The End of Centralized Exchanges: THORchain

Cryptocurrency holds the key to our decentralized and permissionless future. But one of the biggest problems in cryptocurrency is that all of these decentralized blockchains are like isolated islands. You have the bitcoin blockchain, the ethereum blockchain, the cardano blockchain. And to move from one island to another you have to rely on gatekeepers: centralized exchanges. They can deny you access, seize your funds, they can be shut down by governments or forced to delist certain coins.

There have been experiments with decentralized exchanges, but none of them have achieved the success of something like Uniswap -- a major breakthrough in dexes that allows you to exchange assets within the walled garden of Ethereum.

But now there’s Thorchain: It’s like a highway connecting these islands. A cross-chain Uniswap. It allows people to move assets from one chain to another freely, without KYC, without them losing control of their funds, without them having to get permission first.

Plus you can earn yield on your native assets.

I chat with Thorchain community member Chad Barraford about how Thorchain and the Rune token work.

Edited by Lee Rennie

To make a tax-deductible (in the US) donation to my channel, visit https://cointr.ee/nbtv

Watch on LBRY!
https://open.lbry.com/@NaomiBrockwell:4/what-is-thorchain:3?r=9mvuwPzyZX55TFcyh5Yhwgm8HEXsrtSm

Shout outs to Erik Voorhees for his great breakdown of Thorchain, and Chad Barraford for answering my flood of questions!

Sign up for the free cryptobeat newsletter here:
https://Naomibrockwell.com/cryptobeat

Here are a bunch of products I like and use. Using these links helps support the channel and future videos!

Recommended Books:

Permanent Record - Edward Snowden
https://amzn.to/305negc

No Place to Hide: Edward Snowden, the NSA, and the U.S. Surveillance State - Glenn Greenwald
https://amzn.to/2UQmJ4m

What has the government done to our money - Rothbard
https://amzn.to/2KMzmcu

Naomi's Privacy Bag: some of my favorite products to help protect your privacy!

Use the Brave browser! https://brave.com/nao076

USB-C to ethernet adapter:
https://amzn.to/2lOVBoy

Lightening to ethernet adapter:
https://amzn.to/2nWyNns

Faraday bag wallet (signal stopping, to protect your fob, credit card, and phone)
https://amzn.to/2SUkPhu

Data Blocker (if you're charging your phone in an unknown port, use this so that no data is transferred)
https://amzn.to/2SVh0J2

Computer privacy screen (use your computer in public? Keep your information safe!)
https://amzn.to/2SXYHmf

Phone privacy screen (don't let people in public see your private data)
https://amzn.to/2YyJMnH

Camera cover (for computers and phones, so no one can access your camera without you knowing)
https://amzn.to/2Mt7Hic

Privacy Tip: Don't use wifi, and if you must, append the tag ‘_nomap’ or ‘_optout’ to your SSID to stop other websites tracking your location.