Eric Warhis, CEO of Shift Exchange and one of the most famous figures in the field of digital currencies, believes that the most important event of this week in the digital currency industry is not the offering of Quinn Base shares on the stock market. He mentioned the launch of Thorchain as the most important event of the week.
to the the report Coin Telegraph’s Erik Voorhees, CEO of ShapeShift and a leading figure in the digital currency industry, believes the launch of Thorchain is the biggest crypto event of the week.
Warhis’s claim is very interesting given that all eyes are on the direct listing of Coin Bass on the Nasdaq Stock Exchange this week. The potential value of the coin base is estimated at $ 140 billion, according to the FTX.
The launch of Turchin is scheduled for April 13 (April 24). By launching Turchin, a proprietary digital currency asset can be traded on a decentralized exchange (DEX) through unique blockchains without the use of bridging technology or tokens backed by another digital currency (Wrapped). This is the first time this has happened in the digital currency industry. In a tweet on April 12, Warhis claimed that launching a decentralized exchange within a dedicated chain would create a new realm for digital currencies. He wrote on Twitter:
Turchin has no bridge. Does not use rapping. This is a proprietary asset that is exchanged in a decentralized manner between chains, and this is the first time this has happened.
He also wrote:
Turcin will be unveiled tomorrow. A decentralized exchange within a dedicated chain. Something that has never existed before. Definitely the biggest crypto event this week. However, its importance may not be clear for the next one to two years. Join us at Clubhouse tomorrow to discuss this.
The unveiling ceremony of Turchin will take place on Tuesday at 18:00 Eastern Time Zone (3:30 AM on Wednesday, April 15, Tehran time) on the Clubhouse Social Platform. Some well-known figures in the field of digital currencies such as Eric Warhis and several CEOs of Shipshift, Tushar Jain, Managing Partner at Multicoin Capital, Yan Liberman, co-founders of Delphi Digital and Delphi Digital Several other people will attend the event.
The decentralized exchange will initially host Bitcoin, Ethereum, LightCoin, BitcoinCash and BainCoin currencies and intends to support other digital currency assets in the future.
Turchin acts like other automated marketers; But the important point of difference is that it allows you to trade and convert digital currency assets from completely different blockchains and networks.
Torchin is based on the Tendermint consensus protocol, which is also linked to the Cosmos ecosystem. This exchange is supported by a dedicated RUNE token that acts as collateral to facilitate transactions.
When blockchains are added to the network within the Turchine chain, the assets will be supported by a protocol called Chaosnet. Cassent allows assets to be exchanged without relying on third parties such as Bitcoin-backed versions.
For example, to exchange bitcoins with Ethereum, the exchange exchanges bitcoins with the digital currency RUNE and then converts it to Ethereum. This is done at high speed to ensure that the user is not affected by the broker.
Demand for intra-chain solutions, especially in the decentralized finance sector (DIFA), has increased. On April 8, it was reported in the media that Alameda Research had invested $ 3 million in the ChainSwap strategic financing phase. Swap is an in-chain asset and application center.
Torchin is also developing a dedicated wallet called Asgard X that communicates directly with the Kiasent protocol. This allows unique blockchain tokens to be held in a single wallet.
According to Coin Geeko, the platform’s proprietary token, called RUNE, has risen significantly, rising 13 percent in the past 24 hours to a new all-time high of $ 12.65.