Review on THORChain by Robiul Islam
THORChain The Lighting Fast Liquidity Protocol.
It provides not just a protocol, but a whole ecosystem, aiming to solve all aforementioned problems with the current digital asset market place. By designing the whole ecosystem chain agnostic, it will be able to support every existing digital asset. As a result, it is not competing with the currently existing protocols, but is rather trying to enhance the whole digital asset ecosystem by connecting them all to a big, liquid and decentralized network.
It is working on a solution which could solve most of the problems the cryptocurrency market currently displays. While there are projects that partially work on solutions for particular problems.
It is highly ambitious and given the fact that their roadmap goes until 2021, definitely also a long-term investment. While the team seems to know what they are doing, it remains to be seen if they can deliver on their high promises. Given the uncertainty and volatility of the overall crypto market, investing long-term in Thorchain is a high risk / high reward investment.
Pros
- It is not only a protocol, but a whole ecosystem that eventually allows for an efficient and decentralized liquidity network.
- Continuous Liquidity Protocols (CLPs) incentivize token holders for staking and ensure continuous on-chain liquidity.
- Hardly any competition, while tackling a big market.
- Strong token use case, whose value is directly correlated with the platform adoption.
- First DEFI dApp on Binance Chain, has already launched with strong partners already in August 2019.
Cons
- Ecosystem seems highly encouraging, it remains to be seen if the team is capable enough to deliver on their promises.
- Still in the early stages, long-term investment.
