How & Where to Buy ThoreCoin (THR)
Use ThoreCoin: Ways to send & spend THR
ThoreCoin Price & Information
Current THR price and historical price chart
What is ThoreCoin?
ThoreCoin is an Ethereum project with two purposes: the first is to create a token based on the value of a basket of cryptocurrency holdings, and the second is the create an advanced decentralized exchange to trade several different sorts of coins. Thore’s “hybrid exchange” will incorporate a decentralized ledger within its own centralized platform, helping to bring large-scale crypto trading to a level of quality and transparency that is unprecedented among today’s cryptocurrency exchanges. The goal is to help further the adoption of cryptocurrency with an exchange that is both easy to use and trustworthy.
History of ThoreCoin
Though not much is known about ThoreCoin (THR) or its developers, it is known that it is based in Estonia, The ThoreCoin token sale occurred from March 15th to May 25th, 2018. Tokens were sold at a price of $16.50 per THR. A total of 86,686 THR were released into circulation, with a grand total of 200,000 created in the token’s Ethereum smart contract. 100,000 of these remain inaccessible and are not considered to be part of the token’s total supply. THR opened for trading in exchanges in August 2018 and surpassed a market cap of $40 million for the first time in March 2019.
How ThoreCoin Works
According to a somewhat tongue-in-cheek article on Medium, ThoreCoin is backed by a basket of top tier coins, including Zcash, Dash, Monero, Lisk, Ethereum Classic, Litecoin, Ripple, Bitcoin Cash, Ethereum, and Bitcoin. The project has plans to launch its own decentralized exchange (DEX), called Thore Exchange, with its graphical interface similar to that used by Waves. The Thore Exchange system differs from most pre-existing DEX models in that users deposit their funds to the exchange, which then issues them an “IOU” in a form of a token that can be traded throughout the platform. When a user wants to withdraw their funds, they are converted back into the cryptocurrency that is to be withdrawn and sent to their owner, who can then withdrawal them from the exchange. The exchange protocol itself is “semi-decentralized” in that incoming orders and transactions are encrypted, timestamped and stored in a blockchain, while order matching itself is made off-chain. The decentralization of orders and transaction information will allow for transparent price formation, transaction auditability and will help to get rid of “front running.”
As an Ethereum-based token, ThoreCoin has unique ambitions. Some of its goals include the following:
Development of a crypto asset-backed token. THR is (supposedly) backed by a large array of top-tier cryptocurrencies that help give it some stability relative to other coins. This will allow it to be used as the primary means of exchange on its on DEX.
Thore Exchange. A new hybrid model of exchange that will combine the best features of a DEX with those of traditional exchanges, in order to create a highly transparent, trustworthy, and easy-to-use exchange which is ready for mass adoption.
Inter-compatible token. Users on Thore’s THE token can create exchange contracts between ETH and any ERC20 compatible token, while managing funds, volumes and rates themselves.