What is the purpose of a swap?

Could you please elaborate on the purpose of a swap in the world of finance and cryptocurrency? Is it primarily used for hedging risks, taking advantage of market inefficiencies, or for some other strategic reasons? I'm curious to understand the motivations behind engaging in a swap and how it can benefit various parties involved in the transaction. Additionally, are there any specific types of swaps that are more prevalent in the cryptocurrency space, and what sets them apart from traditional swaps in the traditional financial markets?