Steemit Crypto Academy Contest / S13W1 - Token Swap

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Hope all will be well. This time after a long time I am posting in this academy, I mean community. That too in the form of this time's engagement challenge entry. So let's begin.

Maybe my entry post is not as long as others. But I definitely want to try. Before that I invite @suboohi @malikusman1 and @chasad75 to also read my post and express their opinion on it. And also if participate in this competition according to your choice.

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Token Swap in my own words:

I write what I understand about token swap within three days, hope I am good at researching.

Every cryptocurrency and every token is using some kind of blockchain. So when a coin or token leaves its own blockchain and converts to another blockchain, whether that blockchain is its own or another. This process is called token swap۔
Then when they are converted to the new blockchain, those tokens from the old blockchain are destroyed. Their value becomes zero.

Like EOS Coin, TRC Coin was first on the Ethereum blockchain and later they created their own blockchain and then converted to it.

Over time they built their own blockchain, and when it became a blockchain, they left Ethereum and converted token swaps on their blockchain.
It is said that they swapped one chain token to another chain. Those blockchains are such that you can easily add different blockchains on the metamask in your wallet. And the token that is on the one blockchain you are not able to get that token on another blockchain.
Like the Steem Hunt token used to be on the Ethereum blockchain. Now you can't find it on Binance Chain.

It's called the mainnet swaps too, for example EOS and other, and they swap for 1 for 1 ratio.

Why do blockchains perform a swap?

One token can be exchanged for another token. It is usually when a new blockchain is created that temporary tokens are issued to the first users. And when they take interest to creates their own blockchain, users are asked to send their tokens to that blockchain. And addresses are also issued for this. There are several reasons why this token swap happens.

There is a defined ratio, and conditions for each blockchain token to be swapped.
If two blockchains are connected, they also create their own token that can be exchanged for the tokens of both blockchains.
If a blockchain is re-opened after a long period of time, the token swap still exists.

An existing example:

There are many examples of this, but from these all. An example of this is the Tron Smart Blockchain.
Tron was originally Ethereum based token and switched it's protocol to it's own Blockchain just a year later it was launched. Tron was launched by Justin Sun in 2017 and it's swapped in 2018.

Steem Blockchain's Era:

It happened once in the Steem era too, that a separate blockchain was created, so those who had Steem tokens at that time could be converted to Hive at a one-by-one ratio.

That was a hard fork of steemit, and the coin Hive is then launched and renewed in the form of the hard fork, or token swap happened back in 2020.

Risks, for Users:

There is a risk that if the team doing the token swap is not very experienced or if the blockchain mechanism is weak, or if there is a lack of good developers, then the tokens can be easily hacked. There remains a danger of leaving.

Another risk and disadvantage for investors is that investors who are long-term now often do not know the deadline on any of website, or social media account, or blog, if they are not online, Given by the blockchain, those tokens that were to be left behind, becomes zero. And get destroyed.
Leaving the blockchain and moving to another blockchain, all coins from that blockchain are destroyed. And a disadvantage may be to the users that the old coins that are on the old blockchain are worth zero.

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