be keen on some terms and innovation being conducted in the industry. For example, terms like bonding curve and oracle are something that is quite new in the crypto space and they are brought to light by the recent DeFi boom. Zap protocol (ZAP) is one of the platforms that are formed around innovations like those mentioned above.
ZAP coin represents one of the pioneer decentralized oracle platforms with its mainnet launched as early as January 1, 2019. Let’s move to the main question. What is a ZAP coin? We believe before seeking where to buy ZAP coin, it is necessary to understand what ZAP coin is all about.
What is Zap?
ZAP is a native cryptocurrency for the Zap protocol. Central to Zap Protocol is their mission to build critical infrastructure to power the next wave of decentralized applications. This includes providing price feeds to support decentralized financial tools and infrstruсture. A key aspect of ZAP’s multifunctionality is that ZAP coins are burned and minted in relation to each applicable activity carried out by a user relating to the creation of bonding curves. Bonding curves are explained in the further sections below.
Due to this fact, the circulating amount of ZAP coins changes by the second. The ZAP token is presently being actively traded in more than eleven markets of which Swapzone can help bring the best ZAP exchange with the best ZAP rate closer to you by aggregating them. The number of exchanges can decrease or increase owing to the protocol’s bonded curves functionality. To bring up the numbers, the token has a circulating supply of 236,144,465 and a total supply of 520,000,000 ZAP as of August 15, 2021, according to CoinMarketCap.
Zap crypto is the first publicly available decentralized oracle platform. Its development works began as early as 2017 and it was eventually released in January 2019. At the same time, its ZAP coin was launched. The Zap protocol’s take on token creation, DApps, and data sharing is innovative and adds that to the ability of the protocol to enable users to set bonded pricing curves. All these turn the Zap network into a multi-functional blockchain capable of hosting a diverse range of decentralized apps. The ultimate aim of ZAP is to become an all-in-one solution for investors, developers of DApps, and enterprises seeking to integrate the decentralized nature of blockchain into their set-ups.
The brain behind Zap
The brain behind this innovative protocol is Nick Spanos, who graduated from the New York Institute of Technology with a computer science degree. Nick has an extensive tech background and hit many key milestones in his professional career. Nick Spanos became involved in blockchain technology as early as 2013. He became a member of the Bitcoin Foundation in 2013 and also established the Blockchain Technologies Corporation as well as Bitcoin Center. It was in 2017 that he began his work on the Zap protocol. Nick also has two patents for inventing the multi-branched blockchain and organizing the blockchain paper ballot voting process.
Key features of Zap project
ZAP is all about combining all the possibilities that blockchain has to offer into one single blockchain. That is the major selling point for the Zap protocol – creating a multi-functional network where other blockchain protocols generally focus on one vital area of blockchain.
On the Zap network, users can launch stablecoins, create highly liquid tokens and DApps, issue ERC20 tokens, utilize the blockchain network for logistics and tracking, etc. Due to this versatility, Zap is the go-to blockchain network for enterprise development with organizations like JuJu Rentals, Cafe Joe USA, and Energy Rentals using the Zap protocol.
- The Oracle Creation Toolkit
The Oracle Creation Toolkit is meant for devs, however, the toolkit is very simple to follow for the creation of your own oracle. There is a Zap-oracle-template, which is like an almost-ready-made code that you can use to set up your oracle and endpoint and have it running in simple few steps. That means all the hard work is already done for you by Zap.
- Instantaneous liquidity via Bonding Curves
Zap’s bonding curve is a smart contract that enables the generation of secondary tokens that have their value based on a predetermined floating price point. The token is generated via staking of value to the smart contract. The key highlights of this feature are:
- The price points are pre-determined as supply increases
- Instant liquidity
- There is no need for a matching exchange or engine, given that everything here is done on-chain and taken care of by smart contracts.
How to exchange Bitcoin to Zap?
To exchange ZAP, you will need a reliable platform that can help facilitate your BTC ZAP exchange. That is easily done on a platform like Swapzone that acts as a ZAP exchange aggregator for your BTC to ZAP swapping. On Swapzone, you get all the best BTC to ZAP rates in the market from all their exchange partners. Further details on how to complete the exchange on Swapzone are provided further below in this article.
Is it possible to buy Zap coins on Swapzone?
Yes, it is possible to buy ZAP coins on Swapzone and this is how you can do it. Getting ZAP coins on Swapzone is quite easy.
Step 1. Visit the website and select the ZAP coin pairing that you want to exchange, for example, you can select the BTC ZAP pairing.
Step 2. Before you proceed to select the ZAP coin exchange you want, ensure you know the exact amount of ZAP tokens you want to buy.
Step 3. Input the desired amount of ZAP coins you want then the site will pull up all the ZAP exchanges.
Step 4. Select the ZAP exchange that suits you by clicking on the “exchange” button.
Step 5. Input the address where you want to receive the ZAP crypto.
Step 6. There is also an option for a refund address, which is the address where the asset you are swapping will be refunded to incase of any issues.
Step 7. Click on the “proceed the exchange” button to carry out the exchange.
Step 8. Please, don’t forget to rate the exchange and leave a review.