What is REN Coin (REN) ?
Project Name: Ren
Token Ticker: REN
Introduction to the Project
It is a protocol that allows the buying-selling and trading of assets traded on different blockchains. The main goal of the Ren project is to provide interoperability and liquidity.
RenVM is a virtual computer network. The machines that power this network are called DarkNodes. DarkNodes operators power and protect the network. In order to work as DarkNodes, the amount of REN Tokens specified by smart contracts must be locked. Operators working as DarkNodes are rewarded with REN Tokens.
Ren was founded in 2017 by software developers Taiyang Zhang and Loong Wang. Its name was Republic Protocol when first established, and it was changed to REN in 2019.
A user can lock different cryptocurrencies on the Ethereum network using REN Token. He can take Ethereum as a reward and use it by buying Bitcoin on the Bitcoin network. During this process, the REN Token allows the user to transact across networks. It also facilitates the use of decentralized finance (DeFi) resources. Thanks to the REN, $ 1.2 million worth of cryptocurrencies have been exchanged as of 2020.
Anyone who wants to have access to all protocols traded on the Blockchain can fulfill this function by using the REN Token. Transactions within the Ren network will only be charged in REN Tokens. Other blockchains are paid in their own cryptocurrencies.
Total Supply: 999.999.633
Circulation Supply: 999.037.500
Official Website: https://renproject.io/
Technical Report: https://renproject.io/litepaper.pdf