THORChain is a cross-chain decentralized exchange that lets you swap cryptocurrencies.
- A “cross-chain decentralized exchange” is a fancy way of describing a tool that lets people convert cryptocurrencies across different blockchains (like Bitcoin or Ethereum). Think of it sort of like a place where you can swap one currency for another (except without the steep fees and markups).
Basically, you can use THORChain’s decentralized exchange to seamlessly convert Bitcoin to Ethereum, Solana to LUNA, and a number of other pairings.
Here are the big things that make THORchain unique:
- Decentralized: THORChain argues they’re the only truly decentralized DeFi exchange, which is a necessity if you want to completely remove middlemen from digital assets.
- Bitcoin: THORChain’s team has built bleeding-edge tech that allows you to seamlessly swap out your tokens for Bitcoin—a decentralized transaction that was once believed impossible.
- Essential: THORChain is a key piece of infrastructure that’s needed for cryptocurrencies to achieve full decentralization.
