Value of an Ecosystem
Building a blockchain ecosystem is no small undertaking. Not only does the core development team need to create a functioning network of peer-to-peer transactions recorded on a distributed ledger, with protocol and procedures for agreeing to a state of truth — but the larger community needs to find the tools and material needed to build something on that network.
One of the core strategic approaches of ThunderCore has been to build an EVM-compatible network that is faster and less expensive to run than Ethereum. This allows the new ecosystem being built on ThunderCore to profit from the work and ideas that came before — to stand on the shoulders of giants — as it were — and see just a little further.
Obviously, a great benefit to that approach is that any application built on Ethereum can be ported over to ThunderCore quickly, easily and with a minimum of fuss. But another great benefit is that tools and assets that have been developed on Ethereum can be replicated quite simply on ThunderCore.
ThunderCore has Tether and Dai
It is with great excitement that we announce two valuable assets from the Ethereum ecosystem are now available on ThunderCore: Dai and Tether.
We have built a process whereby Dai and Tether can be locked-up in a smart contract on the Ethereum blockchain. That smart contract then generates the same amount of the stablecoin on the ThunderCore blockchain — called “TT-Dai” and “TT-USDT” respectively. Users can then profit from the ability to use a known-value asset in regular day to day transactions at the speed that ThunderCore can offer.
Imagine it, if you will, walking down the street to a neighbor’s garage sale, pulling out your phone and buying an old t-shirt for 1 or 2 USDT — knowing that that stablecoin is pegged to the US Dollar and therefore knowing that you spent only a dollar or two on the t-shirt.
In fact — you don’t have to imagine it. You can experience it. This coming weekend at TruffleCon on the Microsoft Campus in Redmond, Washington — ThunderCore will be holding its’ own “Garage Sale” and you can experience the speed of the ThunderCore network yourself in person.
ThunderCore was built to show the world what blockchain technology could actually do. While other chains will have you waiting around for 15, 30 seconds (or minutes even) to confirm that a transaction went through — we will be able to show you a blockchain transaction at the speed and scale that we have come to expect in our modern lifestyle.
But bridging the physical and digital divide isn’t all — as we discussed in an earlier post — there are many great things that stablecoins can provide to an ecosystem. Imagine the games building in a subscription model. Imagine the real world donations to non-profits. Imagine what you can do with a stablecoin on a fast, scalable blockchain.
Now come and build it. We are holding a workshop at TruffleCon, Friday morning at 9:00 AM.
Note: A tutorial for how to transfer Dai and USDT into TT-Dai and TT-USDT will be posted in the next day or two. Stay tuned!