But, as the basic idea of cryptocurrencies is decentralization, Thorchain arrives as a savior that tries to attack this problem. Since it was created, it has had the idea of developing a fully decentralized marketplace that allows functions such as cross-chain, and thus exchange cryptocurrencies from different blockchains without custody of third parties.
Therefore, starting tomorrow, April 13, THORchain will release a new feature that promises to take a big step into the future. An MCCN will be implemented on THORChain's chaosnet platform. For the first time there will be the possibility of token exchanges and trustless trading for Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Binance Coin (more tokens will be supported later). And the best thing is that it has no bridges, it has no wrapper, it is simply native assets exchanged between chains in a completely decentralized way.
One of the biggest problems with so many tokens is the exchange between chains. Since bridges, synthetic assets or variants of wrapped tokens must be used, as well as third-party custodians like wBTC's BitGo, which generates a bit of distrust, is slow and has fees all over the place.
That's why this MCCN will be revolutionary, and the way this DEX will work will be something like this:
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You have in your wallet the native tokens BTC, ETH, Litecoin BCH, BNB, the DEX would do a quick exchange of BTC to RUNE, which is then exchanged from RUNE to ETH or any other token you want. This is all done at high speed to ensure that the user is not affected by intermediary or third party trading.
This will be a very big step into the future of decentralized finance because for the first time you can make changes quickly and smoothly, many of us when making changes from one token to another may feel that we will lose our money at some point, but something that will generate a high level of confidence, is that this cross-chain is something that THORchain has been working on and perfecting constantly, so this project has solidity.
As we all know Khal is a big cryptolover of RUNE and THORchain, that's why we see how he is also implementing revolutionary features in Cubdefi and leofinance, with the upcoming implementation of new exchange systems in cubdefi, Kingdoms and Leobrigde. But the best thing is that CUbdefi goes further, since besides having the possibility of being a bridge between blockchains (moving money from Ethereum chain to BSC and vice versa with a single click) you will have the possibility of earning tokens everywhere you look. If you want to know more about the kingdoms function, I invite you to read Cub Finance Audit is Live | $20m TVL, Kingdoms Update and LeoBridge.
In conclusion, we are seeing some big moves in the crypto ecosystem so get ready for more to come...
Posted Using LeoFinance Beta
