Vultisig, Thorchain & 2025 Cycle Top

Summary

In this episode of Nuggets News, JP Thor, a seasoned crypto founder, shares insights on his groundbreaking projects, including Volty Sig, a highly secure multiactor wallet designed to protect users from phishing, and Thor Chain, a decentralized network revolutionizing cross-chain swaps. He also discusses Reira, a new DeFi ecosystem leveraging Thor Chain’s liquidity. With ambitious upgrades for 2025, Thor Chain is poised to lead the DeFi space. JP also predicts Bitcoin could reach $150,000 to $250,000 within the next year, fueled by institutional adoption and favorable market trends.

Takeaways

• 😀 Volty SE introduces a multi-actor crypto wallet that splits private keys across multiple devices for enhanced security, preventing phishing attacks.
• 😀 Users can create a two- or three-device wallet setup with a MacBook, iPhone, and a burner Android phone to protect keys and sign transactions safely.
• 😀 Volty SE's multi-actor wallet ensures that even if one device is lost or compromised, funds remain secure as key shares contain no funds themselves.
• 😀 A rewards program is running for users who store funds in Volty SE, with a significant airdrop planned for 2025 based on the duration of storage.
• 😀 ThorChain enables decentralized cross-chain swaps, making it easier to trade Bitcoin, Ethereum, and other assets without relying on centralized exchanges.
• 😀 ThorChain generates $100-$200 million annually in revenue, paying for network security and liquidity, while affiliate programs help fund further development.
• 😀 The upcoming **Riera** platform will allow users to build decentralized finance (DeFi) applications on ThorChain, such as lending, savings, and NFT marketplaces.
• 😀 ThorChain's new updates will include faster block scanning, reduced block times (from 6 seconds to 1.5 seconds), improving transaction speed and user experience.
• 😀 Bitcoin's future price target is predicted to reach $150k-$250k by the end of next year, driven by institutional adoption and new macroeconomic trends.
• 😀 The current crypto cycle is more favorable for Bitcoin, with institutional money, ETF approvals, and global adoption likely pushing prices higher than previous cycles.
• 😀 ThorChain's future strategy includes enhancing its liquidity network and building more expressive DeFi tools to ensure the platform remains a top decentralized exchange protocol.

Q & A

What is Volty Sig, and how does it improve crypto wallet security?

Volty Sig is a multi-actor crypto wallet designed to enhance security by splitting private keys across multiple devices. Instead of keeping keys on a single device or hardware wallet, users can set up a multi-signature system where multiple devices must co-sign a transaction. This makes it harder for attackers to steal funds, as the keys are not stored on one device but distributed across several, protecting against phishing attacks and device compromises.

How does the multi-actor wallet work in practice?

In practice, the multi-actor wallet setup uses a two-to-three model, where users combine three devices—such as a MacBook, iPhone, and an inexpensive Android phone. The Android phone can be securely stored and forgotten, while the MacBook and iPhone hold and protect the keys. To authorize a transaction, users need to activate both the MacBook and the iPhone, which then co-sign the transaction, ensuring added protection.

What makes Volty Sig resistant to phishing attacks?

Volty Sig is resistant to phishing attacks because private keys are not stored directly on any device. Instead, they are split into key shares, which are small files that do not contain any funds themselves. Even if an attacker compromises one device, they cannot access the funds without all key shares being combined, ensuring that phishing attempts cannot steal the user’s private keys or funds.

What reward program is Volty Sig running for new users?

Volty Sig is offering a rewards program where users earn points based on how long they store funds in the wallet. These points accumulate over time and will be part of a larger airdrop in 2025. The longer funds are held in the wallet, the greater the user’s share of the airdrop, incentivizing long-term use.

What is the significance of Thorchain (Rune) in the crypto ecosystem?

Thorchain (Rune) allows for decentralized swaps between different cryptocurrencies, such as Bitcoin and Ethereum, without the need for centralized exchanges. This provides users with a trustless way to swap assets, and the protocol generates significant fees, making it self-sufficient. Thorchain is poised to become a major player in the DeFi space by allowing seamless cross-chain swaps.

How is Thorchain evolving to improve user experience?

Thorchain is working on several improvements, including upgrading its NPC (Non-Personal Computing) library for faster signing and block scanning, which will increase the speed of transactions. The network is also working to reduce block times from 6 seconds to as low as 1.5 seconds, which will improve transaction speed, reduce slippage, and provide a better overall experience for users.

What is the role of plugins in the Volty Sig wallet next year?

Next year, Volty Sig will introduce plugins that allow third-party applications to integrate with the wallet. These plugins could include features like DCI apps, copy trading, payroll services, and more. The goal is to create an app store for the wallet, where users can install and manage applications that can perform actions on their behalf, all while maintaining the security and control of their funds.

What is the Rira project, and how does it relate to Thorchain?

Rira is a new project that emerged from the merger of Lavana and Kira. It aims to provide tools and infrastructure for decentralized finance (DeFi) applications, leveraging Thorchain’s liquidity and execution environment. By integrating with Thorchain, Rira will enable a wide range of DeFi services, such as lending, savings, and decentralized exchanges, to be built on top of Thorchain’s cross-chain platform.

What are the key developments expected from Thorchain in 2025?

In 2025, Thorchain is expected to see significant growth with the expansion of DeFi projects on the network. Rira will introduce new DeFi applications, and Thorchain will continue to improve its liquidity and scalability. Additionally, Thorchain is focused on reducing block times and enhancing network performance, which will make the platform more efficient and user-friendly.

What are the potential Bitcoin price targets for the next cycle, according to the discussion?

The speaker predicts that Bitcoin could reach a price range of $150,000 to $250,000 within the next 6 to 12 months, driven by factors such as institutional adoption, the approval of Bitcoin ETFs, and increasing global acceptance. While some are talking about a 'super cycle,' the speaker remains cautious, suggesting that Bitcoin may still follow its usual four-year cycle with ups and downs, but ultimately could hit a new all-time high by Christmas next year.