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REN Overview
24h High
$0.00
24h Low
$0.00
24h Change
+0.32%
7d Change
-1.14%
30d Change
-1.06%
Volume 24h
$9.04K
Market Cap
$4.12M
Circulating Supply
1000.00M REN
REN News
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About REN
Ren (REN) represents a significant advancement in the blockchain space, providing a decentralized platform for the secure and private transfer of assets across different blockchains. This not only facilitates greater liquidity within the DeFi ecosystem but also addresses the longstanding issue of blockchain interoperability. With its innovative approach and practical applications, Ren is poised to play a crucial role in the evolution of decentralized finance.
Ren (REN) is an open protocol designed to enhance interoperability and liquidity between different blockchain platforms. Initially launched as Republic Protocol, it was rebranded to Ren to reflect its broadened scope beyond just being a decentralized dark pool for trading. The project's main feature, the RenVM (Ren Virtual Machine), was launched in May 2020 following a successful initial coin offering (ICO) in 2018 which raised $34 million. The protocol's native token, REN, is utilized as a bond by those operating nodes within the network, known as Darknodes, which are crucial for the functioning of RenVM. Ren aims to facilitate the seamless movement of digital assets across disparate blockchain networks, thereby enhancing the accessibility and efficiency of decentralized finance (DeFi) applications.
Ren allows for the decentralized, trustless, and swift transfer of cryptocurrencies and other supported assets between different blockchains. By using the RenVM, users can conduct cross-chain exchanges without the need for middlemen or wrapped versions of tokens, which is common with other interoperability solutions. This process is made possible through a network of Darknodes that provide the computing power necessary to process these transactions. The REN token has two main uses within the ecosystem: paying for transactions on the RenVM and serving as a bond for the operation of a Darknode. This system aims to provide a more private and efficient mechanism for moving assets across blockchain platforms, particularly benefiting OTC trading and enhancing the interoperability within the DeFi sector.
Ren was founded by Taiyang Zhang and Loong Wang in 2017. The duo were classmates at the Australian National University and later collaborated at a startup before founding Ren. Zhang, who also co-founded the cryptocurrency hedge fund Virgil Capital, identified the need for a decentralized solution to over-the-counter (OTC) cryptocurrency trading and a protocol to enable interoperability between different blockchain networks. This led to the creation of Republic Protocol, which was later rebranded as Ren. The project aims to address the challenges of privacy and interoperability in cryptocurrency trading and blockchain technology.
REN Markets
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REN Platforms
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REN Market Data
The live REN price today is $0.00 USD with a 24-hour trading volume of $9,041.57 USD. We update our REN to USD price in real-time. REN is up 0.32% in the last 24 hours.
The current market cap is $4,124,415.38 USD, ranking #862 by market capitalization. The circulating supply is 999,999,633 REN.