Introducing ThunderCore (TT): High-Performance EVM-Compatible Blockchain

Introduction

In the ever-expanding realm of blockchain technology, ThunderCore emerges as not just another blockchain but a robust and high-performance solution. It was designed to address some of the most pressing challenges in the blockchain industry, including scalability, speed, and security. This article will delve into the unique features and capabilities that set ThunderCore apart, shedding light on its potential to usher in a new era of blockchain applications and seamless user experiences.

What is Thundercore?

ThunderCore is an EVM-compatible smart contract platform that enables the running of decentralized applications (dApps) and Decentralized Finance (DeFi). The platform offers low fees and interoperability with any app written on Ethereum.

ThunderCore has over 400,000 active monthly users, placing it above most blockchain ecosystems. Since it is fully EVM-compatible, it enables lightning-fast transaction processing speed and cheap gas fees and simultaneously a scalability solution for onboarding Web2 apps on Web3. Its proof-of-stake mechanism also allows for eco-friendly utilization of the platform, alongside enhanced interoperability.

History of ThunderCore

ThunderCore was founded in Silicon Valley in 2017 by Chris Wang. Chris Wang previously worked at Google and co-founded Playdom, a social gaming company. ThunderCore released its mainnet in 2019, allowing developers to build and deploy dApps on the ThunderCore blockchain.

Before deploying the mainnet, ThunderCore conducted a private token sale, raising $50 million in funding, which served as the initial capital for the project’s development. The project has partnered with crypto industry giants like Ethereum, Binance, Coinbase, and Gate.io and has received funding from investors, including Pantera, Kenetic Capital, Huobi Capital, and Metastable.

How Does ThunderCore Work?

ThunderCore is a hybrid blockchain based on the Thunderella protocol, designed to optimize for scalability and usability. The protocol mainly uses an optimized, fast path to increase its throughput while leveraging a slower chain as a fallback for security.

ThunderCore adds a “fast-path” over a standard blockchain called the “slow-chain.” The primary function of the fast-path is to offer both high throughput and instant confirmation of transactions, and on the other hand, the slow-chain ensures that no damage can be done to the blockchain.

Under normal conditions, all transactions are instantly confirmed on the fast-path and barely have to use the slow-chain. If the fast-path gets disrupted, a provably correct mechanism is then invoked to fall back to the slow-chain, and nodes can continue communicating and confirming transactions on the slow-chain. Once these issues are diagnosed, the fast-path will be revived. Each step of ThunderCore’s consensus protocol is backed by mathematical proofs. Due to this, ThunderCore archives both high throughput and fast confirmation at the rate of thousands of transactions per second.

The ThunderCore network offers more than 4,000 transactions per second, sub-second block confirmation times, and low gas fees costing less than a fraction of a dollar (<$0.00001). The platform manages this technology by implementing a proof-of-stake consensus mechanism known as PaLa.

ThunderCore: Solution to the Blockchain Trilemma

Currently, blockchain transactions are quite slow due to the “Blockchain Trilemma,” a term coined by the founder of Ethereum, Vitalik Buterin. A blockchain has three distinct features: decentralization, scalability, and security.

The blockchain trilemma proposes that it is difficult for a project to possess all three features satisfactorily. A decentralized and fully secure network would not be scalable. Conversely, a decentralized and scalable blockchain would have weaker security. At a fundamental level, a blockchain network can only achieve two of these three features at any time. However, ThunderCore has solved this problem by creating a Fast and a Slow Path.

The Fast Path is similar to a highway, enabling instant network confirmation. However, ThunderCore users can resort to a slow path if anything goes wrong on the Fast Path. The slow path is similar to a network of smaller roads.

In the fast path, ThunderCore facilitates fast and easy confirmation through two methods: The “Committee,” which is executed by a committee of stakeholders, and the “Accelerator” to linearize transactions and data.

