What is Thundercore? – Is this cryptocurrency project worth the investment
The biggest goal for new blockchains these days is to achieve four key metrics. This includes faster speeds, lower gas fees, scalability, and more importantly, cross-chain interoperability. These attributes are often designed to address the key challenges of first-generation proof of work blockchains like Ethereum which in recent years have become highly congested and expensive to use.
ThunderCore is an innovative blockchain project that brings to the forefront all these important characteristics. But it offers way more than that. In this post, we will go into details about ThunderCore, what it is, how it works, and why it makes sense as an investment in crypto.
What is ThunderCore
ThunderCore is a secure, highly scalable, high-performance public blockchain designed to empower developers around the world to create innovative decentralized applications. The project aims to create what it calls a “hyper-connected world”.
It comes with full EVM compatibility to enhance cross-chain interoperability. ThunderCore is built by some of the leading experts in blockchain technology too. It aims to offer a simple to use yet highly powerful protocol that allows you to “build for tomorrow today”. So far, the chain is offering over 4000 transactions per second with relatively low gas fees as well.
ThunderCore Founders and Backers
ThunderCore was founded by Chris Wang, a computer science genius with years of experience in the industry. Wang has a Ph.D. in computer science from Carnegie Mellon which he attained at just 22 years of age.
He was one of the Co-Founders of a company called Playdom Inc. which he would later sell to Walt Disney for half a billion dollars. Before his role as the founder and CEO of ThunderCore, Wang worked as the VP of tech at the Walt Disney Company.
As for backers, ThunderCore has several key venture capital firms under its belt. This includes Varys Capital, Du Capital, RocketFuel, Lotus Capital, IMO Ventures, Huobi Ventures among others. As of now, over 32 high-end venture capital firms and investors have put their money in ThunderCore. This shows the level of confidence in the project is quite high.
What Makes ThunderCore Attractive for Developers
The success of any blockchain project largely depends on the quantity and quality of DAPPs it is able to attract. ThunderCore has positioned itself as one of the best protocols for developers to create futuristic decentralized applications and here is why:
Scalability simply refers to the ability of a blockchain to maintain high levels of speed and performance even when the number of transactions has increased dramatically. The last thing you want is a chain that has so much network congestion that it takes transactions hours to clear.
ThunderCore does not have that issue. It is an intuitively scalable solution that can deliver 4000 transactions per second.
Low Gas Fees
Gas fees are typically paid by blockchain users for the validation of transactions. For proof of work chains, the validating transaction requires a lot of energy and computer resources. As such, the gas fees charged will be very high.
ThunderCore uses a secure and efficient consensus mechanism that allows it to offer some of the lowest gas fees in the market. This eventually makes it cheaper for DAPPs to operate within their ecosystem.
Enhancing speed while still maintaining security is also a big priority for blockchain users. For example, a Bitcoin transaction may take on average as high as 10 minutes to be securely validated. But ThunderCore and other blockchains are trying to address this.
For ThunderCore, the goal is to not only offer highly secure transactions but also ensure that validation is done as fast as possible. So far, the chain can deliver 4000+ transactions per second with sub-second block confirmation.
A Huge Active User Base
When launching a decentralized app, you also want to be sure that there will be enough people within the network to use it. ThunderCore has over 400, 000 monthly active users.
The chain also gets up to 680, 000 transactions per day. This makes it one of the most popular blockchains out there and as such, a very good place for developers to deploy their apps in any field.
ThunderCore also offers cross-chain interoperability including compatibility with Ethereum, Binance Smart Chain, and the Huobi Eco Chain. The network is also filled with innovative developer tools and high reliability.
Is ThunderCore (TT) a Good Investment?
TT is the native and utility token of the ThunderCore network. The coin is already available for trading and according to Coinmarketcap.com, its total market cap stands at around $86 million. There is therefore a lot of potential for further growth.
At the moment, the total circulating supply for TT stands at 8,614,400,793. The maximum supply has been capped at 10,000,000,000. This, therefore, means that over 86% of the total supply has already been released. TT is also available in major exchanges including Huobi Global, Pionex, Gate.io, BKEX, and others. The following are some reasons why TT is worth your consideration:
Low Market Cap
As noted above, the overall market cap for TT is $86 million. This is relatively low for a blockchain infrastructure project. It also means that TT has a lot of upside for growth. It’s not farfetched to assume the coin has the potential to grow 10x in the long run.
While a low market cap does not always mean a project is good, it often suggests that there is a lot of room for more growth.
The goal for ThunderCore is to position itself as the best ecosystem for developers around the world. So far, the project has been attracting a diversified pool of ecosystem developers. For starters, ThunderCore has seen an increased growth of DeFi products within its network. Notable apps include Acorn Finance, CEXISWAP, Ram Protocol, and others.
ThunderCore has also built the ThunderCore bridge that provides interoperability across various chains. The ecosystem has made a major push towards play-to-earn games as well. This increased diversity in projects will make the project more attractive to investors.
Developer Tools and Incentives
ThunderCore has also set aside up to $10 million for ecosystem development. The money is designed to create innovative developer tools and to incentivize developers to bring their apps into ThunderCore.
The fund simply awards unconditional grants to help developers accelerate innovative projects for the network. ThunderCore will also pay incentives to developers if they can refer more and more users to the platform. These incentives are all designed to make the network more popular.
Top Line Backing
ThunderCore is backed by a total of 32 high-end venture capital firms. This is a very good show of confidence in the future potential this project has to offer.
The founder of the project is also a seasoned computer expert with a lot of experience in tech-related businesses. This should give you enough confidence that the project is here to stay.
ThunderCore is a blockchain project designed to offer developers exactly what they are looking for. This includes speed, scalability, low gas fees, and interoperability. The chain is so far attracting 680, 000 transactions per day and is already diversifying its ecosystem. As an investment option in crypto, it is worth looking at, especially when you consider the low market cap.
* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.