What is THORChain?
THORChain is an independent crypto network created to allow the exchange of digital assets across blockchain networks instantly. It shows a cross-chain bridge system, called the Bifrost Protocol, designed to connect different chains together. THORChain also uses a version of Bancor’s “smart tokens,” called Continuous Liquidity Pools (CLPs), to make the exchanges possible. THORChain users are rewarded with its native token, called a RUNE, by the CLPs for their contributions to the asset pool. The RUNEs can be added to the asset pool or used for exchanges. There are no pegged or wrapped tokens.
THORChain was created in 2018 to correct the flaw inherent in centralized exchanges as crypto assets are moved between blockchains. Decentralized exchanges (DEXs) were thought to be the solution to these flaws. THORChain performs like a DEX as it bridges to different blockchains.
Many DEXs have a problem that the THORChain project team has tried to address. DEXs sometimes have difficulty finding an adequate amount of liquidity. Traders are responsible for providing liquidity to prevent slippage, but they often prefer platforms where they don’t have to worry about losing value to slippage. This is where the smart token helps. It creates the CLPs, which are pools of ready assets, so traders have the security of liquidity without the aid of another seller or buyer.
Traders may swap between any connected assets.
They pay a fee for access to the liquidity pools.
There are no third-party swaps.
Traders may swap from any supported wallet.
THORChain is designed to give users an unparalleled experience with permissionless access and open financial protocols. Users are given assess to a broad selection of assets because of the cross-chain feature and their simple asset listing.
THORChain uses Tendermint BFT (Byzantine Fault Tolerance) for consensus and the Proof-of-Stake for Sybil resistance.
To trade in THORChain, the top exchanges are VCC Exchange, Binance, Binance KR, FTX, and Hoo.
What are THORChain Frequenty Asked Questions?
Where does THORChain (RUNE) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, THORChain currently ranks in position 63 out of the thousands of cryptocurrencies. It is also important to consider THORChain‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. THORChain has a market cap of $ 1,165,667,279, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 873,150,612,783, Litecoin at $ 11,499,341,497, Ethereum at $ 170,965,507,565, Tether at $ 36,309,551,516, and XRP at $ 21,075,191,061.
What is the price of THORChain (RUNE) today (updated in realtime)?
The current price of THORChain is $ 5.03 in USD. (The price in Euros is 4,16 €; and the price in Bitcoin is Ƀ 0.00010800 BTC.)
What is THORChain‘s (RUNE) market supply?
The total available supply of THORChain is 231,775,761 RUNE. The total supply of THORChain is 500,000,000 RUNE.
What is the 24 hour volume for THORChain (RUNE)?
The 24 hour volume for THORChain is $ 59,081,840.
How has THORChain (RUNE) performed recently?
THORChain‘s price has decreased in the last 24 hours by -10.74%. This compares with a seven day change of 11.56%. The trading volume over the last 24 hours was $ 59,081,840. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is THORChain (RUNE) official website?
Links to THORChain‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has THORChain (RUNE) performed well historically?
Here is a chart showing how THORChain has performed historically.
Where Can I Buy THORChain (RUNE)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
- A dark horse in the Ethereum scaling wars? Chainlink’s oracles find fertile ground on xDaiCointelegraph.com News - 8 hours agoChainlink is rolling out support for xDai, a layer-two sidechain whose perceived centralization hasn’t stopped major DApp players. Chainlink (LINK) oracles have made their way…
- Binance Smart Chain 'copykat' project loses $31 million in possible rugpullCointelegraph.com News - 8 hours agoUsers now need to ask: how many more protocols are at risk? At roughly 9 am UTC today Meerkat, a decentralized finance (DeFi) protocol on…
- Unslashed Finance raises $2M for crypto insurance platformCointelegraph.com News - 10 hours agoInvestors include Lemniscap, P2P capital and others. Unslashed Finance has sold $400 million in coverage since its private launch last month. Unslashed Finance, a decentralized…
- BitGo receives trust license from New York regulatorsCointelegraph.com News - 10 hours agoGoldman Sachs-backed crypto custodian BitGo has acquired a New York Trust license to operate as an independent custodian in the state. Major American digital asset…
- Where does the future of DeFi belong: Ethereum or Bitcoin? Experts answerCointelegraph.com News - 11 hours agoHere’s what decentralized finance experts think about either Ethereum or Bitcoin as the future of DeFi. Decentralized finance is one of the most promising and…