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GAINS Associates

ThunderCore — Telegram AMA — August 09

On Monday, August 09, we had the pleasure to welcome to our Telegram chat:

Chris Wang, CEO & Co-Founder.

We asked him questions about the development of ThunderCore.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Summary

ThunderCore is a public blockchain platform that is fast (4,000 TPS), scalable, and secure, to make it quick and easy for DApps to deploy and scale. ThunderCore (TT) allows for the running of DApps and DeFi.

ThunderToken (TT) is the native utility token of the ThunderCore blockchain. Thunder Token can be used to build and monetize decentralized applications on the ThunderCore blockchain. Thunder Tokens can be used to pay for gas costs, execute transactions and underwrite smart contracts on the ThunderCore blockchain.

ThunderCore has been designed to be compatible with Ethereum. Any contract or application deployed on Ethereum can be redeployed on ThunderCore in minutes.

ThunderCore Hub is a secure and easy-to-use crypto wallet with full DApp browser capability. Users can manage their assets and experience the fast, scalable, user-centric Web3 decentralized apps made only possible on ThunderCore’s high-performance blockchain.

Introduction

Q — Ayeley from GAINS: What did you do before crypto and did you have any other previous venture in crypto?

A — Chris from ThunderCore: Before crypto, I was the co-founder and CTO of a gaming company called Playdom, and it was acquired by Disney for $763.2 Million in 2010. After the success of Playdom, I worked on a handful of projects and some of my ventures are outlined nicely in this Forbes article.

After that, in 2017, I decided to start ThunderCore, and currently, I’m the co-founder and CEO of ThunderCore⚡️

About ThunderCore

Q — Ayeley from GAINS: What is the project about in a few simple sentences? And for how long have you been working on ThunderCore? How many people are on the team?

A — Chris from ThunderCore: ThunderCore is an open, decentralized, and high-speed: 4000TPS(transactions per second) public blockchain⚡️. I have been working on ThunderCore since 2017, so almost 4 years now. The team is around 50 people with offices and employees in the Bay Area(US) and Taipei(Taiwan)

Q — Ayeley from GAINS: What are some milestones achieved by ThunderCore so far that you’d like to highlight? Also, can you tell us more about the recent implementation of the cross-chain integration between ThunderCore and Huobi Eco chain?

A — Chris from ThunderCore: So let me give a quick rundown of the milestones first

In 2017, ThunderCore was founded by top academics and experts in the industry to build a next-generation decentralized public blockchain. ThunderCore raised $50 million to build a fast, secure and scalable Blockchain platform. Investors include Pantera Capital, Huobi Capital, MetaStable, Zhen Fund, Arrington XRP Capital, FBG Capital, etc.

In March 2019, ThunderCore’s mainnet went live 🚀, and the team has since focused on building the ecosystem. Thanks to the technical advantages of sub-second confirmation times, cross-chain communication, and high throughput, ThunderCore can support a wide spectrum of use cases.

In March 2020, ThunderCore’s mainnet was upgraded to the PaLa consensus algorithm, which pushed performance to a whole new level: 4000 TPS (transactions per second)⚡️

In 2020, ThunderCore launched TT Mining, which gradually reached a peak DAU (Daily Active User)of 60K around March of 2021. We’ve also most recently reached an all-time high of users in the ThunderCore Hub mobile app. In March, we have so far reached a Monthly Active User(MAU) of 530K, a record high! 📈

And fast forward to the present day, in 2021, ThunderCore Bridge added support for Binance Smart Chain (BSC), TT get listed on Uniswap V3, and recently we established a partnership with Huobi Eco Chain(HECO)

So now let me explain more about the Huobi Eco Chain(HECO) partnership🤝

So interoperability has been one of the key areas of development and remains the focus of ThunderCore going forward, particularly because interoperability is a key requirement for a lot of DeFi DApps. To this end, we have been building a bridge infrastructure since last year, which we call ThunderCore Bridge🌉, to connect other blockchains and ThunderCore.

Just recently, ThunderCore and Huobi Eco Chain (HECO) have reached strategic cooperation. In addition to Ethereum and Binance Smart Chain(BSC), ThunderCore Bridge🌉 now officially supports HECO’s cross-chain services, establishing mutual interoperability between the two blockchains.

Q — Twitter user @Alessa199625: Recently ThunderCore has partnered with NFT DApps. How much does ThunderCore believe in NFTs and what are some of the ThunderCore team’s ideas on how to bring the value of NFTs to the ThunderCore chain?

A — Chris from ThunderCore: So as I have mentioned before, ThunderCore empowers a multitude of DApps in a lot of categories: from DeFi to gaming and gambling. And NFT applications also have a strong presence within the ThunderCore ecosystem. ThunderCore has been collaborating with industry leaders to create an environment where NFTs can thrive and be used to unlock unlimited potential for artists, creatives, and collectors alike, and we have published a Medium post that summarizes almost everything you need to know about NFTs on ThunderCore.