Main Features of ThunderCore: Thundergene and TT Wallet

ThunderCore’s user-centric approach emphasizes ease of use, making it a developer-friendly platform for building and deploying dApps. As such, ThunderCore offers a plethora of innovative features for its users, including:

Thundergene

The Thundergene allows users to amplify their businesses in less than a month, all in a cost-effective and straightforward manner. The Thundergene enhances your project’s branding through NFTs, improving the growth prospects and overall valuation. It also offers three main features: a project console, Rest APIs, and a complete digital wallet service.

TT Wallet

The TT Wallet is a secure, easy-to-use crypto wallet with full dApp browser capability. It is an all-in-one solution to connect to the decentralized ThunderCore ecosystem. With the TT Wallet, users have full control over their funds, meaning that sending, receiving, storing, and exchanging cryptocurrency is now easier and more secure.

The TT Wallet also provides users with some perks, including:

• Collecting their crypto assets and NFT collectibles in their own pockets
• Earning daily interest and high APR rewards
• Executing over 200 million fast, secure, and almost free transactions
• The wallet is cross-chain compatible with ETH, BSC, and HECO
• Users can explore ThunderCore’sThunderCore’s decentralized ecosystem of dApps

The TT Wallet is also available on both the Apple App Store and Google Play Store.

ThunderCore PoS Staking

Thundercore offers a standalone feature in its staking system. Anyone can join the ThunderCore PoS to secure the network and earn staking rewards. The minimum stake amount is 10,000 TT, and users will receive veTT tokens in return for every TT token staked.

The veTT is automatically reinvested during the staking period, allowing its owners to earn more rewards. The rewards are distributed at the end of each epoch (3 hours), however, the unstaking process takes 100 epochs (approximately 12.5 days), after which the original TT and the staking rewards accumulated can be withdrawn.

ThunderCore Bridge

With the ThunderCore bridge, users can transfer assets between two chains in the ThunderCore ecosystem. Bridges are created between two networks known as the Native (or Home) network and the Foreign Network.

The Home network (ThunderCore) has fast and cheap operations. All the bridge operations to obtain validator confirmations are performed on this side of the bridge. Foreign networks include other networks such as Ethereum or Binance Smart Chain.

What is TT?

The ThunderToken (or TT) is the native cryptocurrency of the ThunderCore. The token can be used to build and monetize dApps on the ThunderCore blockchain. It is also used to pay for gas fees, execute transactions, and underwrite smart contracts on the ThunderCore blockchain. Users can also stake TT tokens to become a committee stakeholder or an Accelerator and receive incentives for securing the network and processing transactions.

TT Tokenomics

TT has a circulating supply of 10.42 billion tokens and a market cap of $43.54 million. The token was distributed as follows:

• 26% was allocated to early contributors
• 15% was reserved for the ThunderCore team and advisors
• 10% was allotted to developer incentives
• 15% went to committee incentives
• Another 15% was allocated to community incentives
• 19% went to the token treasury

News on TT

The ThunderCore team recently announced a comprehensive reset of the testnet. It was reset on August 24th, 2023, at 7 a.m., and it was done to provide users with a more efficient testing environment. The reset brought about several fundamental changes, including:

Clean Slate: All existing data was entirely wiped and not transferred to the new testnet. This ensures users get a fresh and pristine testing environment.

Preserved Infrastructure: The project maintained its foundational infrastructure, including features like faucets, bridges, and explorers. These features will coexist with the new environment and provide users comprehensive support.

Enhanced Performance: The reset wiped old data, thus boosting network performance and response speed, allowing users to test and develop dApps more efficiently.

Reduced Costs: Since resources that are no longer needed have been discarded, ThunderCore has now lowered server and storage costs, thus creating more opportunities for the network to grow sustainably.

Is TT a Good Investment?

ThunderCore provides a robust infrastructure for the seamless execution of decentralized applications (dApps) and smart contracts, offering an innovative solution to the trilemma issues of scalability and usability. However, it must be noted that the cryptocurrency market is quite volatile, so every investor is advised to do extensive research and consult qualified financial professionals before investing in TT.

Take Action on TT

TT is available for purchase from both centralized and decentralized exchanges like gate.io. Check the TT price here and begin trading your favorite pairs.

• TT/USDT
• TT/ETH