SwiftCoin was released in 2011 by Team Daniel Bruno. It’s an open-source digital cryptocurrency that uses blockchain and peer-to-peer technology, just like Bitcoin. It also employs the same SHA-256 hashing algorithm and the technology is also used for encrypted email.
SwiftCoin gets its name from the SWIFT banking network, even though it has no links to it. Another interesting fact: it isn’t possible to mine SwiftCoin.
SwiftCoin’s value is a function of the amount of energy that’s needed to produce it, and it’s also shaped by the laws of supply and demand. The cryptocurrency features real-time Proof-of-Work confirmations.
On 9th July 2013, USPTO granted Daniel Bruno the SwiftCoin trademark, and in the following year, he was also granted a patent for the cryptocurrency in the US.
In March 2016, the Daniel Bruno Team announced a $10,000 reward to anyone who could hack SwiftCoin’s encryption. No one good, so the contest closed on April 1st. On July 25th of that year, SwiftCoin made its debut in the Google Play Store under the name ‘John McAfee SwiftMail’.