THORChain cofounder Chad Barraford argues that his protocol is more decentralized than Bitcoin and Ethereum, drawing criticism. The debate intensified after Bitget’s hack in September 2026, with estimated losses of $387.5 million, and THORChain’s refusal to intervene on funds linked to the hackers. Barraford’s defense rests on neutrality, claiming the protocol cannot selectively block transactions. Critics point to THORChain’s threshold signature scheme (TSS), which pools user funds under shared signing authority, and the fact that governance votes under the Mimir system may require as few as three or four validators for certain actions. In February 2025, THORChain retired address blacklisting, arguing that pausing the network affects everyone equally, whereas blocking a specific address singles someone out.
Source: Read the original article
