A plain-language explanation
SWL, i.e. link exchange system, is a mechanism for automatically publishing links on many websites, with a high risk of violating search engine rules.
Where it helps in practice
A link exchange system automates link placement and can create artificial patterns that conflict with quality and search guidelines.
The decision before implementation
Do not treat link volume as strategy; assess origin, placement control, risk and safe removal.
How to verify the result
Monitor sudden growth, anchors, domains, warnings, manual actions and reputation impact rather than volume.