ThunderCore is a high-performance public blockchain which makes mass adoption of dApps and DeFi (decentralized Finance) possible. The team promises EVM compatibility, low gas cost, high speed, scalability, and security.
Scalability is considered to be one of the most challenging problems of existent blockchains. This is explained by the so-called “Blockchain Trilemma”, a term offered by Vitalik Buterin. According to this idea, decentralization, security, and scalability are the three basic characteristics of any blockchain. The trilemma means that it is very difficult for a project to succeed in all three characteristics at the same time, thus, any blockchain network can demonstrate only two of them at once. Neither Bitcoin nor Ethereum has managed to resolve this trilemma so far. And since most blockchain projects are based on these two platforms, they all face scalability challenges because of the necessity to ensure network security and decentralization. ThunderCore claims to have found a solution to this problem.
In recent years, a lot of blockchains have been working on scalability issues. But it seems that all the attempts to scale large blockchains projects such as Ethereum fail. ThunderCore believes to have found a solution for giant platforms.
This became possible due to PaLa consensus protocol, i.e. the Proof-of-Stake protocol, which allows performing an open, permissionless network conducting over 2,000 transactions per second. ThunderCore’s team insists that this is the most productive, efficient and simple protocol of its class.
ThunderCore platform’s primary benefits
According to the ThunderCore’s research, over 200,000 developers could potentially create Ethereum-based code, when the idea of ThunderCore platform was conceived. The ThunderCore’s creators took advantage of this fact making the platform fully EVM (Ethereum Virtual Machine) compatible. Thanks to that, all applications, smart contracts or tools built on Ethereum can work on ThunderCore as well.
With ThunderCore, transaction speed exceeds the speed of Ethereum counterparts. Higher speed means more daily transactions and participants. Also, the ThunderCore platform lets developers and users take advantage of existing tools such as Truffle, Metamask, etc.
The ThunderCore token
The ThunderCore (also known as Thunder Token or TT) is the native token of the platform. This is a utility token based on the ERC-20 standard. TT functions are similar to those of ETH on the Ethereum network. These are the gas fees and value transfer payments. This cryptocurrency can be also used for decentralized applications building and monetizing on the ThunderCore blockchain.
ThunderCore raised $50 million at the private sale. The IEO (Initial Exchange Offering) was conducted via the Huobi Prime Lite platform. It started on May 9, 2018, and ended on the same day. Total token supply is 10 billion and they are distributed the following way: 26% are allocated to the early investors and adopters, 19% are held by ThunderCore for company operations, 15% are allocated for the community and bug bounties, 15% are dedicated to the committee members and operators motivation, 10% are committed to developers, partners, and creators, and 10% are intended to motivate employees and advisors.
TT can be traded on Huobi Global, Hotbit, Bilaxy, Upbit, and some other exchanges. You may get free Thunder Token at the ThunderCore Faucet. You will need an Ethereum Wallet Address to start, and it is necessary to have a Google account to request your TT from the faucet.
As TT is an ERC-20 token, it can be stored on any ERC-20 compatible wallet, e.g. MyEtherWallet, Mist, MetaMask, Coinomi, and a number of others.
ThunderCore Team, Partners, and Investors
ThunderCore is a company located in Sunnyvale, California. It was founded in 2017, and three members of its team are mentioned among its co-founders.
Chris Wang, CEO, and co-founder, was a VP of Tech at the Walt Disney Company (2010-2012). He was also a co-founder of Playdom Inc., a social gaming company acquired by Disney for 532 million USD. Rafael Pass, Scientist and Co-founder, worked for a short time in JP Morgan and Price Waterhouse Coopers. He also took part in ANONIZE protocol creation. The third person to be mentioned is Elaine Shi, Chief Scientist and Co-founder. She left the project in August 2019. Now she is a Research Scientist at UC Berkeley.
There are 16 partners and 10 investors listed on the official website at the time of writing with Huobi, Certik, Trust Wallet among them.