What is Ren (REN)? | REN Token Explained in Under 60 Seconds

3 years ago
20
ren renvm ren protocol ren crypto ren coin ren token cryptocurrency blockchain

RenVM is an open protocol for transferring cryptocurrencies between blockchains. The network allows developers to bring cross-chain functionality to their DeFi applications. Ren Token (REN) is the ERC20 token used to bond Darknodes to RenVM.

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Darknodes are a network of decentralized virtual machines that contribute their compute power & storage space in exchange for rewards.

RenVM allows you to transfer any token between any blockchain. Bring BTC, BCH, ZEC & more to your decentralized application (dApp). As a plug-in for decentralized finance, any DeFi application can incorporate RenVM’s capabilities into their applications & existing smart contracts.

RemVM allows for Multi-collateral lending, Cross-chain asset integration, Cross-chain OTC trading & much more.

WEBSITE: https://renproject.io/

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