Nedir (What it is):

THORChain is a decentralized liquidity protocol that allows users to exchange cryptocurrencies between different blockchains. This protocol allows users to make transactions without giving up ownership of their assets and without the need for a central intermediary.

Niçin (Why it exists):

Existing decentralized exchanges (DEXs) often use wrapped tokens when transferring assets from one chain to another. This causes users to lose ownership of their assets and is exposed to additional security risks. THORChain aims to eliminate this problem by offering a decentralized liquidity solution that exchanges native assets directly between chains.

How it works:

THORChain works through liquidity pools. Users can provide liquidity by depositing their cryptocurrencies into these pools. Other users can exchange assets between different chains using these pools.

THORChain consists of a network called nodes. These nodes are responsible for validating transactions and ensuring the security of the network. RUNE is the native token of the THORChain network and is used to provide liquidity, participate in network governance, and ensure security.

Who uses it:

THORChain is useful for users who want to trade in decentralized finance (DeFi) and do not want to shed ownership of their assets.

What the future holds:

THORChain is thought to potentially be used more with the growth of decentralized finance. However, since the protocol is still relatively new and evolving, its future is uncertain.

Detailed Information:

  • Supported Assets: THORChain supports many popular assets such as Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Tether (USDT) and Cosmos (ATOM).

  • Transaction Fees: THORChain collects transaction fees with the RUNE token. Fees vary depending on trading volume and liquidity pool.

  • Security: THORChain is protected by a number of security features provided by the nodes.

  • Roadmap: THORChain team continues to improve the protocol and add new features.

Additional Information:

  • THORChain is one of the first projects focused on “cross-chain” exchanges, a new trend in decentralized finance (DeFi).

  • THORChain is built on Cosmos SDK and can easily integrate with other Cosmos-based chains.

  • THORChain has an active community and a strong developer team.