Ren is an open protocol which makes it possible to move value between blockchains. This means they are making it possible for users to have access to inter-blockchain liquidity for all decentralized applications.
They are unchaining liquidity with RenVM Protocol. Integrating RenVM to decentralized applications makes it possible for users to transfer any token between any blockchain. Thus, users will be able to access tokens from any blockchain by making use of the existing smart contracts without having to worry about wrapping or unwrapping tokens.
They claim that it is 10x faster than atomic swaps, integrates easily in to existing infrastructure, and it is composable with DeFi. Those who are not sure of where to start will have to join the developer chat to know more.
There are tutorials which detail more about DEXs, Dapps, and DeFi integrations to see how it all works. Those developers who are trying to integrate RenVM might have doubts which they need clarified which they will be able to get done using the developer chat by getting one-on-one feedback on your project.
There is RenJs which is a low-level library for more customized integrations and built for tools and bots.
Ren Bridge 2 is a very easy to use DApp, which bridges cross-chain assets between blockchains. To the end user it is going to be very easy, they need to just say which token they need to submit where.
For instance, if have Dogecoin – they need to click the Submit to Ethereum button; if they have Bitcoin they can submit it to Ethereum – and similarly if they have BCH they can submit it to Ethereum. Thus, Bridging Assets to Ethereum becomes as easy as in a click of a button BTC, BCH, ZEC.
They are looking to extend similar support of more blockchains and the ultimate aim is to keep the entire blockchain ecosystem connected.
Those who are interested in understanding the Network Statistics can explore RenVMs Command Center to get a better understanding of how the network is getting utilized.
For clarity, RenVM makes use of Shamir’s Secret Sharing to keep the data secret, makes use of secure multiparty computation (sMPC) to efficiently run secret scripts, Byzantine fault tolerance to maintain uptime in dynamic and potentially malicious environment, and makes use of Hyperdrive for fast decentralized consensus.
RenVm calims to be the only engine which powers the decentralized interoperability solution. Darknodes are the network of machines which power the network by contributing storage space and computer and they earn rewards for contributing computer power.
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