THORChain is an application-specific blockchain built on the Cosmos SDK that specializes in cross-chain swaps between native assets. Using an in-house solution (Bifröst protocol), THORChain creates bridges between blockchains to enable non-custodial, frictionless, and decentralized swaps. Most importantly, THORChain swaps native assets between chains and does not utilize wrapped assets like other lock and mint bridging solutions.
Application-specific blockchains offer a larger design space for building protocols. While the network is built on the Cosmos SDK and secured via Tendermint like most Cosmos Ecosystem chains, it uses a modified proof-of-stake mechanism (proof-of-bond) to reach consensus and provide trustless economic security.