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If you would love to recognize wherein to shop for Ren, the pinnacle exchanges for buying and selling in Ren are currently Binance, Huobi Global, Mandala Exchange, OKEx, and FTX. You can find others indexed on our crypto exchanges web page.

What Is Ren (REN)?

Ren (REN) is an open protocol constructed to provide interoperability and liquidity between extraordinary blockchain structures.

To research more approximately this undertaking, test out our deep dive of Ren.

Formerly referred to as Republic Protocol, Ren launched RenVM, its virtual device mainnet, in May 2020, having completed a $34 million preliminary coin imparting (ICO) in 2018.

The protocol’s local token, REN, functions as a bond for those running nodes which power RenVM, known as Darknodes.

Ren objectives to expand the interoperability, and for this reason accessibility, of decentralized finance (DeFi) by way of getting rid of hurdles concerned in liquidity among blockchains.

Ren changed into founded by using Taiyang Zhang, its CEO, in 2017. Initially called Republic Protocol, Ren become first announced in January 2018, with Zhang explaining its preliminary use case as a “decentralized dark pool.”

Zhang himself has current revel in in the cryptocurrency space, having also co-founded crypto hedge fund Virgil Capital.

Prior to that, Zhang co-based Neucode, a software program and internet improvement startup, in 2014. Jaz Gulati, Neucode’s other co-founder, now works as a software developer for Ren.

Ren is a complicated platform with more than one use instances, however it’s far ultimately designed to conquer limitations to access and investment for DeFi tasks.

As a plug-in, it lets in DeFi initiatives to convey overseas cryptocurrency property inclusive of Bitcoin (BTC) and Zcash (ZEC) to their offerings. More widely, customers can in essence switch any token among any two blockchains with out middle steps such as using so-referred to as “wrapped” variations of tokens, as an example Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH).

RenVM is a community of digital computer systems making up a digital machine. The machines powering the choices network which makes up RenVM are referred to as Darknodes.

Ren costs numerous prices for inner operations, however most do not cross toward direct profitability, rather being paid to miners. As an ERC-20 token, REN additionally attracts various gas costs to power transactions.

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Check out Alexandria’s Deep Dive Into RenVN.

REN has a hard and fast deliver cap of one billion (1,000,000,000) tokens. Ren carried out a presale and public token sale in 2018, during which a total of 60.2% of the choices deliver was bought to buyers.

Ren has a reserve fund which changed into originally allocated 19.nine% of the full supply, at the same time as any other nine.9% turned into allocated internally to advisors, the choices crew and its founders. Team tokens came with a two-year lock-up length, with a six-month lock-up for guide allocations.

Another 10% of the choices REN supply is especially intended for activities consisting of partnerships and improvement.

REN is an ERC-20 trendy token.

RenVM is a byzantine fault-tolerant protocol that enables ECDSA threshold key era and signing thru secure mutli-birthday party computation (sMPC). This lets in RenVM to soundly manage (ECDSA) private keys on exceptional blockchains, making it viable to shift tokens between these blockchains (i.e interoperability).

The community is currently in phase sub-zero in its pathway to decentralization, for more records on RenVM’s pathway to decentralization, please discuss with Ren’s Wiki

REN is a freely-tradable token and has a presence on numerous fundamental exchanges. Of those, Binance and Huobi Global have the largest extent as of October 2020. Pairs encompass cryptocurrency, fiat and stablecoins.

Crypto novice? Read our clean manual to shopping for Bitcoin and other cryptocurrencies.

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