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What currency does THORChain(RUNE) currency belong to?

THORChain operates as a standalone blockchain, establishing RUNE as its native currency independent of other chains.

Dec 14, 2024 at 03:09 am

What Currency Does THORChain (RUNE) Currency Belong To?

THORChain is a decentralized, peer-to-peer network that allows users to trade cryptocurrencies without intermediaries. RUNE is the native token of the THORChain network and is used to pay for transaction fees and rewards validators for securing the network.

THORChain is a cross-chain liquidity protocol that allows for the decentralized exchange of assets between different blockchains. It aims to create a more efficient and secure way to trade cryptocurrencies, without the need for a centralized exchange.

Chain of Thought

THORChain is its own blockchain, so RUNE does not belong to any other chain.
THORChain is not a sidechain or layer-2 solution, but rather a standalone blockchain with its own consensus mechanism and tokenomics.
The THORChain network is secured by a network of validators who stake RUNE tokens.
RUNE is used to pay for transaction fees on the THORChain network.
RUNE can be held in a wallet and used to interact with the THORChain network, including staking, voting, and trading.
RUNE is also a governance token and holders can participate in the governance of the THORChain network.

Additional Information

THORChain was founded in 2018 by a team of experienced blockchain developers.
The THORChain mainnet was launched in June 2021.
RUNE is a top-50 cryptocurrency by market capitalization.

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