CRYPTO PROJECTS

Thorchain: Why RUNE Is Rallying? More Potential?

Thorchain signs many unique updates and shining among top DeFi projects.

Thorchain signs many unique updates and shining among top DeFi projects.

All the craze around the crypto market makes it easy to forget that history is being made right this moment. Many of the coins and tokens seeing record growth are those belonging to crypto projects that will change the financial system forever. ThorChain is one such project and it recently launched the first-ever decentralized exchange that lets you swap between native cryptocurrencies even privacy coins.

As part of the launch, ThorChain’s RUNE token became a coin on its own blockchain and has continued to see strong growth despite the recent market downturn. Today, I’m going to explain what ThorChain is how it works, and why RUNE is one of the most valuable cryptocurrencies on the market.

Website: https://thorchain.org/

What Is ThorChain?

ThorChain was founded by a pseudonymous team of cryptocurrency developers at a Binance hackathon in 2018. The project technically has no founder and none of its 18 self-organized developers has a formal title of any kind.

Many of ThorChains resources were also created by its community most notably, the ThorChain website. This would be concerning, were it not for the incredible transparency of ThorChain’s core operations.

Development updates are published Medium on a weekly basis, and treasury reports are published every month.

All of ThorChain’s code is open source and this code has been audited seven times by well-known auditing firms like Certic and the Gauntlet.

ThorChain also raised more than two million dollars between the private sale and seed sale of the RUNE token and raised an additional quarter-million dollars from its IEO on Binance. I’ll get back to RUNE in a moment. Read More…

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