Ren (REN)
Ren (REN)
Official Website: https://renproject.io/
What is Ren?
Ren (REN) is an open protocol that was built with the intention of providing interoperability and liquidity between different blockchain platforms.
Before it was known as Ren, the project went by the name of Republic Protocol. Ren subsequently launched RenVM in May 2020, having completed a $34 million initial coin offering (ICO) in 2018. RenVM is its virtual machine mainnet. The native token of the protocol, REN, acts as a link to the running nodes which power RenVM, known as Darknodes.
One of the aims of Ren is to develop the interoperability, and thus accessibility, of decentralized finance (DeFi) by eliminating any obstacles involved in liquidity between blockchains.
Ren is a complex platform with multiple use cases, but it is ultimately designed to overcome barriers to entry and investment for DeFi projects.
As it is a plug in, Ren enables DeFi projects to bring foreign cryptocurrency assets such as Bitcoin (BTC) and Zcash (ZEC) to their offerings. Users will in essence be able to swap any token between any two blockchains with none of the middle steps such as using so-called “wrapped” versions of tokens.
Team
Ren was established by Taiyang Zhang who is its CEO, back in 2017. Originally called Republic Protocol, Ren was initially revealed in January 2018, with Zhang describing its primary use case as a “decentralized dark pool.”
Taiyang Zhang already has existing experience within the cryptocurrency industry as he has also co-founded crypto hedge fund Virgil Capital. Preceding to that, Zhang co-founded Neucode, a software and web development startup, in 2014. Jaz Gulati, Neucode’s other co-founder, now operates as a software developer for Ren.
Roadmap
RenVM Devnet
RenVM is successfully deployed to Devnet.
RenVM Testnet
RenVM is successfully deployed to Testnet.
RenVM SDK
RenVM SDK is released. Allowing any developer to bring trustless, decentralized, and permissionless interoperability to their DeFi application.
Hyperdrive
Ren core dev team deploys the Hyperdrive consensus algorithm to bring fast decentralized consensus to RenVM.
RenVM Chaosnet
RenVM Chaosnet successfully deployed
RenVM Mainnet SubZero
RenVM Mainnet SubZero successfully deployed.
Where to Store Ren (REN)
Trust wallet is a wallet that can hold a wide variety of cryptocurrencies such as Ren making it highly desirable for users who wish to have a varied portfolio. Being owned Binance, it also a very trusted wallet in the crypto community.
Leading hardware wallet providers such as Ledger are integrated with Ren and REN wallets will come as standard on their devices.
Where to Buy and Sell Ren (REN)
You can Buy & Sell Ren (REN) by heading over to the Buy Coins page of our website. Ren (REN) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Ren has never been easier, simply place your order and provide your wallet address.
Once your payment arrives Ren will be sent directly to your wallet. If you choose to Sell Ren (REN) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the ‘Sell Coins’ page.
Ren (REN) Resources
Website: https://renproject.io/
Block Explorer: https://etherscan.io/
Twitter: https://twitter.com/renprotocol
GitHub: https://github.com/renproject
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.