Latest THORChain updates on March 28th

THORChain is a cryptocurrency project that has seen a busy start to March. On 28th March, the Devs and Security teams determined that a potential vulnerability claim was credible but would require a major protocol change to address. On the same day, the network was preemptively paused to investigate a report. On 27th March, a great talk was held about how THORChain leverages decentralized finance. On 24th March, a user added $18.2K to the savings vault and on 22nd March it was announced that native Bitcoin could be bought directly from the XDEFI Wallet. On 20th March, it was reported that THORChain was cashflow positive and on 17th March, a major FerzWallet update was announced.

What is THORChain ?

THORChain is a decentralized and autonomous cross-chain liquidity network that allows users to swap or pool cryptocurrencies, such as Bitcoin, Ethereum, Binance Coin, Litecoin, Bitcoin Cash, Dogecoin, Atom and AVAX, with ease. It is built on the cutting-edge technology of blockchain and is powered by a native token called RUNE.

The main mission of THORChain is to provide an efficient and secure way to decentralize cryptocurrency liquidity. It eliminates the need for centralized exchanges and provides access to its native and cross-chain liquidity to anyone, regardless of their location or financial status.

THORChain is governed by a network of public THORNodes that are responsible for verifying transactions and maintaining the security of the network. The nodes are distributed all over the world and are constantly monitored to ensure the smooth functioning of the network. In addition, the network features advanced security measures, such as multisig wallets, that are designed to keep users’ funds safe and secure.

To get started with THORChain, users must first set up a wallet and connect it to the network. Once connected, users can begin to swap or pool their cryptocurrencies via one of several THORChain interfaces. Additionally, users can also access the THORChain Ecosystem, which provides tools and resources for developers, explorers, and traders.

The THORChain Ecosystem includes products such as Trust Wallet, a mobile wallet for iOS and Android users, and Savers, a platform for earning yield on their cryptocurrency holdings. Additionally, the Ecosystem also includes THORFi, a decentralized finance platform, and BSC Integration, a platform for connecting to Binance Smart Chain.

The RUNE token is the native token of THORChain and is designed to be a source of deterministic value. The token is used to incentivize node operators, pay transaction fees, and reward users for providing liquidity to THORChain liquidity pools. By locking RUNE into THORChain liquidity pools, users can benefit from deterministic value and gain access to the network’s native and cross-chain liquidity.

THORChain is constantly innovating and expanding its network to provide users with the best possible experience. With its advanced security measures and growing ecosystem of products, THORChain is well positioned to become the premier decentralized and autonomous cross-chain liquidity network.

This article was published on 2023-01-29 by Marc Endevor. Information shown in this article was gathered from the project’s website and Twitter account. Coinvestigate cannot guarantee the accuracy of this information, or any news that may have impacted the project in the meantime.