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THORChain’s Native Blockchain Went Live on Seven Supported Networks

THORChain’s Native Blockchain Went Live on Seven Supported Networks


Cryptoknowmics
2022-06-24 11:25:47
THORChain’s Native Blockchain Went Live on Seven Supported Networks

After nearly four years of development, THORChain’s native blockchain went live on seven supported networks, developers announced in a post on Thursday. Without using bridges or wrapped assets, users of THORChain can exchange bitcoin (BTC) for any other supported asset. Bridges are protocols allowing users to trade currency from several blockchains using smart contracts. THORChain has committed a total of $1 million in RUNE to Binance users through a 14-days promotional campaign from June 23rd to July 7th, 2022. Currently, the protocol allows for trades between the following seven significant ecosystems: bitcoin, ether (ETH), rune, Dogecoin (DOGE), Litecoin (LTC), and Binance coins (BNB) (RUNE). According to developers, support for Cosmos (ATOM) and Avalanche (AVAX) is imminent. The ethos of decentralization, self-custody, verifiability, and open source development that has made Bitcoin successful is uncompromised and ingrained in the foundations and heart of the Protocol and the community. (4/8) — THORChain (@THORChain) June 22, 2022 Decentralized Exchanges According to its developers, the protocol will focus on connecting with more decentralized exchanges (DEX) and exchange aggregators after the mainnet deployment. On THORChain’s decentralized autonomous organization (DAO), community members can suggest new features, but node operators ultimately decide which features will go live. According to engineers, the previous networ...

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