On a high level, several NFT projects have been released on the ThunderCore blockchain, ranging from an innovative NFT marketplace, collection and art pieces from artists for good causes, and events partnered up with a leading crypto exchange. Here’s an overview:

— CaptureClub: A unique, creator-only NFT marketplace
— ThunderCore’s first NFT project in collaboration with DJ Kaku
— Taiwan Star Van Ness Wu releases NFT on the ThunderCore blockchain
— OurSong: Create your own music NFTs on ThunderCore
— ThunderCore & Huobi Global’s NFT giveaway

Q — Twitter user @Godpelpa: ThunderCore Bridge is your flagship interoperability product, which supports transferring assets between ThunderCore, Ethereum, and BSC. So, can you give more details about this flagship interoperability product? What is your relationship with the Huobi Eco Chain?

A — Chris from ThunderCore: Interoperability has been one of the key areas of development and remains the focus of ThunderCore going forward, particularly because interoperability is a key requirement for a lot of DeFi DApps. For a long time, different chains have been seen as silos with no real interaction with any other networks. This has forced DApp developers to choose between blockchains and committing their assets and data.

ThunderCore believes that developers shouldn’t be forced to lock themselves into one chain between ThunderCore and Ethereum and forgo the benefits of the other. We want developers to have access to the same assets on both blockchains and even have DApps that seamlessly communicate across the boundary🤝

To this end, ThunderCore Bridge is the flagship product that connects Ethereum/Binance Smart Chain(BSC)/ Huobi Eco Chain(HECO) and ThunderCore blockchain🌉.

Originally, ThunderCore Bridge launched with support for Ethereum only. In March 2021, ThunderCore Bridge supported assets to be easily transferred across ThunderCore, Ethereum, Binance Smart Chain (BSC). And recently we announce the strategic cooperation between ThunderCore and Huobi Eco Chain (HECO). Now with the HECO support, ThunderCore is on track to become one of the most interoperability-friendly public blockchains🚀

Learn more about ThunderCore’s plan when it comes to interoperability.

Q — Twitter user @antonio50221026: In my opinion, to leverage the potential of DeFi, you need to incorporate non-crypto users as you attract crypto users. So, can you explain what strategies Thundercore will implement to develop this goal? How do you see the current and future DeFi landscape at Thundercore?

A — Chris from ThunderCore: I 💯 percent agree with the view that to leverage the potential of DeFi, you need to incorporate non-crypto users. That’s exactly why we’ve built the mobile app ThunderCore Hub📱and making ThunderCore Hub as beginner-friendly as possible is one of the core strategies in acquiring users. And so far this strategy has worked really well, especially with the success of TT Mining, which helped us reach a peak DAU of 60K around March of 2021🚀. So currently I think most DeFi is still very early and not user-friendly at all. So I think ThunderCore has a unique advantage to bring beginner-friendly DeFi products to more users, both crypto and non-crypto.

Q — Telegram user 𝔸𝕓𝕕𝕦𝕝𝕝𝕒𝕙: Can you please explain in layman’s terms what ThunderCore’s PaLa consensus algorithm is all about?

A — Chris from ThunderCore: Sure! So on a very high level, the benefits of the PaLa consensus algorithm is that it boosted ThunderCore’s throughput from 1200 TPS (which was enabled by Thunderella originally) to 4000TPS⚡️ You can find more details here and here.

Competitive Advantage

Q — Ayeley from GAINS: What sets ThunderCore apart from other crypto projects?

A — Chris from ThunderCore: So from a technical point of view, ThunderCore really stands out because of the world’s leading Proof of Stake (PoS) consensus algorithm developed by our research team with scientists from Cornell, CMU, and MIT. The algorithms have been mathematically proven secure by top peer-reviewed conferences in Cryptography: Thunderella & PaLa.

From a business point of view, ThunderCore also stands out because of how beginner-friendly it is, especially when it comes to our flagship mobile app ThunderCore Hub📱, so I think having this perfect combination makes ThunderCore unique in the crypto metaverse⚡️

Business Development

Q — Ayeley from GAINS: We’d like to know what the future is like for ThunderCore? What should we expect in the next weeks and months?

A — Chris from ThunderCore: Thanks for the compliment! Even though we have accomplished a lot, we just never settle!🚀

Being a secure, high-performance, EVM-compatible public blockchain, ThunderCore empowers a multitude of DApps in varying categories. From DeFi to gaming to NFT, all types of applications have a strong presence within the ThunderCore ecosystem. Our focus is to continue building out the ecosystem, so stay tuned for more updates to come!👀

Thank you Chris. We had a good time and learnt a lot. It was a pleasure having you in our group, and taking the time to answer our questions. Anything else you’d like to say? Where can we follow you to stay updated?Ayeley Commodore-Mensah from GAINS Associates 🐋

Stay in touch and stay tuned with ThunderCore. Looking forward to joining the GAINS community again! Have a great day everyone!Chris Wang from ThunderCore

Join us now! Enjoy quality articles, daily curated news, insightful infographics, and enter a vibrant, fun, and knowledgeable community!

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