Summary:
Cryptocurrency security is based on five pillars, two of which are the security of your private keys, and verification through transparency. As you can see, wraps, swaps and bridges are processes which are not transparent to all who use them, and the loss of cryptographic security over your tokens isn’t apparent either. These two things are why this is important. They are the antithesis or opposite of what cryptocurrency is about, and more importantly the opposite of what makes it secure. Thorchain is a proposed solution to this problem. Thorchain attempts to restore trustlessness and transparency, two pillars of cryptocurrency security.