Recently, developers at Thorchain, who are the creators of ThoRan, have made it known that they will no longer support the Rune token on their blockchain due to Ethereum’s recent hard fork, Constantinople.
This news was shared via Twitter by Sergej Stein, one of the developers at Thorchain.
is a decentralized liquidity network that enables users to swap assets across different blockchains without the need for a centralized exchange. The network is secured by a group of nodes, which are chosen by the community through a voting process. Recently,
Thorchain announced that it would be ending support for the Ethereum-based Binance Chain’s Rune token. This decision was made due to the lack of liquidity
on the Binance
Chain and the high fees associated with moving assets on and off the chain.
While this may be seen as a negative development for those who are invested in the Rune token, it is important to remember that Thorchain is still a young project and its team is constantly working to improve the platform.
The company has recently partnered with two other decentralized networks, Fabric Token and Cosmos Hub. These partnerships will help provide access to more than one hundred billion dollars worth of tokens.
With these new partnerships and developments coming out of Thorchain, Rune token holders should not panic over the latest news but instead consider their options before taking any action. At the moment, there are three ways that you can move your Rune tokens onto another blockchain:
1) Store them where they currently reside (as long as you have a copy of your private key),
2) Move them to another wallet or
3) Sell them for ETH.
If you opt to sell your Rune tokens for ETH, the best course of action would be to immediately transfer the ETH from an exchange into a secure wallet. Doing so will ensure that you maintain control of your cryptocurrency while avoiding potentially having your funds stolen if something were to happen to the site.
Thorchain does not support Rune tokens
Thorchain, a popular cryptocurrency exchange, has announced that it will no longer support Rune tokens.
This news comes as a surprise to the crypto community, as Thorchain was one of the first exchanges to list the token.
However, with the recent launch of Binance Chain, it appears that Thorchain has decided to move away from Ethereum.
This could be a sign that Ethereum’s days are numbered, as more and more projects are moving away from the platform.
Only time will tell what the future holds for Ethereum. Will it continue to thrive or will it fade into obscurity like Bitcoin Cash?
At this point, nobody knows for sure. What is certain is that the entire cryptocurrency space is going through major changes and it is only a matter of time before we see other well-known currencies disappear.
Whether or not Ethereum will be able to survive these changes remains to be seen.
It does seem clear, however, that in the future there will only be a handful of cryptocurrencies left standing.
Will other exchanges follow suit
It looks like the end could be near for Ethereum, at least according to Thorchain. The company has announced that it will no longer support Binance’s Rune token on its network.
This could be a sign that other exchanges will follow suit and stop supporting the Ethereum blockchain. If this happens, it could mean big trouble for Ethereum.
Cryptocurrency exchanges have been struggling with scalability issues as more users have entered the space. As such, there is already speculation about what will happen if Coinbase decides to stop trading ETH. Of course, ETH may still survive as an investment asset even if it can’t be used in day-to-day transactions with crypto coins. However, this is yet another nail in the coffin for the world’s second most popular cryptocurrency by market cap.
After all, how many investors are going to put their money into a coin which cannot even be used to trade for goods or services?
For example, TRON (TRX) recently partnered with China UnionPay to help facilitate fiat-to-crypto conversion.
Indeed, not being able to trade your coins for goods or services might be one of the worst things that could happen to your portfolio in 2019.