ThunderCore by its nature is a public blockchain that serves to build a highly operational cryptocurrency. Thunder Token is a new crypto that has high throughput and confirms transactions in seconds. The blockchain is compatible with Ethereum Virtual Machine which means it supports smart contracts and dApps running on Ethereum. However, Thunder token is not deployed on EVM itself, but on its own mainnet and it’s pretty much used exactly the same way as Ethereum, which is used to pay for gas for Thunder token smart contracts and transactions.
The main distinctive feature of the blockchain is that ThunderCore comes up with the new hybrid solution that uses two different modes of confirmation: the fast mode and the slow mode. The goal of that kind of blockchain protocol is that it has a speed of centralized protocol combined with transparency and decentralization and fairness of decentralized protocol. The core idea is to combine traditional “slow” blockchain with the optimistic fast one which is considered to be “fast chain”. The fast chain represents an Accelerator which accumulates all transactions and converts them into micro blocks. These blocks are then signed by the Accelerator. Signed blocks are transmitted to the Committee of stakeholders for confirmation. If the ¾ of the Committee members sign the block sent by Accelerator, the block is then confirmed. As a result, users get really fast and almost instant consensus algorithm. When Accelerator is not available, the blockchain enters slow mode, where the traditional Proof-of-Work consensus is operating. Committee nodes are elected through the bidding process based on the amount of Thunder tokens that they are staking. The Accelerator election is carried out through voting. Some users may be concerned by the rate of centralization taking into account only one Accelerator and particular Committee, but the ThunderCore team has mathematically proved that as long as there is one honest node on the network they can find a point where they disprove a majority of dishonest nodes. And that’s the main reason why users can trust the Optimistic “fast” path.
The team behind the project is quite talented. The CEO, Chris Wang has a PhD in Computing Science. The company is focusing on engineering talent. Building a layer 1 blockchain protocol supporting dApps is not an easy task so it requires only top-notch talents to bring the platform to success.
Thundercore didn’t have a public ICO, they completed private token sale raising 50 million dollars from investors, among which were such big names as Huobi Capital, FBG, Hashed and a bunch of others. There are 10 billion Thunder tokens issued and this amount is fixed. This means that the platform is not going to issue more tokens, leaving approximately 2 billion to be in circulation.
A lot of users from crypto community call the project “Ethereum-killer”, but the team has mentioned they don’t like this name, because they want not only to be a part of the Ethereum community, but also focus on facilitating life of dApps developers and making the blockchain more understandable and usable for end users not replacing Ethereum.
All in all, the platform provides a lot of advantages for platform’s users. The main one is enhanced TPS, because scalability is one of the important features for the blockchain. Then, the project has a team of highly experienced experts and talented crypto enthusiasts with huge store of knowledge. And, for sure, the usage of Ethereum as the fallback slow chain makes this project more secure. There is also an opinion that ThunderCore is just an improved version of Ethereum, but the team assures users, that it’s not just low-cost and fast version of Ethereum, but it also has its own unique features too, one of which is dApp developer funded gas cost. So right now, users interacting with dApps on Ethereum pay gas themselves. But ThunderCore team is building an environment where developers pay those fees. Thus, users have an opportunity to operate dApps as any normal application without having a full wallet of Ethereum to pay for gas.
Many consider the project to be a breakthrough in the scaling technologies as it scales not only transactions, but also smart contracts.