Organization Name – ThorBlock

Category – Banking & DeFi

About

ThorBlock is a blockchain-based pooling platform that claims to provide a turnkey solution for communal funding. Built on the VeChainThor blockchain, ThorBlock is reportedly designed to simplify the p…rocess of raising and managing funds for Initial Coin Offerings (ICOs), private sales, and other fundraising efforts without requiring complex smart contract coding or third-party security audits​ ThorBlock offers three types of pooling services: Designed for both individuals and organizations to raise funds for charitable initiatives​ These pools can be used for innovation-driven projects and other funding campaigns​ These are general-purpose pools that do not fit into the charity or fundraising categories​ The platform claims that security is a priority and states that its smart contracts have been audited by top security firms. However, there is limited independent verification available on the specific firms that conducted these audits​ ThorBlock provides an API that it claims is designed to offer ease of use, scalability, and security for third-party developers and projects. The API reportedly allows organizations to integrate the pooling mechanism into their own applications​ Users can contribute to pools using VIP-180 tokens, including VeThor (VTHO), and can manage their assets using wallets such as Comet, Sync, and Arkane. The platform also integrates with SafeID for authentication​ Users can create a pool by registering an account, selecting a funding method, and setting up a VeChainThor-compatible wallet. Each pool has a minimum token-holding requirement, which varies depending on the type of pool being created​ ThorBlock is reportedly powered by Safe Haven Tech, a company based in Belgium. The platform is also linked to SafeTech BVBA, which provides the authentication service SafeID used for logging into ThorBlock​ While ThorBlock promotes itself as a secure and user-friendly solution, independent verification of its claims, such as its security audits, is scarce. The platform’s reliance on VeChainThor may limit adoption among users unfamiliar with this blockchain ecosystem. The charity and fundraising sections list various projects, but the success rate and user adoption are unclear based on the available data​ ThorBlock presents itself as a comprehensive blockchain-based communal funding platform, emphasizing security, ease of use, and integration with VeChainThor. However, potential users should conduct their own due diligence, as independent validation of some of its claims appears to be limited. Read More