What is THORChain?
THORChain serves as a decentralized liquidity protocol that enables cross-chain transactions by utilizing Tendermint and the Cosmos-SDK, alongside implementing Threshold Signature Schemes (TSS). Instead of relying on pegging or wrapping assets, it skillfully manages asset transfers based on user activities. The protocol diligently tracks user deposits in its vaults, performs essential operations such as swaps or liquidity modifications, and efficiently handles outgoing transactions. Functioning as a decentralized vault manager, THORChain guarantees that all operations are robust against Byzantine faults. Its primary objective is to uphold a decentralized framework, preventing any centralization or market manipulation while improving cross-chain liquidity. By securing the assets contained within its vaults, THORChain offers strong economic assurances about their safety, which enhances user trust and engagement within the ecosystem. Consequently, it strives to cultivate a more interconnected blockchain landscape, providing users with a seamless experience across different networks. This commitment to decentralization and security ultimately positions THORChain as a pivotal player in the evolution of cross-chain finance.
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THORChain Customer Reviews
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THORChain + Thorwallet 👏👍
Date: Feb 22 2023SummaryI think THORChain is a somewhat hidden gem. It is used by trust wallet and others when the users make back swaps from within the wallet.
I have used Telegram to ask questions and the devs answered immediately every time.
THORChain is all set to have a great run during the next bull run.PositiveHands down the easiest way to make swaps between tokens/cryptos from one chain to another. Plus you can place your crypto into savers vaults and earn yield that is generated by swap fees onchain.
It is decentralized and thorwallet is noncustodial. Meaning you maintain control of you private keys. There are automated market makers on the way this year as well as zero intrest loans with no payback period. If you purchase and stake thorwallet's utility token TGT you can reduce your fees and earn staking rewards. All of this can be done with thorchain from within thorwallet or from a browser. There are other compatible wallets as well.
By purchasing Thorchain's native token RUNE you can benifit from it's price appreciation as the liquidity pools and savers vaults fill up. As the dollar amounts increase in these pools the node operators are required to increase the amount of RUNE they hold. So the price of RUNE increases as the value of savers vaults increases.
Thorwallet requires no KYC also. Nor does THORChain.NegativeTHORChain is almost perfect. Thorwallet is a bit slow to load data but the devs are apparently working on an update to make it more responsive.
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