The REN Network facilitates an open-source protocol for developing a distributed network of nodes to fulfill orders, without knowing anything about the orders. The sooner a match is found, an atomic swap gets launched between two traders, peer-to-peer and no intermediaries involved.
Per the Republic Protocol’s whitepaper, the REN token has two functions.
1) Incentivizes node operators to match orders.
2) To pay bonds to the Registrar, allowing traders and nodes to participate in the Republic Dark Pool.
(In simple words Dark pools are private exchanges where institutional investors can anonymously trade with big orders that are not accessible to the public)”
Ren tweeted on: “How does #RenVM bring Bitcoin, BCH, and Zcash to Ethereum?”
Several investors congratulated REN and stated, “This is a real cross-chain, waiting for more crossing asset!”
Loong Wang, CTO of Ren Project, during the Asia Blockchain Review in the past, stated: Ren is an open protocol that enables the permissionless and private transfer of value between any blockchain. Our core product is RenVM, and in the simplest terms, RenVM brings interoperability to Defi (Decentralized Finance).
REN (REN) is the cryptocurrency token issued on the Ethereum platform. The circulating supply of REN is 850 Million coins with a max supply of 1 Billion coins. The most active exchange trading REN is Binance.
At the time of writing the news, Ren has been trending at $0.0426 (+5.6%).
Liquidity is unchained in REN. With REN, it is possible to transfer any token between any blockchain. Investors can access tokens from any blockchain without having to worry about wrapping or unwrapping tokens.
RENVM facilitates multi-collateral lending, brings cross-chain assets to DEX, and facilitates cross-chain OTC trading. Further, support is planned for more blockchain. The focus is to connect the entire cryptocurrency exchange.
On January 10, 2020, Loon Wang has recently published a blog on: “How RenVM Works.”
The answer to how the cross-chain movement work was published thus: “Any asset minted on Ethereum by RenVM is a 1:1 backed ERC-20. This means that if you have 1 renBTC (an ERC-20), you can always redeem it for 1 BTC. It’s a direct supply peg. renBTC isn’t a synthetic, it doesn’t rely on a liquidation mechanism, and it’s not the price of Bitcoin on Ethereum. It is a one to one representation of Bitcoin on Ethereum that can be redeemed for BTC at any time, in any amount.”
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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