THORChain Price & Charts
What Is THORChain ?
Thorchain is a decentralized liquidity network that enables cross-chain liquidity pools with no wrapped or pegged tokens. Thorchain functions on these three key elements:
- Swap between assets across chains.
- Stake assets to earn yield.
- Run a node to service the network.
Thorchain is a blockchain network that not only exchange value in a decentralized manner, in a way that’s devoid of arbitrary decisions of powerful centralized authorities. It also does not discriminate on any blockchain – chain-agnostic. This implies that, Thorchain users can connect and make use of any blockchain in a cross-chain network. A user is rewarded with the native token – RUNE whenever he/she stakes.
A Thorchain token user gets rewarded in three ways: when staking, when transferring value across chains and when running a validator node.
Other projects can stake their treasuries to give their tokens deep liquidity.
The Thorchain protocol can boost of the following key features.
- Cross-chain Asset Swaps: Thorchain allows swapping of assets in a cross-chain network at a minimal fee.
- Provide liquidity: Thorchain rewards users with RUNE tokens who stake in the liquidity pool. There is a block reward associated with staking.
- Users also earn rewards from running a Node: Users who run a node to maintain and secure the Thorchain network get rewarded with RUNE tokens.
The team behind Thorchain decides to remain pseudo-anonymous.
According to their website, transparency is demonstrated in other ways – research, code, treasury while personalities, figureheads and founders undermine decentralization.
There are 12 employees and 6 advisors mentioned in ICOBench.
Use cases of Thorchain
- Thorchain (RUNE) tokens are used for trading in many exchanges.
- Thorchain (RUNE) tokens are used for payment transactions within its network.
- Thorchain (RUNE) is a digital assets creation platform.
- Thorchain (RUNE) is used for swapping of assets.
- Thorchain (RUNE) in providing liquidity pool for projects.
Mining of Thorchain
Staking and validating a node are ways to get rewarded with a new block and RUNE tokens. It uses Proof-of-Stake consensus algorithm.
Staking involves buying of cryptocurrency tokens and holding for a specific time. The user must stake coins in the wallet for the running of the network and get rewarded with cryptocurrency tokens.
Thorchain (RUNE) tokens are available at the various exchanges for purchase.
Notes for Investors
Thorchain (RUNE) is relatively doing well in the crypto market, going by its performance of 5.7% profit in last three months. Thorchain (RUNE) is an improved version of other cryptocurrencies in addressing challenges of chain-agnostic in the blockchain space.
Presently, the unit price of Thorchain (RUNE) is $0.392002 USD (5.71%), the market capitalization is $62,105,724 USD, the circulating supply is 158,432,088 RUNE and is currently ranked 127th in the cryptocurrency market.
These statistics have shown that, Thorchain (RUNE) is relatively doing well and may spring surprises in the future, as it has already started gaining traction.
This content is not intended to endorse Thorchain (RUNE) for investment but to get readers well informed about Thorchain (RUNE).The cryptocurrency market is unpredictable and any intending investor should seek advice from his financial advisor before investing.