What is ThunderToken?
ThunderToken is the underlying token for the ThunderCore Blockchain.ThunderCore is a fast, high-performance Ethereum-compatible public blockchain, meaning it uses the same language and toolset, with fully decentralized trust that brings scale to decentralized applications - with higher throughput, faster confirmation times, and lower costs. It is essentially a cheaper and faster Ethereum. The technology unlocks many potential applications.
ThunderToken is to the ThunderCore network what Eth is to the Ethereum network. ThunderToken will be used for paying gas fees on the ThunderCore network.
How does it work?
The Thunder Protocol (based on the “Thunderella” protocol) was developed by Cornell Professors Rafael Pass and Elaine Shi based on years of research. Every step of the protocol is fully specified and backed by mathematical proofs. ThunderCore utilizes a hybrid consensus mechanism, with a standard Ethereum blockchain (“slow path”) and an optimized “fast path”. On the fast path, a committee formed by consensus nodes complete a single round of voting to confirm transactions in under a second. Accelerators — robust, DDoS-resilient distributed systems — coordinate the network of consensus nodes. Users do not need to trust the accelerators nor the consensus nodes; they only need to trust the honest majority.
As long as the accelerators act honestly, network condition is good and 3/4 of the committee members are honest, transactions will always happen on the fast path. However, in a worst case scenario where any of the aforementioned conditions are not met, the system will fall back to the slow path and will slow down to the speed of a traditional blockchain, like that of Ethereum. Therefore, in this unlikely scenario that voting fails, the protocol automatically continues to operate using a standard blockchain until the problem is fixed.
What ThunderToken aims to solve?
ThunderCore aims to solve the scalability problems of the existing blockchains especially Ethereum. It hopes to solve the problem while letting the users and developers stick to existing tools (MetaMask), dev-ops tools (Truffle) and programming languages (Solidity) they have been used to.
What are the features of ThunderToken?
High throughput: 1000+ TPS on Testnet for Ethereum Smart Contracts
Fast, near-instant confirmation: block confirmation time in seconds
Low gas cost: sub-cent transaction cost
Low redeployment cost: full Ethereum compatibility
Full compatibility with Ethereum Smart Contract and its tool chain
Easy migration: no change to source code required, only change RPC to Thunder
PoS with variable committee size
Hundreds of voting nodes running on public Testnet. An optimal committee size is chosen based on research