Threads are supposed to be decentralized and are ran on ActivityPub protocol.
Ahh, 2 minutes with Google and I already smell the bullshit :D Well, apparently after Web 2.0 comes Web 2.5 :)
BTW, even the name Threads is appropriated from crypto, however this might be jsut by accident. Have you checked LeoThreads, short form content platform built on Hive?