NBTV: Your Money, Your Data, Your Life The End of Centralized Exchanges: THORchain
Cryptocurrency holds the key to our decentralized and permissionless future. But one of the biggest problems in cryptocurrency is that all of these decentralized blockchains are like isolated islands. You have the bitcoin blockchain, the ethereum blockchain, the cardano blockchain. And to move from one island to another you have to rely on gatekeepers: centralized exchanges. They can deny you access, seize your funds, they can be shut down by governments or forced to delist certain coins.
There have been experiments with decentralized exchanges, but none of them have achieved the success of something like Uniswap -- a major breakthrough in dexes that allows you to exchange assets within the walled garden of Ethereum.
But now there’s Thorchain: It’s like a highway connecting these islands. A cross-chain Uniswap. It allows people to move assets from one chain to another freely, without KYC, without them losing control of their funds, without them having to get permission first.
Plus you can earn yield on your native assets.
I chat with Thorchain community member Chad Barraford about how Thorchain and the Rune token work.
Edited by Lee Rennie
Watch on LBRY!
https://open.lbry.com/@NaomiBrockwell:4/what-is-thorchain:3?r=9mvuwPzyZX55TFcyh5Yhwgm8HEXsrtSm
Shout outs to Erik Voorhees for his great breakdown of Thorchain, and Chad Barraford for answering my flood of questions!
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