Leading in “cross-chain atomic swap” technology, Thor Network provides decentralized value exchange services for cryptocurrency and digital assets. By connecting the existing blockchain systems, Thor network is set to release more capabilities for the application layers built on blockchain.
The issue at hand
Blockchain is a shared ledger which is well known as the underlying technology of Bitcoin. The technology is leveraged to solve daily problems in a decentralized and trustless way. It has allowed the creation of tradable crypto-assets that are used in many industries, such as payment, finance, agriculture, Internet of Things, supply chain, games, etc. All of these tokens and assets have actual value based on the real world problems they solve.
To trade these blockchain assets and tokens, people built online exchanges on centralized systems. With the explosion of the cryptocurrency market in the last few years, there are now billions of dollars’ worth of trade conducted across exchanges around the world on a daily basis.
However, token exchange on the traditional exchanges has been plagued by scandals such as hacking and theft, poor operation, lower transparency, inside jobs, and market manipulation, not to mention the huge trading friction caused by layers of intermediaries. These are problems that centralized exchanges cannot avoid and resolve.
Therefore, Blockchain enthusiasts and developers seek to resolve these problems with decentralized solutions. Some decentralized projects have sprung up, including Bitshares, 0x protocol, Swap, Kyber Network, etc., but they are still subject to the constraints of the underlying blockchain system and cross-chain obstacles. Basically, these solutions now can only provide asset transfer services within a single blockchain system. For example, 0x and Airswap protocols can only support ERC20-compliant tokens on Ethereum.
Decentralized exchanges now co-exist with centralized exchanges as a supplement, however the decentralized exchanges of the future need efficient “cross-chain” solutions to remove theses “walls”, and support asset exchange across different blockchain systems.
Thor Network Solution
Thor Network provides decentralized value exchange services for cryptocurrency and digital assets. Leading in “cross-chain atomic swap” technology, Thor Network can further support more assets across blockchains and enhance liquidity. Its self-developed “Atomic Settlement Network” (ASN) enables instant and seamless blockchain asset transfer across different blockchains and Dapps. Developers can have easy access to Thor Network and explore ASN’s application in his/her own way.
By using Hash Time-Locked Contracts (HTLC), ASN can provide cross-chain asset transfer service for point to point exchange among multiple parties. But most importantly, in the whole process your assets will not be transferred to any agency or third party custody. You will always be the master of your own data and assets.
“Cross-chain atomic exchange” can provide better asset versatility, cross-chain interoperability and scalability for blockchain systems. By connecting the existing blockchain systems, Thor network is set to release more capabilities for the application layer built on blockchain.
Thor Network is at the very forefront of blockchain and financial technologies, whose core members all come from world leading technical and financial agencies, such as BNP Paribas, SAP, Susquehanna International, Alibaba, Samsung, and more.
For the development of blockchain and cryptocurrency industry, Olivier Raybaud, Co-founder and Head of Global BD of Thor Network, believes that high-performance decentralized value transfer services will be the future: “Only with secure and high performance value circulation across blockchain systems can people get more equal access to the inclusive value brought by blockchain.”
Thor Network provides leading decentralized exchange solutions that will greatly enhance the performance of existing DEXs and bring disruptive changes to the digital asset exchange. Thor’s ASN technology is a highly promising technology that is sure to shake things up in the real world, which allows data and value transfer across different blockchains and existing commercial systems, drastically improving options for traders and exchanges. In the coming two years, this cross-chain technology is sure to push the decentralized value transfer service forward.