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Ren (REN) is a cryptocurrency made by Taiyang Zhang in 2018. It is an open protocol that provides access to inter-blockchain liquidity for all decentralized applications.
The Ren protocol is working to do this by enabling the free movement and private transfer of value between all blockchains. In doing this, Ren hopes to create a private and interoperable world of decentralized finance. If successful, the project could unlock new liquidity and resources that are needed to power the open finance movement. Even more, Ren can potentially make all decentralized applications run in secret, preserving the privacy of all users and data.
Ren’s protocol is powered by the trustless and decentralized Ren virtual machine (RenVM), which reportedly enables the transfer of any token between any blockchain while maintaining privacy. For many decentralized financial applications, interoperability and trustless privacy are fundamental pieces of the puzzle that are still missing. According to Ren’s website, the RenVM provides decentralized finance applications and existing smart contracts with the solution to these fundamental pieces. Any project or dapp that integrates with RenVM will purportedly benefit from cross-chain liquidity, interoperability, and privacy.
The Ren token is an Ethereum based, ERC-20 utility token that provides liquidity to the Ren protocol via a proof-of-stake consensus algorithm. REN secures the network since it is required for staking by any person or entity who want to operate a Darknode. As for Ren (REN) tokens, the total supply is 1,000,000,000 REN, and the circulating supply 795,594,931 REN. The Ren project conducted a successful ICO in February 2018 where they raised $34.3 million and sold 60.2% (602 million) of the tokens.
28 Dec 2020 2 minute read 0 comments JakeB
Welcome to “Top 5 Cryptocurrency Movers” where I look at all the major crypto coins on the market and choose the five that made the biggest move (either positive or negative) on this day, explaining my thoughts why the move happened, as well as the h...
18 Dec 2020 1 minute read 2 comments Equilibrium
Equilibrium and Ren are teaming up to mutually beneficial ends. Equilibrium will gain access to RenVM’s BTC bridge on Polkadot, and RenVM will see increased demand for its services as a fresh surge of users peg in and out of BTC. Bridges are import...
2 Dec 2020 1 minute read 1 comment Abhimanyu Krishnan
According to an announcement made on Dec. 1, Codefi has integrated RenVM into its DeFi bridge, which connects assets to the Ethereum mainnet. The DeFi Bridge is a permissionless bridge for assets, to bring them onto Ethereum (ETH); Filecoin (FIL) is...
5 Nov 2020 4 minute read 8 comments DrBreakThru
On May 22, 2020, renBTC – a 1:1 ERC-20 token representation of Bitcoin (BTC) – went live on the Ethereum mainnet. Since its launch, the total number of renBTC that has been bridged from Bitcoin to Ethereum has experienced exponential growth. At the t...
18 Oct 2020 1 minute read 0 comments uygarpelin
I want to talk about the partnership between Radix and Ren Protocol. What is the Ren Protocol? What are the features of the Ren protocol? What will Ren bring to the Radix ecosystem? Let’s examine this partnership by answering these key questions....
7 Oct 2020 1 minute read 0 comments New Age Wealth
Coinbase has been living up to its word when it comes to adding trading support of more assets on its platform. Coinbase has plans to continue the listing of at least 90% of digital assets in circulation, but only after meeting the listing criteria....
6 Oct 2020 1 minute read 0 comments Abhimanyu Krishnan
On October 5, Chainlink (LINK) announced that the Ren (REN) protocol will use its proof-of-reserve solution to improve the transparency and auditability of cross-chain assets. RenVM will use the Proof-of-Reserve to audit its cross-chain assets; init...
5 Oct 2020 1 minute read 0 comments Abhimanyu Krishnan
Coinbase announced on October 1 that it had listed Balancer (BAL) and Ren (REN) on Coinbase Pro. DeFi tokens BAL and REN have been listed on the professional version of the Coinbase exchange Listing on Coinbase Pro is typically followed by listing o...
26 Aug 2020 1 minute read 0 comments Andann427
I first came across ren through aave liquidity pool For assets to borrow against deposits. At the time what peeked my interest was it’s low cost and apparent interest free borrowing at .$.15 it was worth a look. As I researched I discovered an ncredi...
20 Aug 2020 1 minute read 1 comment Abhimanyu Krishnan
The price of the REN token has hit an all-time on August 18, and continues a remarkable rise that began in late July 2020. REN hit an all-time of $0.56 on August 18; price at the time of publishing is ~$0.47 REN is a part of RenVM, an open protocol...
