THORChain is a native blockchain and decentralized exchange (DEX) focused on facilitating asset swaps across layer-1 blockchains that are otherwise generally siloed. Constructed via Cosmos-SDK and Tendermint, THORChain’s blockchain has RUNE as its native asset. THORChain’s mainnet blockchain went live in June 2022.
The THORChain crypto project explained
Multiple different blockchains exist, each with their own rules and limitations. Therefore, blockchains have historically been relatively siloed, lacking the ability to communicate with each other or the outside world without help. Trading Bitcoin (BTC) for Ether (ETH) on their distinct native blockchains would not work, for example. THORChain, however, makes this type of swap possible.
In tandem with its native blockchain and asset, THORChain functions as an automated market maker (AMM) — a type of DEX that utilizes liquidity pools instead of a typical exchange order book. Put simply, via this system, THORChain makes it possible for users to swap assets that reside on their own siloed blockchains, without a third-party off-chain platform. This differs from wrapped tokens, which are essentially asset-backed tokens created to run on top of other blockchains. Wrapped tokens are not the actual assets they represent, but they aim to carry the same price value.
THORChain uses liquidity pools. Each liquidity pool is composed of two assets. RUNE — THORChain’s native asset — must be one of the assets in each pair. Since RUNE is 50% of each THORChain pool, it acts as the common denominator to facilitate swaps between assets of different blockchains. THORChain cross-blockchain swapping is compatible with multiple different networks, including the Bitcoin and Ethereum blockchains.
THORChain’s RUNE
RUNE is the native asset of the THORChain blockchain. RUNE holds a number of purposes in THORChain’s ecosystem, such as governance. The RUNE price today is shown at the top of the page. A THORChain price chart (RUNE price chart) is also available above, showing THORChain price history via RUNE’s previous price action. With prices for crypto assets such as RUNE fluctuating notably over time, it would not be abnormal to see a RUNE price prediction from time to time.
