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Thor Network Will Revolutionize Cross-chain Asset Transfer

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Thor Network makes decentralized inroads with its ASN.

The Thor Network is a leading name in cross-chain atomic swap technology. The firm also provides decentralized exchange services for cryptocurrencies and digital assets. Indeed, the Thor Network has put all the modalities in place to release more capabilities for the application layer on blockchain. To this end, the company is connecting existing blockchain systems.

Understanding the Blockchain Technology

Blockchain is a distributed ledger which underlies the digital currencies, such as Bitcoin (BTC). The technology helps in solving everyday problems levering its capabilities, such as decentralized, and trustless architectures. Indeed, the blockchain is the underlying structure of tradable crypto-assets which are used in many different sectors today. Some notable applications of these currencies include finance, agriculture, supply chain, Internet of Things (IoT), and games. These crypto-assets solve many problems facing those fields.

Trading Blockchain Assets and Tokens

To trade blockchain assets and tokens, people built online exchanges on centralized platforms. Inevitably, cryptocurrency has created a “bubble,” which has led to the creation of billions of dollars a decade after it launched. Traders use the online exchanges to participate in cryptocurrency trading, cashing in on cryptocurrency wealth. Despite all these gains, cryptocurrency has also experienced some setbacks. For, instance, traditional exchanges have had to deal with scandals, such as cyber theft, inside jobs, manipulations, poor operation, etc. In fact, centralized exchanges are prone to certain drawbacks that have overwhelmed them to the point of ruin. The Thor Network leads the way in making centralized exchanges obsolete.

The Solution

Decentralized exchanges solve the problem. Some of the popular decentralized solutions include OX protocol, Kyber network, Swap, and many others. However, cross-chain and underlying blockchain obstacles have become their biggest challenges. But the as-is decentralized exchanges allow transfer of digital assets within a single blockchain. For example, Airswap and OX can only support the exchange of Ethereum’s ERC-20 compliant token.

Today, decentralized and centralized exchanges exist. However, there’s a need to dismantle all the decentralized exchanges’ underlying barriers to enable cross-chain asset exchange across different blockchains.

The Thor Network Solution

Thor Network provides a decentralized value exchange services for digital assets and cryptocurrency. Indeed, this unique solution has earned Thor Network a place as a global leader in providing cross-chain atomic swap in blockchain technology. Also, the Network supports lots of assets across the blockchain, thus improving liquidity.

In addition, Thor Network’s ASN (Atomic Settlement Network) enables seamless and instant assets transfer across different decentralized applications and blockchains. As a result, developers can have uninterruptible access to ASN apps and Thor Network any way they want to. To perform point-to-point exchange across multiple parties, users will just require ASN-powered Hash Time-Locked Contracts (HTLC). Keep in mind that in doing so, no third party custody or agency receives your assets. Yes, the user performing such transfers is allowed total control over their assets.

 

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