Bankless Is THORChain (RUNE) Undervalued? with Erik Voorhees and Chad Barraford
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Nov 28, 2023 Join Erik Voorhees, Bitcoin OG and founder of Shapeshift, alongside Chad Barraford, a core developer at THORChain, as they delve into the groundbreaking liquidity protocol THORChain. They explore how it enables seamless cross-chain transactions without intermediaries, emphasizing its unique architecture. The discussion touches on the economic security model of the RUNE asset, the advantages of decentralized trading, and future developments to enhance trading capabilities. Discover why THORChain could be a game-changer in the crypto ecosystem!
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Thorchain's Purpose
- ThorChain is a cross-chain decentralized exchange (DEX) similar to Uniswap.
- It allows swapping layer-1 assets like BTC and ETH without intermediaries or wrapped assets.
Shapeshift's Thorchain Integration
- Shapeshift initially was non-custodial but still acted as an intermediary, leading to regulatory pressures.
- Thorchain enabled Shapeshift to become truly decentralized, similar to a protocol version of its initial function, by removing the need for KYC.
Thorchain's Technical Mechanism
- Thorchain validators run full nodes of each supported blockchain, observing transactions on relevant addresses.
- The system uses threshold signatures for security and only requires users to sign transactions on their native chain.