Cryptocurrency Q&A
What network is THORChain on?
What network is THORChain on?
Maria
Wed Sep 11 2024
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6 answers
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Could you please clarify for me which network THORChain is built on? Is it based on a popular blockchain like Ethereum or Bitcoin, or is it utilizing a lesser-known network? I'm interested in understanding the underlying technology and infrastructure that THORChain employs to facilitate cross-chain swaps and liquidity pools. Additionally, are there any specific advantages or benefits to using the network that THORChain has chosen? Thank you for your time and consideration.
6 answers
CryptoEnthusiast
Fri Sep 13 2024
THORChain is a pioneering Layer-1 blockchain that leverages the advanced Cosmos SDK and Tendermint consensus protocol. This robust foundation allows for seamless integration and scalability, positioning THORChain as a formidable player in the blockchain ecosystem.
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CherryBlossomFalling
Fri Sep 13 2024
The core function of THORChain is to facilitate cross-chain transactions, enabling users to seamlessly swap assets across different blockchains without intermediaries. This feature is of utmost importance in the ever-evolving world of cryptocurrencies.
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DigitalDynastyGuard
Fri Sep 13 2024
As a permissionless decentralized exchange (DEX), THORChain democratizes access to financial services by removing barriers to entry. Users can participate in the exchange without the need for approval or permission from centralized authorities.
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KimchiQueenCharmingKiss
Fri Sep 13 2024
THORChain employs the automated market maker (AMM) model, which utilizes smart contracts and algorithms to maintain liquidity and facilitate trades. This model ensures efficient and cost-effective transactions, making THORChain an attractive option for traders and investors alike.
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SejongWisdomKeeperElite
Thu Sep 12 2024
Among the various exchanges in the cryptocurrency space, BTCC stands out as a top-tier platform. Offering a comprehensive suite of services, BTCC caters to the needs of both retail and institutional investors.
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