WHAT IS THORECHAIN OR RUNE AND HOW IT WORK

WHAT IS THOSE CHAIN OR RUNE AND HOW IT WORK

WHAT IS THOSE CHAIN OR RUNE AND HOW IT WORK

TL DR

THORchain is a decentralized inheritance protocol that allows users to modify assets and parameters without permission. This allows you to exchange local layer 1 assets, such as acting as a BTC store manager. To secure your network, THORchain uses Tendermint and Cosmos-SDK. It also uses threshold signature systems (TSS) for its unmanaged basic security.

Introduction

Developed by the team involved in THORchain 2018 Binary Dexton (Decentralized Exchange Token Contest). THORchain facilitates cross-cutting flexibility and reduces the need for centralized exchange with third parties within the Defi space. It allows trans-China soup and productive assets in assets such as Bitcoin and Ethereum.

How does THORchain work?

THORchain is a Layer 1 network compatible with the Cosmos SDK and Tendermint. THORchain operates on a decentralized, unlicensed cross-exchange (DEX). It also uses Threshold Signature Systems (TSS) to lock unmanned asset vaults. Both Tendermint and TSS provide a mechanism similar to the Byzantine Fault Tolerance (BFT) layers, and two-thirds of the funds are required to enter and leave the TSS core treasury.

There are four main types of users in the THORchain ecosystem:

Flexible pool users for transferring assets.

These liquidity providers add liquidity to the pool and receive rewards.

The operators of these contractors make bonds and payments to secure the system.

These traders monitor and balance the pool for profit.

Unlike other Chinese protocols, THORchain does not summarize assets before conversion. Instead, THORchain uses local resources to provide free and open content.

Transfer of assets through financial investigation is permitted. These pools consist of assets that have been developed in partnership with flexibility providers and acquired through a network of contract operators. Settlement providers deposit their assets in THORchain liquidity pools to make a profit, including sweep fees and system bonuses. Anyone can add flexibility to the existing pool, which does not allow the use of THORchain. In addition, THORchain is not affected as only the original collector can return the assets deposited in the pool. Liquidity providers may propose a new pool of assets if these assets act as ecosystem tokens.

Node operators, called THORNodes, are independent and interact with each other to create networks within the chain. In return for maintaining the network, they will be rewarded with a fee for each change. Before becoming a node operator, the user must submit RUNE shots. These debentures are securely secured to ensure that contract operators work in the best interests of THORCHIN. The total bond size should be double the RUNE bond.

During the exchange of assets, the switchers will send their assets to THORchain and receive another. For example, when converting BTC to ETH, the clearinghouse will send BTC to THORchain. When BTC enters the network, BTC will have a RUNE swap and then RUNE will have an ETH swap. The ETH will then be sent to the compiler from THORCHIN VALT. This process allows THORchain to convert assets locally without any problems.

The market value of THORchain is regulated by Mani Traders who define a fair exchange value. They look for junk products in commercial markets to take advantage of the price difference. This method allows the THORchain market prices to be regulated naturally without the need for Oracle.

Using this liquidity pool model, THORchain can determine the value of any asset from any other asset using only the pool balance. In fact, THORchain acts as flat manager managing deposits and withdrawals by applying a polling report on asset prices. This helps to create a decentralized trend by removing the central center.

What makes THORchain unique?

THORchain is a DEX that does not require an asset change envelope. Other benefits of THORchain include:

Importers and exporters

Able to transfer real assets of Tier 1 to multiple blockchains.

They do not need to register - anyone can submit a transaction and process the THORchain soup.

They don't have to pack up their assets - they use THORchain to replace their offshore asset vault.

It can get a fair and transparent price without having to rely on third parties or Oracles.

Enjoy on-demand leverage at all times.

Supplier 

Earn revenue from crowded assets - BTC, ETH, BNB, and local LUNA.

Get 100% protection from permanent damage (IL) after staying in the pool for 100 days.

There are no locks yet.

No registration is required.

No need to deal with third parties.

Node Operators

Rewards when they secure networks.

They are encouraged to remain anonymous to promote decentralization.

No registration is required.

What is RUNE?

Local dry from RUNE THORCHAIN. Within the network, it serves as a basis for users to exchange RUNE with anyone who supports it. There are four major cases of over 500 million supplies and uses regulation, security, governance, and privileges.

Rune as compensation.

RUNE is a compact origin of all liquidity poles, making it easy to switch between two poles. Each group requires a 1: 1 ratio of RUNE: ASET. For example, a pool of 100,000 BTC would cost RUNE $ 100,000.

Rune for safety.

To ensure security, node operators must double the amount of RUNE they add to the pool. RUNE's responsibilities are formally taken to ensure that node operators work in the best interests of the network.

Rune Governance

With RUNE codes, you can choose your favorite characters or series. They do this by classifying their flexibility. For example, a highly customized pool containing RUNE would be a high priority.

Rune for inspiration

Block rewards and exchange fees are paid to flexible providers and contract operators according to the RUNE issuance schedule. RUNE can also be used to pay for gas.

The smallest RUNE team, called the Tor, is today's decimal. RUNE means to move towards a predictable deployment value. By design, RUNE's market value must be at least three times the total value of non-RUNE assets in the ecosystem's liquidity pool.

How to buy RUNE with Binance?

You can buy cryptocurrency exchanges such as BINANCE at RUNE.

1. Log in to your Binance account and click [Trade]. You can use the classic or sophisticated trading mode to buy RUNE. 

2. Type "RUNE" in the search bar to see the cargo layout. We will use RUNE / BUSD for our example.

3. Go to the [Spot] box and enter the price of the RUNE you want to purchase. In this example, we will use the market command. Click [BUY RUNE] to confirm your order, and the purchased RUNE will be credited to your Instant Safe.

final worlds

As with cross-channel DEX and Defi, THORchain paves the way for free asset exchange. RUNE's design allows the THORchain swap model to be used as a secure governance and incentive solution and tool in decentralized environments and multiple blockchains.