Wednesday, October 4, 2023

What is THOR Chain?


THOR Chain is a first-of-its- kind DEX allowing crypto trading between means on different blockchains.

Simply put, THOR Chain eventually makes it possible to trade BTC on the Bitcoin blockchain with ETH on the Ethereum blockchain. This is each without custodial interposers.

Gradually from THOR Chain, the only other places you can trade native, unwrapped cryptocurrencies are centralized exchanges. But in that case, you are dealing with an order book which means it is possessed by the exchange. So, THOR Chain is, potentially, revolutionizing. The platoon behind THOR Chain may not have created the multi-chain DEX conception. However, they are the first to deliver one.

THOR Chain’s cross-chain capabilities also take it beyond bare DEX. As value accumulates to blockchains not Bitcoin and Ethereum, the need for a cross-chain liquidity aggregator like THOR Chain is clear.

Ready to learn further about THOR Chain along with RUNE token workshop?

About THOR Chain

Anyone familiar with Uniswap knows you can only trade Ethereum ERC-20 means there. What if you could trade means, anyhow of blockchain, without belting them first? That is what THOR Chain does. THOR Chain is a decentralized exchange trading crypto from different blockchains without pegged, wrapped, or replicas. Before diving further into this point, let us back up and contextualize why multi-chain DEX matters. In short, THOR Chain is a decentralized liquidity protocol like Uniswap.

The way decentralized liquidity pools work — and this is true for THOR Chains and — as it follows liquidity pools it replaces the CEX model of custodies means and order books. Anyone can be an LP by furnishing two means to the pool.

Smart contracts automatically execute barters between dealers and the liquidity pools. This step removes the need for counter parties. THORChain differs from the usual decentralized liquidity pool protocol. This is because it can take means from one blockchain and shoot out means from another.

THOR Chain solves the cross-chain asset exchange problem that has agonized crypto for times with a complex yet brilliant medium

The THOR Nodes

THOR Nodes are the Key to Cross-Chain Swaps. Suppose you want to trade ETH for BTC. To do so, the DEX you use needs to have the requirements to support native, unwrapped performances of those means in its liquidity pools.

In other words, a liquidity pool needs to hold factual ETH and BTC so that it can shoot them to you when you change. Uniswap and other Ethereum- grounded DEXs cannot do this (yet) because there are only ERC-20 standard liquidity pools and druggies with further ERC-20 commemoratives.

To support native cross-chain asset barters, THOR Chain introduced THOR Nodes into the blend. A THOR Node is a THOR Chain knot driver. It contemporaneously runs bumps on other blockchains like Bitcoin, Ethereum, or Litecoin.

THOR Chain’s decentralized liquidity protocol is made up of holdalls on different blockchains. This is so that when you deposit ETH, it goes to a native ETH portmanteau, and BTC goes to a native BTC portmanteau. THOR Nodes check and corroborate deposits made to these holdalls; they also give the OK for transfers by concertedly subscribing a multi-sig sale.

Miguel Garcia
Miguel Garcia
Miguel Garcia is a writer for Cryptoconstellation. Miguel has always been fascinated with Crypto. He has experience in Business and finance. Miguel loves sport cars and football.

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