Decentralized Data Storage & Encrypted Messaging - Thorchain’s decentralized data storage allows trusted information exchanges between companies and providers without compromising business confidentiality or trust issues. We also offer real-time messaging with encryptions so only the intended parties can read the messages.
Worker Proposals System (WPS) - The WPS is used to incentivize individual participants (workers) in the system to achieve the desired results of the organization. The WPS is also used to manage and govern various proposals submitted by workers on how they can help or improve the business.
Decentralized Reputation Management System (DRMS) - Thorchain’s Oracle system keeps track of all transactions carried out between companies and workers on THORchain, which will also be used as a decentralized reputation management system for each worker, where clients can search and verify the reliability and performance of their chosen provider.
Technical Information: THORchain uses an advanced consensus mechanism called Proof Of Stake (POS), which allows any user with large amounts of coins to participate in securing THORchain's network and receive additional coins as reward. It would be described as a "mining" of sorts, except it is done without expensive hardware, and electricity costs.
Project Information: The main net of the Thorchain will start by listing two major ‘testnet’ tokens on its blockchain - RuneCoin (RUNE) and THORChain Coin (THOR), both of which are ERC20 tokens. The purpose for this board is to create an internal cryptocurrency that can be used within THORchain's system for daily transactions between clients and workers.
RuneCoin (RUNE) - A payment token that can be used as a medium-of-exchange between service providers on our platform. These payments wouldn't have been possible without the help of these tokens, incentivizing workers to complete tasks and services for clients.
THORChain Coin (THOR) - This token will be used to reward market participants who run nodes within Thorchain’s network, while also being a measurement tool that determines the value of any goods or services provided on our platform. THORchain plans to be a self-governing organization system that runs completely on its own with zero control from any outside parties. Market participants will have the ability to vote for updates and changes within the governance system by using their THORs.
