At first Thunderbolt technology has been designed to work with optical-fiber connections. It’s a bit tough to swallow that optical fiber for the desktop still isn’t quite ready for mainstream consumption - issues like bend radius and the proper connectors were already mitigated - but copper is good enough in the meantime. Thunderbolt launched with the 2011 MacBook Pro, and though the interface isn’t Apple exclusive, will likely not see adoption in the PC space until 2012.
Although Thunderbolt in its launch instantiation is electrical, future versions will move to and support optical connections. When the transition to optical takes place, legacy electrical connector devices will work through cables with an electro-optical transceiver on the cable ends so there won’t be any need to use two separate kinds of cables. The optical version of Thunderbolt is allegedly coming later this year.
Thunderbolt shares the same connectors and cabling with mini DisplayPort, however Thunderbolt cables have different, tighter design requirements to fully support Thunderbolt signaling. DisplayPort is an interesting choice since it’s already one of the fastest (if not the fastest) desktop interfaces, topping out at 17.28 Gbps in DisplayPort 1.2 at lengths of under 3 meters. At longer distances, physics rears its ugly head, and throughput drops off over electrical links. Of course, the eventual advantages of moving to photons instead of electrons are greater distance without picking up much latency.
Thunderbolt is dual-channel, with each channel supporting 10 Gbps of bidirectional bandwidth. That’s a potential 20 Gbps of upstream and 20 Gbps of downstream bandwidth. The connection supports a daisy chain topology, and Thunderbolt also supports power over the cable, 10W to be precise. We aren't sure at this time what the breakdown on voltage/amperage is though.
Thunderbolt already faces competition from 4.8 Gbps USB 3.0 which has already seen a lot of adoption on the PC side. The parallels between USB 2.0 / FireWire and USB 3.0 / Thunderbolt are difficult to ignore, and ultimately peripheral availability and noticeable speed differences will sell one over the other in the long run.